Storebrand ASA: Moody’s revises the Storebrand Livsforsikring AS rating from A3 to Baa1

Moody’s Investor Service, the rating agency, has revised the Storebrand Livsforsikring AS’ Financial Strength Rating from A3 to Baa1. The outlook was adjusted upwards, from “negative” to “stable”.

In its announcement, Moody’s writes that the difficult macroeconomic environment with record low interest rates combined with the capital consumptive paid-up policies are the main drivers that have led to the decision. Moody's stable outlook reflects its expectation that the group's management actions will over time strengthen the group's economic capitalisation from current levels.

Storebrand has a strong capital base, with a solvency I ratio of 182 percent at the end of Q3.

This is a translation of a company announcement in the Norwegian. In case of discrepancies, the Norwegian version prevails.

Lysaker, 17 December 2014

Contacts:

Finance Director Sigbjørn Birkeland: sigbjorn.birkeland@storebrand.no or +47 934 80 893

Head of IR Kjetil Krøkje: kjetil.r.krokje@storebrand.no or +47 934 12 155