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Storebrand ASA (STB.OL)

STB.OL on Oslo Stock Exchange

61.50NOK
14 Dec 2018
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Latest Key Developments (Source: Significant Developments)

BRIEF-Storebrand Q3 group result beats forecast
Wednesday, 24 Oct 2018 

No changes to text:STOREBRAND Q3 GROUP RESULT NOK 853 MILLION (REUTERS POLL NOK 732 MILLION).RESULT POSITIVELY AFFECTED BY STRONG INSURANCE RESULTS AND LOW COSTS.INCREASED SOLVENCY II RATIO TO 169%.STRONG RETURNS TO OUR CUSTOMERS AND INCREASED SAVINGS DRIVE TOP LINE GROWTH.  Full Article

Storebrand Q3 group result beats forecast
Wednesday, 24 Oct 2018 

Oct 24 (Reuters) - Storebrand ASA ::STOREBRAND Q3 GROUP RESULT NOK 853 MILLION (REUTERS POLL NOK 732 MILLION).RESULT POSITIVELY AFFECTED BY STRONG INSURANCE RESULTS AND LOW COSTS.INCREASED SOLVENCY II RATIO TO 169%.STRONG RETURNS TO OUR CUSTOMERS AND INCREASED SAVINGS DRIVE TOP LINE GROWTH.  Full Article

Storebrand says to keep nominal costs flat in existing business
Thursday, 31 May 2018 

May 31 (Reuters) - Storebrand ASA ::CONFIRMS CURRENT FINANCIAL TARGETS AND PRESENTS UPDATED PROJECTIONS ON CAPITAL AND NEW OPERATIONAL AMBITIONS.STOREBRAND TARGETS RETURN ON EQUITY ABOVE 10 PCT.SOLVENCY RATIO EXPECTED TO REACH 180% IN 2021.BACK BOOK EXPECTED TO RELEASE NOK 10 BILLION NEXT 10 YEARS.PENSION TARGET: NO. 1 POSITION IN FAST GROWING NORWEGIAN MARKET FOR OCCUPATIONAL PENSION. DOUBLE DIGIT PREMIUM GROWTH IN SWEDISH MARKET.RETAIL NORWAY TARGET: DOUBLE DIGIT GROWTH IN SAVINGS AND 10% ROE BANK.STOREBRAND SETS TARGET OF ASSET MANAGEMENT: MAINTAIN NO. 1 POSITION IN NORWAY WITH EUROPEAN PRESENCE.STOREBRAND SETS TARGET OF INSURANCE: 5% PREMIUM GROWTH, COMBINED RATIO 90-92%.STOREBRAND SETS TARGET OF COST: REDUCED COST BY KEEPING COSTS IN EXISTING BUSINESS NOMINALLY FLAT.WE ARE WELL POSITIONED FOR DOUBLE-DIGIT GROWTH IN MARKET FOR SAVINGS GOING FORWARD.  Full Article

Storebrand closes Skagen takeover
Thursday, 7 Dec 2017 

Dec 7 (Reuters) - Storebrand Asa ::‍IN ACCORDANCE WITH SHARE PURCHASE AGREEMENT ENTERED INTO, STOREBRAND HAS TODAY ACQUIRED ALL OF A-SHARES AND 10,000 OF B-SHARES IN SKAGEN AS​.  Full Article

‍Storebrand Liv issues SEK 1 bln tier 2 bond
Tuesday, 7 Nov 2017 

Nov 7 (Reuters) - Storebrand Asa :‍storebrand livsforsikring as - successful placement of new tier 2 bond​.‍storebrand livsforsikring as has today successfully issued a new SEK 1 billion solvency ii compliant tier 2 bond issue with a coupon of 3m stibor + 2.00 per cent.The transaction was substantially oversubscribed. The bonds will be applied for listing on the Oslo Bourse.Danske Bank and Nordea acted as joint lead managers for the bond issue​.  Full Article

Storebrand q3 group result above forecast
Wednesday, 25 Oct 2017 

Oct 25 (Reuters) - Storebrand Asa :Storebrand q3 group result NOK ‍773​ million (Reuters poll nok 661 million) vs NOK 676 mln in Q3 2016.  Full Article

Norway's Storebrand to buy asset manager Skagen
Wednesday, 25 Oct 2017 

Oct 25 (Reuters) - Storebrand Asa :Storebrand acquires SKAGEN and strengthens its position in a growing savings market.The acquisition increases the Storebrand Group's share of the of NOK 221 bn private fund savings market from 4% to 17%.SKAGEN has approximately 140,000 unit holders.Storebrand will acquire all of the A-shares, and 10 000 of the B-shares in SKAGEN, equivalent to 90.95% of the share capital in the company and 99.9% of the voting rights in the company‍.Will pay selling skagen shareholders a sum of NOK 1.6 billion for shares at time of transaction​.‍75% of price will be new issued shares in storebrand asa and 25% will be in cash​.‍in addition, there is a possibility of an additional earnout based on positive development in skagen's results and income, and a share of performance fees as a result of excess return relative to skagen funds' relevant benchmarks​.‍cash payment will be financed by sale of short-term bonds in storebrand asa's liquidity portfolio, which will amount to nok 1.5bn after transaction​.‍in addition to liquidity portfolio, storebrand asa has an unused credit facility of eur 240m​.‍transaction is expected to have an immediate 2 percentage point negative impact on storebrand's solvency margin​.‍it is expected that transaction will strengthen group's solvency margin and dividend capacity going forward​.  Full Article

Storebrand to acquire Silver's insurance portfolio for NOK 520 mln
Tuesday, 24 Oct 2017 

Oct 24 (Reuters) - Storebrand ASA :‍has signed an agreement to take over silver's insurance portfolio for nok 520 mln.The purchase is financed by the company portfolio in Storebrand Livsforsikring AS.Silver's 21,000 policies and NOK 10 bln in pension assets will be transferred to Storebrand​.‍It is expected that purchase will provide an operating result before tax of approximately nok 60m a year​.‍In 2018 a negative result effect of approximately nok 45m is expected to align assumptions in new insurance portfolio and other financial effects.‍A deferred tax asset of nok 300m will be recognized on balance sheet to reflect tax loss carried forward loss in silver​.‍The agreement presupposes that no more than 20 pct of silver's customers object to solution by deadline set by silver and public approvals.‍Transaction is expected to be completed during january 2018​.  Full Article

Storebrand's Q2 group result above forecast
Thursday, 13 Jul 2017 

July 13 (Reuters) - Storebrand Asa :Storebrand q2 group result nok 878 million (Reuters poll nok 713 million) vs nok 788 mln in q2 2016.Storebrand reports a solvency ratio of 163 pct for the quarter.The operating result shows a positive development due to growth within savings and good cost control.Cost target on track to reduce costs nominally.Pleased that Norwegians now get access to individual pension savings (IPS) with good tax incentives.  Full Article

UPDATE 1-Norway's economy strong but vulnerable, bank regulator says

OSLO, Dec 5 Norway's growing household debt burden and persistently high property prices could threaten an otherwise strong economic trend, the Financial Supervisory Authority (FSA) said on Wednesday.