Storebrand says has adequate capital, shares sink

* Company says has adequate capital

* Short-term results to be hit by global financial turmoil

* SPP synergies of 500 mln crowns now achievable

* Shares drop nearly 13 percent

By Aasa Christine Stoltz and Camilla Knudsen

(Adds comments, details, updates share price)

OSLO (Reuters) - Norwegian insurance company Storebrand ASA (STB.OL) reassured investors on Wednesday that it had adequate capital but said short-term results would be hit by global financial woes.

Storebrand shares dropped nearly 13 percent, hit also by a profit warning and cut in dividend from insurer Swiss Life (SLHN.VX) and quarterly losses from Dutch financial group ING (ING.AS).

Storebrand told investors, analysts and reporters at its annual capital markets day that it was reaping benefits earlier than expected from its acquisition of Swedish life insurer SPP.