Storebrand ASA

STB

Equity

ISIN NO0003053605 / Valor 599187

Oslo Stock Exchange (2024-12-23)

NOK 120.10+0.08%

Storebrand ASA
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About company

Storebrand ASA, headquartered in Norway, is a prominent entity in the Nordic financial services sector, specializing in long-term savings and insurance solutions. With assets under management exceeding NOK 1000 billion, it stands as Norway's largest asset manager, underscoring its significant role in the region's financial landscape. The company's operations extend across various domains, including Storebrand Asset Management, which is recognized for its leadership in sustainable investment solutions within the Nordic region. Additionally, Storebrand Real Estate marks its presence as one of Norway's leading private estate managers, overseeing approximately 1,000,000 square meters of property. This diversified portfolio of services highlights Storebrand's comprehensive approach to financial management and real estate, catering to a wide range of customer needs in the Nordic market.

Summarized from source with an LLMView SourceSector: Finance

Group Profit

Storebrand ASA reported a group profit of NOK 2,249 million in the second quarter of 2023, significantly up from NOK 856 million in the same period last year. The total group profit for the first half of the year reached NOK 3,331 million.

Operating Profit Growth

Storebrand ASA experienced a 38 percent growth in operating profit in Q2 2023, driven by strong top-line growth and effective cost control. Fee and administrative income amounted to NOK 1,888 million, representing a 13 percent increase compared to the same period last year.

Financial Result Boost

The financial results of Storebrand ASA in Q2 2023 were significantly boosted by a gain of NOK 1,047 million from the sale of shares in Storebrand Health Insurance. This contributed to one of the best quarterly results in the company's history.

Solvency Margin

Storebrand ASA maintained a strong capital position with a solvency margin of 191 percent in Q2 2023, stable from the previous quarter. This is well above the threshold for overcapitalisation, which is set at 175 percent.

Assets Under Management

Storebrand ASA's total assets under management reached a new record level of NOK 1,298 billion at the end of Q2 2023, up by more than 14 percent over the past year. This solidifies Storebrand's position as Norway's largest private asset manager.

Summarized from source with an LLMView Source

Key figures

34.3%1Y

40.0%3Y

73.2%5Y

Performance

17.3%1Y

23.7%3Y

30.2%5Y

Volatility