Brussels, 30/04/2004 (Agence Europe) - The European Commission has approved the acquisition of the Swedish non-life insurance company If Skadeförsäkring Holding AB by the Finnish financial group Sampo Oyj. If Skadeförsäkring provides non-life insurance products to customers in Sweden, Norway, Finland, Denmark and the Baltic Countries. The company is presently under the joint control of Sampo, the Swedish insurance companies Skandia and Skandia Liv, Norway's Storebrand and Finnish company Keskinäinen työeläkevakuutusyhtiö Varma. The present transaction would see Sampo acquiring the shares of Skandia, Skandia Liv and Storebrand to become the owner of approximately 90 % of the share capital. The remaining shares of If would remain in the hands of Varma. The impact of the transaction would therefore be a change from the current joint control to sole control over If.