STOREBRAND ASA: Results for the 2nd Quarter 2020
Growth in Core Business and Assets under Management, Solvency Affected by low Interest Rates· Group profit of NOK 808m in the 2nd quarter, 40% growth y/y · 23% growth in Unit Linked premiums y/y · 15% growth in insurance portfolio premiums y/y, Combined Ratio 92% · Assets under management (AuM) NOK 880 billion, 17% growth y/y · Solvency II ratio 163% (167% Q2 2019) - The situation in the Norwegian and Swedish society and markets following the COVID-19 pandemic has started to normalise after a turbulent first quarter. Group profit is strong, we experience strong growth in our