Frende is currently being established, and aims to be in operation by the summer of 2008. The company is owned by the four independent savings banks Sparebanken Vest, Sparebanken Øst, Fana Sparebank and Helgeland Sparebank.

Crucial role for IT strategy
"With Frende we are establishing an entirely new insurance company with demanding IT requirements, and it is crucially important for the entire business that our IT strategy is a success. After an extensive process of evaluation and negotiation, we have decided on EDB as our supplier. We are confident that we have found a good and long-term partner in EDB", comments Bjørn Olafsson, CEO of Frende Livsforsikring AS.

 

"We welcome Frende's decision to choose EDB as a vote of confidence and as confirmation that EDB is competitive in this market. We will do everything possible to ensure that the IT solutions and services we deliver help Frende to succeed in reaching its strategic objectives", comments Eva Trasti, EVP - Bank & Finance at EDB.

 

EDB already enjoys extensive collaboration with the banks involved in setting up Frende as owners. The four savings banks involved all use IT operating services from EDB, and have been customers for many years.

Insurance throughout Norway
Frende Forsikring will offer products and services to both the retail and corporate markets throughout Norway. The owner-banks believe that this expansion into insurance will reinforce both new and existing customer relationships, and will strengthen the banks' position in the market as well as their long-term profitability. The parties behind Frende Forsikring already collaborate extremely well in other areas. The four banks complement each other, and this new collaboration will help to strengthen their competitiveness. The new insurance company will have its headquarters in Bergen.

 

For further information please contact:
Eva Trasti, EVP - Bank & Finance, EDB. Tel: +47 901 17 009
Bjørn Olafsson, CEO, Frende Livsforsikring AS. Tel: +47 901 26 409
Torgeir Kristiansen, Head of Information, EDB. Tel: +47 901 279 09

 

EDB Business Partner is one of the leading Nordic stock exchange listed IT companies. The EDB group has 4,000 employees, and reported turnover of NOK 5.8 billion in 2006. EDB delivers solutions that cover the entire range of business critical IT services from application services and industry-specific solutions through to IT operating services and network solutions. EDB is committed to being a close and attentive IT partner that helps its customers operate more efficiently and achieve their business objectives. EDB Business Partner is listed on Oslo Børs with the ticker code: EDBASA.