Storebrand

#2981

Rank

$3.71B

MarketCap NO

NO Norway

Country

Summary
Storebrand ASA, through its subsidiaries, primarily provides insurance products and services in Norway the United States, Japan, and Sweden. The company operates through four segments: Savings, Insurance, Guaranteed Pension, and Other. The Savings segment offers retirement savings, defined contribution pensions, asset management, and retail banking products. The Insurance segment provides health insurance, property and casualty insurance, personal risk products, and employee-related and pension-related insurance products. The Guaranteed Pension segment offers long-term pension savings products, such as defined contribution pensions, paid-up policies, and individual capital and pension insurance products. The Other segment provides life insurance products. It also offers securities, and banking and investment services. The company serves private individuals, corporate and retail markets, companies, municipalities, and public sector. Storebrand ASA was founded in 1767 and is headquartered in Lysaker, Norway.

History

The company traces its roots back to 1767 when Den almindelige Brand-Forsikrings-Anstalt, later Norges Brannkasse, was formed.

In 1982 Storebrand merged with its competitor, insurance company Norden, to form the Storebrand-Norden group. The company changed its name to AS Storebrand in 1986.

In 1991 Storebrand merged with the companies under the UNI Forsikring trademark , to become UNI Storebrand. Later attempts to acquire Swedish insurance company Skandia, together with Danish company Hafnia and Finnish company Pohjola, to form a large Nordic insurance company under Norwegian leadership, failed in 1992. This caused the share prices of UNI Storebrand to plummet and the government took control of the company. In 1993 the company successfully managed to restructure its debt and was again made available for trading on the Oslo Stock Exchange.

In 1996 the company changed its name to Storebrand ASA, and was granted governmental concession to operate banking services through its fully owned subsidiary Storebrand Bank.

The following year, attempts to merge with Christiania Bank og Kreditkasse, now part of Nordea, failed as Storebrand did not achieve the necessary ? majority for the merger from its shareholders. 63,38 percent voted for.

In 1999 Storebrand merged its P&C insurance division with similar divisions of Skandia and Pohjola to form If P&C Insurance, in which Storebrand retained an ownership share of 33 percent. The shares were later sold, a natural consequence of Storebrand starting a new P&C insurance division to become a competitor of If, while If also became a competitor of Storebrand by selling health insurance and certain pension plans.


Mission
Storebrand's mission is to make our customers and the communities we serve financially secure, providing them with the resources to achieve and sustain their financial goals and objectives.

Vision
Storebrand aims to be the preferred long-term finance partner in Norway, Sweden and Denmark, offering protection and savings products, financial advice and wealth management services to individuals and businesses.

Key Team

Ms. Tove Selnes (Exec. VP of People)

Ms. Heidi Skaaret (Exec. VP of Retail)

Mr. Trygve Hakedal (Exec. VP of Digital)

Mr. Jan Erik Saugestad (Chief Exec. Officer of Storebrand Asset Management)

Mr. Daniel Sundahl (Head of Investor Relations & Rating)

Mr. Faisal Khan (Sr. VP and Head of M&A)

Ms. Jenny Rundbladh (Exec. VP of Commercial Sweden)


Recognition and Awards
Storebrand has been awarded with several awards in the financial services sector, such as Best Life Insurance Company in Norway by Financial Times, Money Magazine's Best Insurance Provider in Sweden, and numerous others.

References
Storebrand
Leadership team

Mr. Odd Arild Grefstad (Group Chief Exec. Officer)

Mr. Lars Aasulv Loddesol (Group CFO, Interim MD of Storebrand Livsforsikring AS and EVP of Strategy & Legal)

Ms. Karin Greve-Isdahl Flaa (Exec. VP of Communications, Sustainability & Public Affairs)

Products/ Services
Financial Services
Number of Employees
1,000 - 20,000
Headquarters
Lysaker, Akershus, Norway
Established
1767
Net Income
100M - 500M
Traded as
STB.OL
Sat Feb 24 2024
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