Storebrand Asa Unsp/Adr (SREDY) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning ladies and gentlemen, and welcome to Storbrand's second quarter result presentation. As usual, our CEO Odd Ariel Grefstad will present the key highlights of the quarter, followed by CFO Lars Ledersøl, who will dive deeper into the numbers. At the end of the presentation, participants in the team's webinar will have a chance to ask questions. Details on how to join the webinar are found on the Investor Relations website. But without further ado, I give the word to our CEO, Odd-Aril Grefstad. Thank you, Johannes, and hello, everyone. It has been a relatively turbulent market in the second quarter, where asset management levels at times has been significantly lower than at the end of the quarter. The so-called Independence Day and uncertainty around global trade and geopolitics still looms over the markets, also going into the second half of 2025. Despite the market turbulence, Storebrand delivers a record strong operating result as the business continues to grow double digits. I am pleased to see that we gained trust among new and existing customers. And we are well on track to deliver on our 5 billion result target for 2025. Now, let me give an overview of the second quarter's highlights. Storbrand's group cash-based earnings amounted to 1,427 million in the quarter. The operating result was 953 million, up by 16% year on year. The operating result was driven by continued strong growth in savings volumes and strongly improved insurance results, in combination with increased market share. The financial result of 474 million was made up by profit sharing and return on company capital. In sum, this has led to an analyzed return on equity at 18% in the quarter, and a robust balance sheet with a 200% solvency ratio. The strong balance sheet means continued rep...