STOREBRAND ASA: Preliminary results for the 1st quarter
Impact from tax gains and effects from COVID-19 and economic turmoilStorebrand continues to grow its core business with 7 per cent currency adjusted (11 per cent unadjusted) growth in fee income in the quarter, but due to tax gains, COVID-19 and financial market turmoil, Storebrand will report numbers deviating from market expectations for the first quarter. Storebrand has in the quarter strengthened the reserves for all insurance products with disability coverages. NAV, the Norwegian Labour and Welfare Administration, has as of 22 April 2020 registered 359,197 applications for welfare