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UPDATE 1-Storebrand Q3 beats forecast, sees rising dividend capacity
October 25, 2017 / 9:35 AM / in 25 days

UPDATE 1-Storebrand Q3 beats forecast, sees rising dividend capacity

(Adds quotes, detail)

Oct 25 (Reuters) - Storebrand Asa

* Q3 group result NOK ‍773​ million (Reuters poll NOK 661 million) vs NOK 676 mln in Q3 2016

* Q3 operating result NOK 596 mln

* Maintains guidance of quarterly operating result above NOK 500 million on a normalised basis, CFO Lars Aa. Loeddesoel said while presenting the company’s earnings

* Cuts growth ambition for insurance segment; says still aims for growth, but below previous target of 10 percent

* CEO Odd Arild Grefstad says “fully committed to deliver on the dividend policy”, expects acquisition of Skagen to increase dividend capacity going forward

* A dividend of more than 35 pct of the group’s result before amortisation after tax is expected for 2017

* On Skagen acquisition: expects initial cost synergies to reduce combined cost base by NOK 50 million. For more:

* Share trades 2.1 percent higher at NOK 70.3 at GMT 0930 Source text for Eikon: Further company coverage: (Reporting by Camilla Knudsen, editing by Terje Solsvik)

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