Reuters logo
BRIEF-Storebrand Q1 group result beats forecast
April 27, 2017 / 5:39 AM / in 7 months

BRIEF-Storebrand Q1 group result beats forecast

April 27 (Reuters) - Storebrand Asa

* Q1 group result NOK 671 million (Reuters poll NOK 612 million)

* Solvency margin of 159 per cent

* Strong growth in unit link pensions, and a good financial result, are two main contributors to q1 result. Storebrand is fastest growing bank in norway when it comes to residential mortgages

* A dividend of more than 35% of the group result before amortisation after tax is expected for 2017. The expected development in the solvency margin indicates there will be a gradual increase in the dividend distribution rate

* The economic capital calculation for 2016 is reported in the quarter. The methodology for economic capital builds upon the solvency calculation. The calculation gives a group value of NOK 88.4 per share, an increase of NOK 5.3 per share from 2015 Source text for Eikon: Further company coverage: (Reporting By Terje Solsvik)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below