Contrary to expectations, Storebrand posted lower than expected Q1 19 figures. Profit after tax dropped by 32.1% to NOK494m. All segments showed weaknesses, mainly the Insurance business. The Savings (non-guaranteed) business, which is the future of the insurer’s profitability after the collapse of the traditional products’ portfolio, was also under pressure. In light of this performance, we will revise down our forecasts. The insurer should recover in the coming quarters, but ach
09 May 2019
Complex Q1 19
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Complex Q1 19
Contrary to expectations, Storebrand posted lower than expected Q1 19 figures. Profit after tax dropped by 32.1% to NOK494m. All segments showed weaknesses, mainly the Insurance business. The Savings (non-guaranteed) business, which is the future of the insurer’s profitability after the collapse of the traditional products’ portfolio, was also under pressure. In light of this performance, we will revise down our forecasts. The insurer should recover in the coming quarters, but ach