Edition:
United States

Storebrand ASA (STB.OL)

STB.OL on Oslo Stock Exchange

57.40NOK
24 Mar 2017
Change (% chg)

kr-0.05 (-0.09%)
Prev Close
kr57.45
Open
kr57.40
Day's High
kr57.70
Day's Low
kr56.90
Volume
1,370,624
Avg. Vol
2,185,034
52-wk High
kr60.40
52-wk Low
kr28.40

Latest Key Developments (Source: Significant Developments)

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

Norway sets Storebrand Bank pillar 2 requirement at 1.8 pct
Thursday, 17 Nov 2016 06:53am EST 

Storebrand Asa :Says Norway's Financial Supervisory Authority (FSA) sets pillar 2 requirement for Storebrand Bank to 1.8 pct of risk-weighted assets.  Full Article

Storebrand well positioned for dividend, share buybacks -CEO
Wednesday, 26 Oct 2016 04:55am EDT 

Storebrand Asa : CEO Odd Arild Grefstad says company is well positioned to give owners a good return on investment in the form of dividends and/or share buybacks in the coming time . Grefstad says Q3 report strengthens company's dividend guidance; expects to pay at least a half dividend for 2016 . CFO Lars Loeddesoel says company expects growth rate in insurance industry to be back at double digit level within 18-24 months . Storebrand on Wednesday reported third-quarter earnings ahead of forecasts [nFWN1CW08Z] Further company coverage: [STB.OL] (Reporting By Terje Solsvik) ((terje.solsvik@thomsonreuters.com;)).  Full Article

Insurer Storebrand ends engagement of Moody's
Tuesday, 19 Jul 2016 06:02am EDT 

: Storebrand asa says due to cost reduction program, storebrand has initiated a process targeting to end engagement of Moodys . Storebrand asa says S&P global will continue to cover all funding identities, programs and issues in group where credit rating is or will be desired Further company coverage: [STB.OL] (Reporting By Stine Jacobsen) ((stine.jacobsen@thomsonreuters.com;)).  Full Article

Insurer Storebrand sees minimum half dividend in 2016, little Brexit effect
Thursday, 14 Jul 2016 01:42am EDT 

Storebrand says: Q2 group result NOK 798 million (Reuters poll NOK 506 million) . Solvency ratio at the end of the second quarter was 172 pct. A minimum level for dividend payments is a solvency ratio excluding transition rules of 110 pct. The solvency ratio excluding transition rules by the end of the second quarter was 122 pct . dividends will normally represent over 35 pct of group profit before amortization after tax. Minimum half dividend is expected for 2016 . A gradual improvement is expected in the underlying solvency margin in the coming years . The greatest impact from Brexit has been the fall in European interest rates. This has consequences for guaranteed pension portfolios, but is counteracted by the building up of buffer capital and adjustments in the investment portfolio .To reduce costs with NOK 3-400 million by the end of 2018.  Full Article

Storebrand CFO: Return on equity to be below target in 2016-17
Friday, 13 May 2016 05:55am EDT 

Storebrand Asa : CFO Lars Loeddesoel told an investor conference: return on equity is expected to be below the company's 10 percent target in 2016 and 2017 Further company coverage: [STB.OL] ((terje.solsvik@thomsonreuters.com;)).  Full Article

Storebrand says to resume dividends, cut costs
Friday, 13 May 2016 02:40am EDT 

Storebrand Asa : Says targets dividend ratio above 35 pct (after tax adjusted for amortisation). Minimum half dividend is expected for 2016 . Says "we have reached our goal of entering Solvency II without raising new equity capital, and we are now set to resume dividend payments" . Targets return on equity above 10 pct (after tax adjusted for amortisation) . Annual operational costs to be reduced by nok 300 million-400 million in 2018 . Says targets solvency II margin Storebrand group above 150% (revised from 130 pct) . Says dividends linked to group solvency ratio . Says no dividend if solvency ratio without transition rules is below 110 percent .Capital consumption from guaranteed products expected to peak within approximately two years.  Full Article

More From Around the Web

BRIEF-Storebrand nominates Didrik Munch as new board chairman

* 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