Q2 beat drives Storebrand shares higher

Gjensidige Forsikring ASA

11/07/2025 09:10

** Shares in Storebrand STB.OL rise more than 3% after the Norwegian financial group posted its second quarter results, above consensus estimates

** It reported a Q2 net income of NOK 1,427 million  ($141.28 million), beating the estimated NOK 948 million

** J.P.Morgan highlights Storebrand's Insurance division with better top-line growth and a stronger-than-expected combined ratio of 91%

** "We expect upgrades in this division in particular, and expect the shares to outperform today on the back of these results," JPM says

** In a separate statement, Storebrand said it decided to continue its share buyback program with a tranche of up to NOK 750 million

** If gains hold, Storebrand shares track their best day since October 2024

** Shares of peer Gjensidige GJFG.OL, which also delivered a better-than-expected set of Q2 results, are up 5%

($1 = 10.1002 Norwegian crowns)

 (Reporting by Elviira Luoma)

 ((Elviira.luoma@thomsonreuters.com))