Storebrand released positive figures for Q2, marked by an improvement in the operating profit (up 22.3% yoy to NOK580m) and stability in the net profit (NOK453m). The key Savings segment followed a positive trend in terms of business volume and profitability, while those of Insurance are recovering gradually. The Solvency II ratio, without the use of transitional rules, is a serious source of concern as it stood at only 137%.
15 Jul 2020
Solid business model, but weak capital position
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Solid business model, but weak capital position
Storebrand released positive figures for Q2, marked by an improvement in the operating profit (up 22.3% yoy to NOK580m) and stability in the net profit (NOK453m). The key Savings segment followed a positive trend in terms of business volume and profitability, while those of Insurance are recovering gradually. The Solvency II ratio, without the use of transitional rules, is a serious source of concern as it stood at only 137%.