Brokers oppose demutualisation

The Swedish insurance brokers’ association SFM has expressed doubts about plans to demutualise life insurer Handelsbanken Liv. SFM chairman Mats Lindkvist was concerned that Handelsbanken Liv’s 270,000 policyholders would only benefit from the company’s SwKr4bn overconsolidation but would get nothing for the value of the infrastructure such as data systems, personnel and customer stock. The value of the latter has not been discussed even though the infrastructure was built up with the aid of administering policyholders’ funds, he said.