Storebrand announced excellent figures for Q1 18, with a more than 50% jump in the insurer’s bottom line versus the same period in 2017. Compared to our model, the difference concerns the Guaranteed pension business, which outperformed estimates, representing 43% of the result before amortisation. For the moment, the integration of Skagen has led to higher operational costs, but Skagen is expected to contribute significantly to earnings by the end of the year.
25 Apr 2018
Promising start for a strong dividend at the end of the year
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Promising start for a strong dividend at the end of the year
Storebrand announced excellent figures for Q1 18, with a more than 50% jump in the insurer’s bottom line versus the same period in 2017. Compared to our model, the difference concerns the Guaranteed pension business, which outperformed estimates, representing 43% of the result before amortisation. For the moment, the integration of Skagen has led to higher operational costs, but Skagen is expected to contribute significantly to earnings by the end of the year.