7 June 2024
International rating agency S&P Global Ratings has said that Landsbankinn's acquisition of TM tryggingar hf. (TM) has the potential to develop into a solid foothold in the Icelandic insurance business, widen the customer offering, and diversify the Bank's revenue base over the long term. This is according to a bulletin released by S&P on 5 June 2024.
S&P further states that it believes the transaction will have a moderate effect on Landsbankinn's risk-adjusted capital ratio (RAC) and expects that the Bank will counter the effect with hybrid capital issuance in 2024-2025.