2010 Market Consistent Embedded Value: strong new business value
(Thomson Reuters ONE) -
* Embedded value earnings of NOK 3.2 billion in 2010.
* Value of new business doubled to 841 million.
* Improved quality of earnings with increased proportional value of unit
linked business.
* Embedded value of Life Group of NOK 30.6 billion at year-end 2010.
* Group MCEV of NOK 74.7 per share.
Result development in 2010
Total embedded value earnings for 2010 were NOK 3.2 billion, representing 11.1%
return for the year. Operational improvements and good investment performance
contributed positively to the result. Total operating earnings amounted to NOK
2.3 billion, while economic variances contribute positively in the order of NOK
0.8 billion.
The value of new business written in 2010 is NOK 841 million. This represents a
doubling of the value of new business compared to last year. The Swedish
operations show a particular strong development with almost three times the
value from new business in 2010.
The trend towards increased proportional value of non-guaranteed business
increases the quality of earnings. Unit linked products now represents 40% of
the total value of in-force.
Other
Storebrand will today hold a press and analyst conference at Hotel Opera
(Dronning Eufemias gate 4, Oslo), at 08.30 CET.
The MCEV presentation and disclosure document is available at
http://www.newsweb.no
These documents will also be available atwww.storebrand.no.
Lysaker, 9 March 2011
Contacts:
EVP Corporate Communications Egil Thompson: Mobile (+47) 93 48 00 12
Head of Investor Relations Trond Finn Eriksen: Mobile (+47) 99 16 41 35
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)
Storebrand 2010 MCEV presentation:
http://hugin.info/169/R/1495547/431317.pdf
Storebrand 2010 MCEV supplementary information:
http://hugin.info/169/R/1495547/431321.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Storebrand ASA via Thomson Reuters ONE
[HUG#1495547]
Unternehmensinformation / Kurzprofil:
Datum: 09.03.2011 - 07:26 Uhr
Sprache: Deutsch
News-ID 52261
Anzahl Zeichen: 2716
contact information:
Town:
Oslo
Kategorie:
Business News
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