Our strategy and business model

The Storebrand Group is a leading player in the Nordic market for long-term savings and insurance. We offer pension, savings, insurance and banking products to private individuals, businesses and public enterprises.

Storebrand’s ambition is to build a world-class savings group, supported by insurance. We offer a broad range of products within life insurance, property and casualty insurance, asset management and banking, to companies, public sector entities and private individuals. Storebrand has about 40.000 corporate customers and 2 million individual customers and is Norway's largest private asset manager. 

A two-fold strategy

Storebrand's core business is within life and pension insurance. This market has undergone significant changes in recent years. Low interest rates and changing regulatory conditions for long-term pension savings have led to a shift away from traditional pension plans with guaranteed annual interest rates (the "back book"), towards unit-linked based saving plans without guarantees (the "front book").  

Storebrand's aims to grow the front book by maintaining a market leading position within occupational pensions, leveraging on a unique position in the retail market through the relationships with active and former employees of corporate pensions plans and by continuing to build an asset manager with strong competitive advantages. Value creation from the growing front book shall contribute to increasing dividends over time. 

The back book, with guaranteed pensions, is in long-term decline and requires disciplined management of the balance sheet and capital. As the pensions are being paid out, capital that has been tied up to support the guarantees will be released. Storebrand has a framework for capital management that links dividends to the solvency ratio. The aim is to have a solvency ratio of more than 150 per cent at all times. 

To learn more about the strategy and business model, please see our comprehensive guide below: