Storebrand ASA (LTS:0NO0)
kr 121.75 0 (0%) Market Cap: 52.86 Bil Enterprise Value: 93.15 Bil PE Ratio: 10.63 PB Ratio: 1.73 GF Score: 39/100
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Q2 2020 Storebrand ASA Earnings Call Transcript

Jul 15, 2020 / 08:00AM GMT
Release Date Price: kr51.94 (-5.92%)
Daniel Sundahl
Storebrand ASA - IR Officer

Good morning, ladies and gentlemen. Welcome to Storebrand's Second Quarter Results Presentation. As usual, CEO, Odd Arild Grefstad, will go through the key highlights before CFO, Lars Løddesøl, dives deeper into the numbers. At the end of the presentation, we will open up for questions and answers. In order to ask your questions, let me remind you that you have to be dialed in to the conference call. But without further ado, I give the word to CEO, Odd Arild Grefstad.

Odd Arild Grefstad
Storebrand ASA - Group CEO

Thank you, Daniel, and warm welcome, everyone. The situation in the Norwegian and Swedish society and markets following the COVID-19 pandemic has normalized a lot after the turmoil in the first quarter. Storebrand continued to experience strong growth in our core savings and insurance business, and the financial losses reported in the first quarter has partly been reversed in the second quarter.

Storebrandâs group profit for the second quarter is NOK 808 million. The result is 40% higher than the

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