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Storebrand ASA (STB.OL)

STB.OL on Oslo Stock Exchange

73.18NOK
10:25am EDT
Change (% chg)

kr1.74 (+2.44%)
Prev Close
kr71.44
Open
kr71.42
Day's High
kr73.54
Day's Low
kr69.26
Volume
3,108,842
Avg. Vol
1,732,148
52-wk High
kr73.54
52-wk Low
kr60.80

Latest Key Developments (Source: Significant Developments)

Storebrand Q1 group result beats forecast
Wednesday, 25 Apr 2018 01:30am EDT 

April 25 (Reuters) - Storebrand ASA ::Q1 GROUP RESULT NOK 931 MILLION (REUTERS POLL NOK 600 MILLION).SOLVENCY II RATIO 165%.GROWTH IN SAVINGS, COMBINED WITH STRONG RISK AND INSURANCE RESULTS, CONTRIBUTES TO STRONG RESULT IN QUARTER.STOREBRAND ACQUIRES REMAINING 8 % OF STOCKS IN SKAGEN AS AND NOW OWNS 100% OF COMPANY .TRANSACTION IS EXPECTED TO BE CLOSED BY END OF APRIL, FUNDED WITH LIQUIDITY FROM SKAGEN.SUCCEEDS IN SHIFT FROM GUARANTEED TO NON-GUARANTEED BUSINESS, WHILE AT SAME TIME KEEPING STRICT COST CONTROL IN LINE WITH OUR TARGET TO REDUCE COST IN 2018.THE MARKET FOR DEFINED-CONTRIBUTION PENSIONS IS GROWING, AND STOREBRAND’S TOTAL RESERVES WITHIN UNIT LINKED INCREASED BY 17% IN THE LAST 12 MONTHS, CONTINUED GOOD GROWTH FOR DEFINED-CONTRIBUTION PENSIONS IS EXPECTED IN THE FUTURE.STOREBRAND - A DIVIDEND OF MORE THAN 50% OF THE GROUP’S RESULT AFTER TAX AND A HIGHER NOMINAL LEVEL THAN THE 2017 ORDINARY DIVIDEND IS EXPECTED FOR 2018.  Full Article

Tor Olav Troim's Drew Holding sold its Storebrand stake
Wednesday, 21 Feb 2018 02:39am EST 

Feb 21 (Reuters) - Storebrand Asa ::‍DREW HOLDING LTD, A COMPANY AFFILIATED WITH TOR OLAV TROIM, HAS ON 20 FEB CLOSED A TRS CONTRACT UNDERLYING 7.450.000 SHARES​.‍DREW HAS ON SAME TIME BOUGHT SAME NUMBER OF SHARES, 7.450.000, AT A PRICE OF NOK 70,016/SHARE​.‍DREW HAS SUBSEQUENTLY SOLD 10,000,000 SHARES OF STOREBRAND AT A PRICE OF NOK 68,15​.‍AFTER THIS TRANSACTION DREW WILL NOT HAVE ANY SHARES OR TRS EXPOSURE IN STOREBRAND​.‍DREW HAS, SINCE SEPTEMBER 2015, BEEN REPRESENTED ON BOARD OF DIRECTORS OF STOREBRAND BY MR. HÅKON R. FURE​.  Full Article

Bookrunner Says Accelerated Bookbuilt Offering Of About 13 Mln Ordinary Shares Of Storebrand ASA
Tuesday, 20 Feb 2018 11:34am EST 

Feb 20 (Reuters) - BOOKRUNNER::BLOCKTRADE - STOREBRAND ASA: BOOKRUNNER SAYS ACCELERATED BOOKBUILT OFFERING OF C.13 MILLION ORDINARY SHARES OF STOREBRAND ASA.BLOCKTRADE - STOREBRAND ASA: BOOKRUNNER SAYS OFFERING OF ABOUT 13M SHARES REPRESENTING C.NOK 909M/ $116M BASED ON CLOSING PRICE OF NOK 69.96 ON FEB 20.  Full Article

Bookrunner Says Storebrand Accelerated Bookbuilt Offering Priced At NOK 68.15 Per Share‍​
Tuesday, 20 Feb 2018 10:56am EST 

Feb 20 (Reuters) - BOOKRUNNER::BLOCK TRADE - STOREBRAND ASA: BOOKRUNNER SAYS ACCELERATED BOOKBUILT OFFERING PRICED AT NOK 68.15 PER SHARE‍​.  Full Article

