Storebrand ASA: Capital Markets Day 2014
Storebrand will today host a capital markets day in London. All presentations are attached to this announcement, and can also be found on Storebrand`s web site www.storebrand.no/ir.
The key take aways from today's presentations are:
- Storebrand continue to grow the business within long term savings and insurance
- Storebrand reports for the first time an economic Solvency II calculation. The Solvency II ratio are estimated to be 125 per cent as of Q3 2014, and is expected to be between 125 per cent and 150 per cent at the time of implementation of Solvency II in 2016
- Storebrand will deliver on the communicated cost targets for 2014, and will report a cost/income ratio going forward
The Board of Directors in Storebrand ASA confirms the dividend policy. Financial targets are updated with a new Solvency II target of minimum 130 per cent. Given the short time period before finalization of Solvency II regulations, the low interest rate environment and the continued reserve strengthening for longevity, it is unlikely that the Board of Directors will propose a dividend for 2014
Webcast from today's presentations will be available throughout the day on www.storebrand.no/ir from 10:00 CET.
Lysaker, 26 November 2014
Head of Investor Relations Trond Finn Eriksen: Mobile (+47) 99 16 41 35
Finance Director Sigbjørn Birkeland: Mobile (+47) 93 48 08 93
This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)