STOREBRAND ASA: Results for the 2nd quarter 2023
· Cash equivalent earnings of NOK 777m in the quarter and NOK 1,550m year to date · Combined ratio of 96% in the quarter impacted by claims inflation, increased claims frequency in motor and disability · Solvency II ratio 196%, increase of 17 percentage points from last quarter · Share buyback of NOK 1bn approved for H2 2023, tranche of NOK 500m starts today During the last quarter interest rates in Norway and Sweden have increase to levels we have not seen for decades, driven by persistent high inflation. These factors have improved asset under management and earnings, but also