Storebrand's board chairman bought 15,000 shares
Friday, 16 Feb 2018 10:21am EST 

Feb 16 (Reuters) - Storebrand Asa ::‍CHAIRMAN DIDRIK MUNCH HAS TODAY PURCHASED 15,000 SHARES IN STOREBRAND ASA AT NOK 69.19 PR. SHARE​.  Full Article

Storebrand closes Skagen takeover
Thursday, 7 Dec 2017 04:37am EST 

Dec 7 (Reuters) - Storebrand Asa ::‍IN ACCORDANCE WITH SHARE PURCHASE AGREEMENT ENTERED INTO, STOREBRAND HAS TODAY ACQUIRED ALL OF A-SHARES AND 10,000 OF B-SHARES IN SKAGEN AS​.  Full Article

‍Storebrand Liv issues SEK 1 bln tier 2 bond
Tuesday, 7 Nov 2017 06:56am EST 

Nov 7 (Reuters) - Storebrand Asa :‍storebrand livsforsikring as - successful placement of new tier 2 bond​.‍storebrand livsforsikring as has today successfully issued a new SEK 1 billion solvency ii compliant tier 2 bond issue with a coupon of 3m stibor + 2.00 per cent.The transaction was substantially oversubscribed. The bonds will be applied for listing on the Oslo Bourse.Danske Bank and Nordea acted as joint lead managers for the bond issue​.  Full Article

Storebrand q3 group result above forecast
Wednesday, 25 Oct 2017 01:34am EDT 

Oct 25 (Reuters) - Storebrand Asa :Storebrand q3 group result NOK ‍773​ million (Reuters poll nok 661 million) vs NOK 676 mln in Q3 2016.  Full Article

Norway's Storebrand to buy asset manager Skagen
Wednesday, 25 Oct 2017 01:30am EDT 

Oct 25 (Reuters) - Storebrand Asa :Storebrand acquires SKAGEN and strengthens its position in a growing savings market.The acquisition increases the Storebrand Group's share of the of NOK 221 bn private fund savings market from 4% to 17%.SKAGEN has approximately 140,000 unit holders.Storebrand will acquire all of the A-shares, and 10 000 of the B-shares in SKAGEN, equivalent to 90.95% of the share capital in the company and 99.9% of the voting rights in the company‍.Will pay selling skagen shareholders a sum of NOK 1.6 billion for shares at time of transaction​.‍75% of price will be new issued shares in storebrand asa and 25% will be in cash​.‍in addition, there is a possibility of an additional earnout based on positive development in skagen's results and income, and a share of performance fees as a result of excess return relative to skagen funds' relevant benchmarks​.‍cash payment will be financed by sale of short-term bonds in storebrand asa's liquidity portfolio, which will amount to nok 1.5bn after transaction​.‍in addition to liquidity portfolio, storebrand asa has an unused credit facility of eur 240m​.‍transaction is expected to have an immediate 2 percentage point negative impact on storebrand's solvency margin​.‍it is expected that transaction will strengthen group's solvency margin and dividend capacity going forward​.  Full Article

Storebrand to acquire Silver's insurance portfolio for NOK 520 mln
Tuesday, 24 Oct 2017 10:31am EDT 

Oct 24 (Reuters) - Storebrand ASA :‍has signed an agreement to take over silver's insurance portfolio for nok 520 mln.The purchase is financed by the company portfolio in Storebrand Livsforsikring AS.Silver's 21,000 policies and NOK 10 bln in pension assets will be transferred to Storebrand​.‍It is expected that purchase will provide an operating result before tax of approximately nok 60m a year​.‍In 2018 a negative result effect of approximately nok 45m is expected to align assumptions in new insurance portfolio and other financial effects.‍A deferred tax asset of nok 300m will be recognized on balance sheet to reflect tax loss carried forward loss in silver​.‍The agreement presupposes that no more than 20 pct of silver's customers object to solution by deadline set by silver and public approvals.‍Transaction is expected to be completed during january 2018​.  Full Article

Storebrand sees increased dividends, potential for Nordic expansion

** Storebrand expects to pay out increased dividends going forward, as new business is less capital intensive and with increasing profit sharing from its portfolios, but will also actively look for possibilities to expand is business outside Norway, the company said during an investor day in London on Thursday