Storebrand ASA
OSE:STB
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Storebrand ASA
Storebrand ASA, established in 1767 in Norway, has evolved into one of the nation’s leading players in the financial services sector, primarily focusing on life insurance, asset management, and banking. Originally a fire insurance company, Storebrand has continuously adapted to the changing financial landscape. Today, it offers comprehensive savings and insurance solutions, both for individuals and businesses. As part of its strategy, the company strongly emphasizes sustainable investments, demonstrating a commitment to aligning its financial objectives with broader social and environmental goals. This shift reflects the growing trend among financial firms to incorporate ESG (Environmental, Social, and Governance) factors into their investment processes.
The company’s revenue stream is predominantly generated through premiums collected from its insurance policies, alongside fees from its asset management services. Storebrand manages a significant portfolio of assets, benefiting from the robust Norwegian savings culture and the increasing global demand for responsible investment products. By leveraging its expertise in risk assessment and financial management, Storebrand is able to maintain a steady flow of income while simultaneously mitigating potential risks associated with the financial markets. This strategic positioning allows the firm to serve its stakeholders effectively, ensuring sustainable growth and a resilient financial framework in a competitive industry.
Storebrand ASA, established in 1767 in Norway, has evolved into one of the nation’s leading players in the financial services sector, primarily focusing on life insurance, asset management, and banking. Originally a fire insurance company, Storebrand has continuously adapted to the changing financial landscape. Today, it offers comprehensive savings and insurance solutions, both for individuals and businesses. As part of its strategy, the company strongly emphasizes sustainable investments, demonstrating a commitment to aligning its financial objectives with broader social and environmental goals. This shift reflects the growing trend among financial firms to incorporate ESG (Environmental, Social, and Governance) factors into their investment processes.
The company’s revenue stream is predominantly generated through premiums collected from its insurance policies, alongside fees from its asset management services. Storebrand manages a significant portfolio of assets, benefiting from the robust Norwegian savings culture and the increasing global demand for responsible investment products. By leveraging its expertise in risk assessment and financial management, Storebrand is able to maintain a steady flow of income while simultaneously mitigating potential risks associated with the financial markets. This strategic positioning allows the firm to serve its stakeholders effectively, ensuring sustainable growth and a resilient financial framework in a competitive industry.
Record Profit: Storebrand reported a record high group profit of NOK 1,586 million in Q3, driven by strong growth, improved insurance results, and cost control.
Operational Result: Operational result reached NOK 1,091 million, up 16% year-on-year.
Insurance Premiums: Insurance premiums surpassed NOK 10 billion, marking a 20% increase from last year.
Dividend & Buybacks: The company remains committed to growing dividends and share buybacks, aiming for NOK 12 billion in buybacks by 2030.
Asset Management Growth: Storebrand Asset Management achieved NOK 1,561 billion in AUM with NOK 16 billion net inflows, mainly from external clients.
Retail Growth: Retail P&C market share increased to 7.6%, and the retail insurance portfolio premium grew 26% year-on-year. Bank lending rose 12% to NOK 95 billion.
Cost Development: Total costs are broadly in line with guidance, though sales-driven distribution costs have been higher due to record insurance sales.
Solvency: Solvency ratio ended at 195%, down from 200% last quarter, mainly due to buybacks, accrued dividends, and business growth.
