Íslandsbanki's Corporate Finance division has received 12 indicative offers for the share capital of Sjóvá Almennar tryggingar hf. Most of the offers are made for the company's entire share capital. Bids were opened on Tuesday, 2 February, at 2:00 pm, in the presence of certified auditor Sigurður Páll Hauksson, who was appointed independent valuation agent.

The six bidders with the highest indicative offers, which are in addition regarded as having the requisite financial capacity, will be given the opportunity of further participation in the sales process and granted access to details of the company's activities and financial situation. Three of the six who will be invited to proceed further in the process are foreign parties. Bids with reservations concerning due diligence should be delivered no later than 22 February 2010.

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