Storebrand recorded an excellent Q4 with a result before amortisation of NOK1,026m, up 82.2% yoy, allowing it to reduce the full-year annual decline to 3.8%, at NOK3,037m. All business lines performed in line with estimates. The Board proposed the distribution of NOK3.25/share, which means a strong payout ratio of 73%. The Solvency II ratio stood at 176% and has never been so close to the targeted 180%. We expect a share buy-back programme in the H2 20 – H1 21.
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Ending 2019 on a high note
Storebrand recorded an excellent Q4 with a result before amortisation of NOK1,026m, up 82.2% yoy, allowing it to reduce the full-year annual decline to 3.8%, at NOK3,037m. All business lines performed in line with estimates. The Board proposed the distribution of NOK3.25/share, which means a strong payout ratio of 73%. The Solvency II ratio stood at 176% and has never been so close to the targeted 180%. We expect a share buy-back programme in the H2 20 – H1 21.