Storebrand Q2 profit rises to NOK 1.43 bln, second share buyback tranche launched

Published 11/07/2025, 09:44
© Reuters.

Investing.com -- Storebrand ASA (OL:STB) on Friday posted a second-quarter profit of NOK 1.43 billion, up from NOK 1.20 billion a year earlier, as improved insurance performance and steady growth across business segments lifted results, sending shares up over 3%.

Storebrand also said it would begin the second tranche of its share buyback program, amounting to NOK 750 million. 

The tranche is part of a NOK 1.5 billion repurchase plan for 2025, of which the first half was completed on June 26. The current tranche will run through December 19.

Operational profit rose 16% year-over-year to NOK 953 million, which the company said was a record high. 

Return on equity reached 18% in the quarter. Fee and administration income came in at NOK 2.07 billion, a 10% increase compared with the second quarter of 2024, supported by growth in the savings segment across unit linked products, asset management and retail banking.

Total (EPA:TTEF) assets under management reached NOK 1.51 billion at the end of the quarter, up 16% from a year earlier, helped by the acquisition of AIP Management. Storebrand Bank’s loan book rose 12% year-over-year to NOK 92 billion.

The insurance business posted a combined ratio of 91%, an improvement from 97% in the first quarter. 

Premiums in the insurance portfolio increased 21% year-over-year to NOK 9.9 billion. Storebrand’s market share in the Norwegian retail property and casualty insurance market rose to 7.4%, up from 7.1% in the previous quarter.

Financial items and risk results added NOK 474 million in the quarter, up from NOK 384 million a year earlier. Net profit sharing contributed NOK 172 million.

The company reported a solvency ratio of 200%, compared with 191% in the same period last year. Storebrand said this remains above its 175% overcapitalization threshold.

Adjusted earnings per share were NOK 2.87, down from NOK 4.59 in the second quarter of 2024. Equity rose to NOK 31,609 million, from NOK 29,986 million a year ago.

Storebrand plans to continue annual share repurchases of NOK 1.5 billion through 2030, totaling NOK 12 billion. The company also intends to increase dividends. A strategic and financial update is scheduled for Capital Markets Day on December 10.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2025 - Fusion Media Limited. All Rights Reserved.