Q1 2026 Storebrand ASA Earnings Call Transcript
Key Points
- Storebrand ASA (SREDF) reported a 28% growth in operational results, reaching NOK1,026 million.
- The company's solvency ratio reached a new high of 206%, indicating strong financial stability.
- Insurance segment experienced a 151% growth in results due to a significant increase in new customers.
- Asset management delivered a strong operational result growth of 41%, aided by disciplined cost management.
- Storebrand ASA (SREDF) continues to execute its strategy to grow capital-light business areas, maintaining strong growth in strategic focus areas.
- Market volatility negatively impacted assets under management, primarily due to currency effects.
- The reported tax charge for the quarter was unusually high at 36%, affecting earnings per share and return on equity.
- The bank segment experienced a softer quarter with a decline in net interest margin to 1.29%.
- The corporate insurance business faced challenges with higher than expected disability claims.
- The asset management segment saw a decline in assets under management due to negative currency effects.
Good morning, ladies and gentlemen, and welcome to Storebrandâs first quarter 2026 result presentation. As usual, our CEO, Odd Arild Grefstad, will present the key highlights, followed by CFO, Kjetil Ramberg Krokje, who will dive deeper into the numbers.
At the end of the presentation, participants in the teamâs webinar will have a chance to ask questions. Details on how to join the webinar are found on the investor relations website. Without further ado, I give the word to our CEO, Odd Arild Grefstad.
Thank you, Johannes, and good morning, everyone. Storebrand delivered a solid start to 2026. The macro backdrop of the first quarter was challenging with volatile financial markets. Yet our business model proved robust with positive developments across all business segments.
The operational result grew 28% to NOK1,026 million. The cash-based earning ended at NOK1,353 million, despite a moderate financial result due to mark-to-market effects.
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