A small piece of news from Aktia yesterday regarding an arrangement where the bank has acquired a majority stake in Suomen Yrittäjäturva. This is a joint venture established by Aktia and Veritas, whose task is practically to sell various insurance products. Consequently, the arrangement can be seen as a stronger investment in the insurance sector by Aktia than before. No significant change is occurring here, as Yrittäjäturva has been selling Aktia’s products before. However, the brand is changing from Suomen Yrittäjäturva to Aktia Yrittäjäturva. The income statement won’t be shaken by this subsidiary status either, as sales are commission-based due to the tied agent structure. The purchase price was not mentioned in the press release, but it is likely low due to the company’s business model (a sales organization with results close to zero).
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