STOREBRAND ASA: Update on uncertain tax position

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Storebrand has received a decision from The Norwegian Tax Administration (TNTA) regarding the uncertain tax position for the income year 2015, claiming changes should be made in the tax returns for Storebrand Livsforsikring AS.

Storebrand will not amend the accounts based on the decision as the Board of Directors in Storebrand disputes the legal basis for TNTA's interpretation.

The TNTA's decision has in itself no result or solvency impact on the Storebrand Group.

The TNTA's decision is based on similar grounds as the ones outlined in a draft decision Storebrand received on 23 May 2019 from TNTA, which Storebrand has disputed. The stock exchange notification from 2019 is accessible via Newsweb.

Storebrand will challenge the decision and the case will remain an uncertain tax position, described in more detail in note 26 of the annual accounts for 2020.

Lysaker, 21 March 2021


Head of Investor Relations: Daniel Sundahl or (+47) 913 61 899

Storebrand's ambition is to provide our customers with financial freedom and security by being the best provider of long-term savings and insurance. Storebrand will deliver sustainable solutions adapted to the customer's individual situation, so that each person receives a better pension in a more sustainable world. Storebrand has about 40.000 corporate customers and 2 million individual customers, and has its headquarter at Lysaker outside of Oslo, Norway. Storebrand manages NOK 962 bn and is one of the largest asset managers in the Nordics. Storebrand (STB) is listed on Oslo Stock Exchange. 

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This announcement is subject to information pursuant to the Securities Trading Act § 5-12.