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Storebrand ASA (STB.OL)

STB.OL on Oslo Stock Exchange

70.00NOK
20 Oct 2017
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Latest Key Developments (Source: Significant Developments)

Storebrand sells stake in asset manager Formuesforvaltning
Monday, 22 May 2017 07:50am EDT 

May 22 (Reuters) - Storebrand Asa :Storebrand Livsforsikring AS sells its 20.8 pct stake in Formuesforvaltning AS to Phoenix Management.Transaction is expected to give a positive result contribution of around NOK 85 million in q2 2017.  Full Article

Storebrand raises NOK 500 mln in bond issue
Friday, 12 May 2017 05:04am EDT 

May 12 (Reuters) - Storebrand Asa :Storebrand asa: successfully completed bond issue.Issued new unsecured bonds with a nominal amount of NOK 500 million ($58.17 million) and a tenor of 5 years, with a coupon of 3m nibor + 1.55 pct.The purpose of the bond issue is refinancing of existing debt. Nordea and SEB were Joint Lead Managers for the bond issue.  Full Article

Storebrand plans 5-year bond
Friday, 12 May 2017 03:21am EDT 

May 12 (Reuters) - Storebrand Asa :Contemplating a new senior unsecured bond issue with 5 years tenor.Purpose of bond issue is to refinance existing debt.Nordea and SEB have been appointed as joint lead managers for bond issue.  Full Article

Storebrand: Tor Olav Troim extends forward contracts for 7.450.000 shares
Friday, 5 May 2017 02:52am EDT 

May 5 (Reuters) - Storebrand Asa ::Drew holding ltd, a company affiliated with Tor Olav Troim, has on 4th may 2017 extended forward contracts for 7.450.000 shares.The new forward contract expires 3 November 2017 at price of NOK 58.655/share.Including the shares held directly by Drew, its total exposure in Storebrand is unchanged at 10.000.000 shares .Drew has, since September 2015, been represented on the board of directors of Storebrand by Mr. Håkon R. Fure..  Full Article

Storebrand Q1 group result beats forecast
Thursday, 27 Apr 2017 01:30am EDT 

April 27 (Reuters) - Storebrand Asa :Q1 group result NOK 671 million (Reuters poll NOK 612 million).Solvency margin of 159 per cent.Strong growth in unit link pensions, and a good financial result, are two main contributors to q1 result. Storebrand is fastest growing bank in norway when it comes to residential mortgages.A dividend of more than 35% of the group result before amortisation after tax is expected for 2017. The expected development in the solvency margin indicates there will be a gradual increase in the dividend distribution rate.The economic capital calculation for 2016 is reported in the quarter. The methodology for economic capital builds upon the solvency calculation. The calculation gives a group value of NOK 88.4 per share, an increase of NOK 5.3 per share from 2015.  Full Article

Norway insurers could make more non-insurance investment -ministry
Wednesday, 5 Apr 2017 06:06am EDT 

Norway's Finance Ministry said on Wednesday: Insurance companies should be allowed to hold stakes bigger than 15 percent in other companies . Says liberalising insurer rules would allow investment of pension funds in infrastructure such as in transportation and energy . Says financial regulator (FSA) will be asked to draft a plan to change the rules currently preventing insurers from owning more than 15 percent of non-insurance companies . Draft from FSA should be presented by June 1 and will be sent on a round of hearings to relevant institutions .Says new capital requirements that have been introduced in recent years made the old restrictions less relevant.  Full Article

Storebrand nominates Didrik Munch as new board chairman
Wednesday, 8 Mar 2017 02:00am EST 

Storebrand Asa : Says Didrik Munch is nominated as the new Board Chairman of the company, succeeding Birger Magnus, who is resigning after serving in the office for eight year . Says Munch has long and varied experience from the public and private business sectors, particularly from the finance and media industries, most recently as the Division Director for the Corporate Market at DNB group . Says the Nomination Committee has also decided to nominate the sitting board members for election to a new one-year term .The election of a new Board of Directors will take place at the Annual General Meeting of Storebrand on 5 April 2017.  Full Article

Storebrand Q4 beats forecast, dividend higher than expected
Wednesday, 8 Feb 2017 01:30am EST 

Storebrand Asa : Storebrand q4 group result NOK 912 million (Reuters poll NOK 603 million) . Storebrand proposes 2016 dividend of NOK 1.55 per share (Reuters poll NOK 1.09 per share) . Says we are expecting a gradual increase in dividends in coming years . Says expected dividend of more than 35 per cent of the result for 2017 .Says expected development in the solvency ii ratio implies a further gradual increase in the dividend payout ratio from 2018 onwards.  Full Article

BRIEF-Storebrand Q4 beats forecast, dividend higher than expected
Wednesday, 8 Feb 2017 01:30am EST 

Storebrand Asa : Storebrand q4 group result NOK 912 million (Reuters poll NOK 603 million) . Storebrand proposes 2016 dividend of NOK 1.55 per share (Reuters poll NOK 1.09 per share) . Says we are expecting a gradual increase in dividends in coming years . Says expected dividend of more than 35 per cent of the result for 2017 .Says expected development in the solvency ii ratio implies a further gradual increase in the dividend payout ratio from 2018 onwards.  Full Article

Storebrand loses appeal over Swedish SPP unit's capital
Friday, 18 Nov 2016 08:30am EST 

Storebrand Asa : Says Swedish court Kammarratten has rejected Storebrand subsidiary SPP's appeal of the Administrative Court of Stockholm verdict from Dec. 9 2015 . Says judgement from 2015 was in respect of an appeal lodged by SPP against a decision issued by the Swedish Financial Supervisory Authority (FI) in 2014, in which FI refused permission to include the subordinated loan in the capital base . The loan is today not included in the capital base and todays judgement does consequently not affect the solvency ratio under today's Solvency regulations .Says will analyse the judgement before deciding whether or not to lodge an appeal.  Full Article

BRIEF-Artemis Investment Management raises Storebrand stake to 5,14 pct

* Due to a purchase of 700,000 shares on 28th september 2017 artemis investment management holds 5.14 percent stake, or 23,145,079 shares Further company coverage: (Reporting By Oslo Newsroom)