European Insurance News & Views: Storebrand read-across/UBS Nordic Financials Conference

Research evidence excerpt

European Insurance News & Views: Storebrand read-across/UBS Nordic Financials Conference

Global Research

15 July 2026ab

European Insurance News & Views Equities

Europe including UKStorebrand read-across/UBS Nordic Financials

Conference Financial

Qian Lu

Analyst

qian-za.lu@ubs.com

Headline: Storebrand read-across/UBS Nordic Financials Conference +44-20-7567 4657

Will Hardcastle, CFA

Storebrand (not covered) reported 2Q26 results today. We summarise key takeaways for Analyst

Norwegian P&C players below. We would also highlight that Storebrand CFO Kjetil R. will.hardcastle@ubs.com

Krøkje and Gjensidige CFO Jostein Amdal will join our Nordic Financials +44-20-7567 9763

Conference in Stockholm on 3 September, following the 2Q26 results. Please register Nasib Ahmed, FIA

here for the conference. Analyst

nasib-za.ahmed@ubs.com

+44-20-7568 8231UBS Summary:

Chloe Ryan

Associate Analyst

Storebrand: P&C combined ratio improved to 87% from 91% YoY in 2Q26 with Retail

chloe.ryan@ubs.com

P&C premiums up 22% YoY and market share increasing to 8.1% (20bps gain in one +44-20-7567 3505

quarter), marking the group's 30th consecutive quarter of market share gains in Retail

P&C. Management highlighted that more than two-thirds of premium growth was

driven by new business volumes and the rest by pricing, underlining continued

commercial momentum and distribution strength. While the quarter benefited from

favourable weather conditions and some reserve releases in retail P&C, management

said these gains were largely offset by reserve strengthening in the corporate disability

portfolio. Although disability claims remain elevated versus pre-COVID levels, the

company noted some encouraging signs in recent data, with new long-term sickness