'With the existing board chairman being the former chief executive of Uni (Forsikring), it is clear the power of the administration of the merged company had grown too strong,' one shareholder said.
No comparative pro-forma Uni New figures were given.
Uni's creditors called in their loans and the insurer was unable to pay. One proposal calls for a foreign investor to take a significant stake in Uni.
Uni's creditors called in their loans and the insurer was unable to pay. One proposal calls for a foreign investor to take a significant stake in Uni.
The B shares dropped SKr13 to SKr484. OSLO fell on uncertainty over the fate of Uni Storebrand and high Norwegian interest rates.
Last month Hafnia joined Uni Storebrand in seeking protection from its creditors. 'In the eyes of the world there must be something seriously wrong,' says a senior banker in Copenhagen.
Last December, Hafnia and Norway's Uni Storebrand bought heavily into Skandia with the intention of establishing a Nordic alliance. Hafnia's position was weakened by a DKr1.22bn (Dollars 194m) loss in 1991, announced yesterday.