Frende Holding

Capital originates from policyholder premiums collected through Frende Forsikring's property and casualty insurance products. The shareholder banks — Sparebanken Vest, Sparebanken Norge, and Sparebanken Øst — provide the initial capital base and distribution networks, but ongoing investment funds are generated by the insurance operations themselves.

The investment portfolio holds predominantly Nordic assets. Confirmed holdings include the Jonsvollskvartalet commercial property in Bergen. The broader strategy allocates to Scandinavian fixed-income securities, private credit, and real estate, with an investment posture calibrated to match long-dated insurance liabilities in Norwegian kroner.

Sparebanken Vest is the largest founding shareholder of Frende Holding. The insurance company was created as a collaborative vehicle for multiple savings banks, with Sparebanken Vest acting as the anchor institution. The relationship is one of ownership and distribution — Frende products are sold through the bank's branch network — rather than a parent-subsidiary consolidation.