Q2 2025 Storebrand ASA Earnings Call Transcript
Key Points
- Storebrand ASA (STU:SKT) delivered a record strong operating result with a 16% year-on-year increase, driven by strong growth in savings volumes and improved insurance results.
- The company achieved an annualized return on equity of 18% for the quarter, supported by a robust balance sheet with a 200% solvency ratio.
- Storebrand ASA (STU:SKT) plans to conduct NOK1.5 billion in share buybacks across 2025, demonstrating a commitment to returning capital to shareholders.
- The company reported double-digit growth across its business segments, including a 21% growth in the insurance portfolio over the last 12 months.
- Storebrand ASA (STU:SKT) exceeded NOK1.5 trillion in assets under management, reflecting a strong market position and ability to deliver value through active management.
- Market turbulence and geopolitical uncertainties continue to pose challenges, impacting asset management levels at times during the quarter.
- The Unit Linked business experienced a margin decline due to a significant drop in market values at the beginning of the quarter.
- The Asset Management segment faced delays in fundraising due to longer lead times in attracting new capital, resulting in a negative result for the first half of the year.
- The insurance segment's increased sales costs weakened the combined ratio by approximately 2 percentage points.
- Regulatory assumptions, volatility adjustment, and symmetric equity adjustment negatively affected the solvency margin.
Good morning, ladies and gentlemen, and welcome to Storebrand's second-quarter results presentation.
As usual, our CEO, Odd Arild Grefstad, will present the key highlights of the quarter; followed by CFO, Lars Aasulv Loddesol, 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, Odd Grefstad.
Thank you, Johannes, and hello, everyone.
It has been a relatively turbulent market in the second quarter, where asset management levels at times have been significantly lower than at the end of the quarter. The so-called Independence Day and uncertainty around global trade and geopolitics still looms over the markets, also going into the second half of 2025.
Despite the market turbulence
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