Q3 2025 Storebrand ASA Earnings Call Transcript
Key Points
- Storebrand ASA (SREDF) reported substantial growth and improved profitability in the third quarter.
- The company's asset management division reached a record high of 1,561 billion in assets under management, with net inflows of 16 billion.
- Storebrand Norge, the flagship Norwegian equity fund, delivered a remarkable 10,000% net return since its launch in 1983.
- The retail insurance portfolio premium grew by 26% year-on-year, and the bank lending portfolio increased by 12% to 95 billion.
- Storebrand ASA (SREDF) is ahead of its sustainability targets and was ranked among the top 5% in the insurance industry in the S&P Global Corporate Sustainability Assessment.
- The solvency margin decreased to 195% from 200% last quarter, impacted by a $750 million buyback program and accrued dividends.
- Changes to the Norwegian VAT Act are expected to have a negative cost impact of approximately 100 million annually starting from the second half of 2026.
- The infrastructure asset manager AIP reported a negative result of around 10 million in the quarter and 60 million year-to-date due to longer lead times in attracting new capital.
- The insurance segment experienced increased sales costs, weakening the combined ratio by approximately 2% points compared to the same period last year.
- The company faces challenges with rising disability levels, which are a pressing issue for Norwegian society, impacting insurance claims.
Good morning ladies and gentlemen, and welcome to Storan's 3rd quarter result presentation.
As usual, our CEO O Dagrevta will present the key highlights of the quarter, followed by CFO Jereche, who will dive deeper into the numbers.
At the end of the presentation, participants in the team's webinar will have a chance to ask questions. Details on how to join the webinar are found on the investor relations website.
But without further ado, I give the word to our CEO of A.
Stop.
Thank you, Johannes and good morning everyone.
I am excited to share another strong quarter with you, marked by substantial growth and improved profitability.
We gained trust among new and existing customers and are on track to deliver on our targets for 2025.
Before I get into the numbers, I want to highlight one important change in our executive management team.
Seatil Creche, as many of you are
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