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Storebrand ASA >
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From headwinds to tailwinds

  • 06 Jul 2020

From headwinds to tailwinds


Storebrand ASA (SKT:FRA) | 0 0 0.0%


  • Arctic Securities
    • Roy Tilley

    • 13 pages

Life Insurance image


 
Life Insurance image


Q2 should be a clear improvement upon a turbulent first quarter, helped by strong financial markets, good premium growth and a higher AuM. We’ve lifted our Q2 and 2020 estimate for EPS, but have kept 21/22e relatively unchanged. Solvency should benefit from strong equity markets and tighter spreads, but lower rates and a sharp VA reduction means we see a slide to 151% (155%) excl. transitionals and a flat 172% q/q incl. transitionals.

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From headwinds to tailwinds


Storebrand ASA (SKT:FRA) | 0 0 0.0%


  • Published: 06 Jul 2020
  • Author: Roy Tilley
  • Pages: 13
  • Arctic Securities


Q2 should be a clear improvement upon a turbulent first quarter, helped by strong financial markets, good premium growth and a higher AuM. We’ve lifted our Q2 and 2020 estimate for EPS, but have kept 21/22e relatively unchanged. Solvency should benefit from strong equity markets and tighter spreads, but lower rates and a sharp VA reduction means we see a slide to 151% (155%) excl. transitionals and a flat 172% q/q incl. transitionals.

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