Oslo - Norwegian police have made an arrest in connection with the weekend theft of a painting by German master Lucas Carnach, the elder, news reports said Wednesday.

According to some estimates the painting was worth at least 15 million kroner (2.1 million dollars).

A Norwegian insurance company Tuesday posted a reward worth 500,000 kroner for information securing the safe return of the painting.

The over 400-year-old painting was stolen from Larvik Church, some 105 kilometres southwest of Oslo. The congregation has owned it for over 300 years.

Carnach (1472-1553) was a German Renaissance painter who made several portraits of German theologian and church reformer Martin Luther, and also illustrated the Bible that Luther translated into German. (dpa)