Nordea buys insurer’s bank

Nordea, the Nordic banking firm, agreed last week to buy Oslo-based Gjensidige Bank for NOK 5.5 billion. The deal includes a long-term strategic agreement with insurance company Gjensidige in Norway. Terms call for Nordea to offer its 900,000 customers in Norway insurance products from Gjensidige (roughly pronounced yen-siddy-ya). Gjensidige wrote in a report to the […]

1,200 bank workers called out on strike

Norway’s largest trade union federation LO pulled around 1,200 bank employees off their jobs Thursday morning. Mediation that extended through the night, however, resulted in banks and insurance companies avoiding a much larger strike that could have shut down most banking services. The employers’ organization for the financial services industry, Finans Norge, came to terms with […]

Bank employees threaten to strike

Labour organizations representing 21,000 bank employees and other workers in the financial sector threatened to call workers out on strike from Thursday. That can lead to major problems and even halt bank card use and electronic banking. Media outlets were advising Norwegians to pull some cash out of minibanks, and not just because of concerns […]

Parliament bows to EU finance rules

Opponents were calling it the greatest relinquishment of Norwegian sovereignty since the country struck its market pact with the EU in 1994: An overwhelming majority in Parliament agreed on Monday to tie Norwegian regulation of banking, insurance, pensions and securities to the EU’s rules, and thus subject itself to more EU regulation. The measure needed approval from at […]

Neighbour quarrels hit new extreme

Norwegians have an alarming tendency to quarrel with their neighbours, according to local insurance companies and a state council charged with resolving conflicts. Neighbours normally fight over building projects that may block views, or trees that “steal” sunshine from the adjacent property, but one man’s decision to destroy half of a neighbour’s cottage this week […]

Costs of severe storm damage pile up

As residents of central Norway continue to mop up and tally their losses after last week’s storm known as “Ivar,” insurance companies are also adding up damage claims. New waves of extreme weather, floods and resulting landslides have cost at least NOK 6.5 billion over the past 10 years, and the storms are rolling in […]

Leisure boat registry may return

Close to 400,000 boats are docked along the Norwegian coast. Now police, customs officials, insurance companies and Norwegian Sea Rescue (NSR) are lobbying to reintroduce a leisure boat registry that will give boat owners added security. The Bondevik goverment opted to dissolve the previous registry (Småbåtregisteret) in 2003, at which time NSR established a voluntary registry […]