SEB rebrands Irish Life Int'l
From Life Feb 21 2012 BY: Will Jackson
, Contributing editor
, International Adviser
The SEB building in Rissne, Sweden
Irish Life International (ILI) has been renamed SEB Life International, reflecting its acquisition by Nordic financial services group SEB at the end of August last year.
The rebrand, which saw the company’s corporate colour scheme alter from blue to green and was accompanied by the launch of a new website (http://www.seb.ie), was completed within an SEB deadline to rename the business within six months of the acquisition.
As International Adviser reported in 2011, the purchase of ILI, which operates across nine countries, was designed to expand the European distribution network of SEB, and diversify the business exposure of its SEB Life Ireland subsidiary away from the Nordic region.
The deal was expected to give SEB around €5bn ($6.6bn) under management in its Irish-based operations, and annual sales of some €700m to €800m.
According to Nils Liljeberg, the managing director of SEB Life Ireland, a project to merge the Dublin-based businesses is underway and SEB will seek to consolidate some functions. The firm also plans to diversify its distribution further, and may consider entering new territories.
Click here for more on Nils Liljeberg and his plans for SEB in Ireland.