STOREBRAND ASA: Results for the third quarter 2026
Key Highlights
- ➤Operating profit NOK 1,162 million, up 7 percent year-on-year
- ➤Insurance result NOK 895 million; combined ratio improved to 87 percent
- ➤Portfolio premiums rose 10 percent to NOK 11.3 billion
- ➤Knif Trygghet Forsikring acquisition completed on 16 October
- ➤2027 share buyback planned at NOK 2 billion, subject to approvals
Expert Statements
Odd Arild Grefstad, CEO of Storebrand
“Storebrand delivers record-strong operating profit in the quarter, with still solid underlying growth in the savings and insurance segments. I am pleased with the improved operating profit. This means we are well on track to deliver on the 2028 targets of NOK 7 billion in group profit and 17 percent return on equity.”
Odd Arild Grefstad, CEO of Storebrand
“I am particularly pleased that several large companies chose Storebrand as their pension provider in the quarter, while a growing number of retail customers chose us as their insurance provider. We are taking market shares in insurance and further strengthening our position with the acquisition of Knif Trygghet Forsikring, completed on 16 October.”
Odd Arild Grefstad, CEO of Storebrand
“Society needs preventive services. I am therefore very glad to see our VEL concept now delivering concrete results. So far this year VEL has reduced disability claims costs by around NOK 160 million, split between Storebrand and our customers. We were an early mover and are now well positioned with the industry's leading concept and a broad network of providers. Helping people back into work has numerous benefits, for individuals, for businesses and for society.”
Odd Arild Grefstad, CEO of Storebrand
“Storebrand's strategy is to grow in capital-light products and release capital from the guaranteed pension business. A strong balance sheet combined with higher earnings give room to both invest in growth and increase capital distribution to shareholders. The Board intends to propose a dividend of around NOK 6 per share for 2026 and a share buyback programme of NOK 2 billion for 2027, up from the previously communicated NOK 1.5 billion, subject to market conditions and necessary approvals.”
Storebrand ASA Record-strong operating profit, driven by positive development in the insurance business * Group profit [1] of NOK 1,517 million in the quarter and NOK 4,669 million year to date. * Operating profit of NOK 1,162 million, up 7 percent year-on-year. * Insurance result of NOK 895 million, combined ratio of 87 percent. * Return on Equity of 15 percent over the last twelve months. * Acquisition of Knif Trygghet Forsikring completed on 16 October. "Storebrand delivers record-strong operating profit in the quarter, with still solid underlying growth in the savings and insurance segments. I am pleased with the improved operating profit. This means we are well on track to deliver on the 2028 targets of NOK 7 billion in group profit and 17 percent return on equity," says CEO Odd Arild Grefstad.
"I am particularly pleased that several large companies chose Storebrand as their pension provider in the quarter, while a growing number of retail customers chose us as their insurance provider. We are taking market shares in insurance and further strengthening our position with the acquisition of Knif Trygghet Forsikring, completed on 16 October," says Grefstad.
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