VOLVO OF SWEDEN WILL SELL VOLVIA INSURANCE BUSINESS TO IF...

Swedish truck and bus manufacturer Volvo is to sell its Volvia insurance business, which has an 11% market share in Sweden, to Nordic group if... for SKr562m. Volvo said that its exit from the private car segment through the sale of its car arm to US group Ford in early 1999 had made it natural to spin off the insurance unit. if... noted that “we see a large potential for cross-selling to the Volvia customers of other insurance products”. if... which is the Nordic region’s largest p/c insurance group, is co-owned by Sweden’s Skandia Insurance Co and Norway’s Storebrand.