Storebrand Asa · OSL:STB

Storebrand Asa — 20th Annual Banking, Insurance & Diversified Financials CEO Conference (October 2015)

14 slides from Storebrand Asa's conference presentation, October 2015

  1. Slide 1: Shaping a business fit for the post-crisis era

    Shaping a business fit for the post-crisis era 20th Annual Banking, Insurance & Diversified Financials CEO Conference CEO Odd Arild Grefstad

  2. Slide 2: The Storebrand Group

    The Storebrand Group Leading Nordic Life and Pension provider  40 000 corporate customers  1.9 million individuals with pensions in Storebrand  NOK 117 bn in Unit Linked reserves  NOK 259 bn in Guaranteed reserves  100% of investments assessed by sustainability criteria  History of the group d

  3. Slide 3: Sound Nordic macro environment enables growth in pension savings

    Sound Nordic macro environment enables growth in pension savings General government debt as % of GDP Unemployment rates 1 250 14% 150 12% 50 10% -50 8% 6% -150 4% -250 2% Denmark Greece Sweden Euro area Poland Finland Italy Germany Netherlands United Kingdom France Spain United States Switzerland No

  4. Slide 4: Attractive and growing Nordic occupational pensions market

    Attractive and growing Nordic occupational pensions market Assets under Management Assets under Management in private sector Norway* Life insurance Sweden private sector** BNOK Defined contribution Defined benefit Unit linked Paid-up policies (from DB) Guaranteed 3 338 +12% 2 890 +10% 496 953 472 2

  5. Slide 5: Strategic business transformation

    Strategic business transformation - Key factors that shape our financial landscape Illustrative A Income Savings and Insurance We grow our income in capital efficient savings and insurance.. B Income Guaranteed pensions … at the same time income from the guaranteed back book is in decline… C Operati

  6. Slide 6: Dual strategy - Transformation of the business model

    Dual strategy - Transformation of the business model Manage the guaranteed balance sheet Continued growth in savings and insurance Retail customers Employees Capital Risk optimization reduction Corporate relation >130% Solvency II Save for < retirement Margin Product optimization Cost reduction We w

  7. Slide 7: Strong track record during last three years

    Strong track record during last three years Manage guaranteed balance sheet Equity (NOK bn) Tangible equity (NOK bn) 9,4% 25 +31% 15,1% 20 +52% 19 13 2012 2015 2012 2015 Solvency I margin AuM (NOK bn) +31 pp 183% +20% 9,2% 552 +30% 152% 424 2012 2015 2012 2015 7 Note: Diagrams show development from

  8. Slide 8: Estimated SII position Life Group and sensitivities

    Estimated SII position Life Group and sensitivities Manage guaranteed balance sheet Economic Solvency position(%)1 Estimated Sensitivities after 1.1.20162 Target SII margin 152 154 1.1.2016 =130% 54 40 Estimated economic SII-margin Q2 2015 154 98 114 Interest rates -50bp 134 Q1 2015 Q2 2015 Interest

  9. Slide 9: Paid up policies is the main challenge in a low interest scenario and under SII

    Paid up policies is the main challenge in a low interest scenario and under SII… Manage guaranteed balance sheet …But still manageable both short and long term Expected return paid up polices without use of buffers 2015-20201 …including reinvestment due and expected issuance  2015-2020: Longevity r

  10. Slide 10: Continued growth in savings and insurance

    Continued growth in savings and insurance Continued growth in Savings and Insurance Accelerate growth in savings and insurance 1 Maintain market leader role in growing occupational pensions market (B2B) 3 Retail customers 2 Employees 1 Corporate relation 2 Convert employees to loyal Save for and pro

  11. Slide 11: Maintain market leader role in growing occupational pensions market

    1 Maintain market leader role in growing occupational pensions market Continued growth in Savings and Insurance - Storebrand is traditionally a customer centric B2B company Norway – market leader defined Sweden – growing in defined contribution (private sector)1 contribution (private sector)2 33% 27

  12. Slide 12: Convert employees to profitable and loyal retail customers

    2 3 Convert employees to profitable and loyal retail customers Continued growth in Savings and Insurance An increasing share of employees become active retail customers… Employees who have become retail customers, Employees enrolled in Storebrand's loyalty program, in thousands in thousands 428 430

  13. Slide 13: Growth in Savings and Insurance continues

    Growth in Savings and Insurance continues Continued growth in Savings and Insurance Unit Linked Asset management +25.0% 117 +8.6% 552 105 535 85 487 64 442 54 414 2011 2012 2013 2014 2Q 2015 2011 2012 2013 2014 2Q 2015 UL reserves (BNOK) AuM (BNOK) Save for retirement Insurance Retail loans +3.5% +1

  14. Slide 14: Investor Relations contacts

    Investor Relations contacts Lars Aa Løddesøl Group CFO lars.loddesol@storebrand.no +47 9348 0151 Sigbjørn Birkeland Finance Director sigbjorn.birkeland@storebrand.no +47 9348 0893 Kjetil R. Krøkje Head of IR kjetil.r.krokje@storebrand.no +47 9341 2155 Lars Kramer VP Capital Management lars.kramer@st

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