Storebrand combined ratio improves to 91% for Q2 2025

(The Insurer) - Storebrand has reported a 6 percentage point year-on-year improvement in its combined ratio to 91% for the second quarter of 2025, the company announced on Friday.

This improvement was the result of several measures including repricing across segments, Storebrand said.

It noted uncertainty regarding disability development in Norwegian society, but maintained its 90% to 92% combined ratio guidance for the full year 2025.

Insurance premiums were 2.41 billion Norwegian krone ($240 million) in the second quarter of 2025, a 23 percent increase on the prior-year period.

Corporate insurance reported a combined ratio of 93% for the second quarter, the same as the prior-year period.

Premiums in the corporate insurance segment increased by 19% year-on-year. Storebrand said continued adverse disability development in Norway resulted in signficant price increases.

Storebrand reported cash equivalent earnings before amortisation of 107 million krone for its corporate insurance divison in the second quarter, up on the 85 million krone figure from the prior year period.

Retail insurance posted 27% year-on-year premium growth in the second quarter, attributed to significant price increases and continued volume growth.