Storebrand reported a robust Q4 earnings beat, exceeding expectations by 15.5% in cash equivalent earnings from operations, driven primarily by its savings business and a significant surge in insurance profits. The Norwegian insurer's cash equivalent earnings from operations for the fourth quarter of 2025 surpassed consensus estimates by 15.5%, while profit before tax and after tax also beat forecasts. Growth was led by the savings segment, where earnings surpassed estimates by 13.6% due to strong asset accumulation and higher fee income.

Fee income for the quarter was 8.1% above expectations. The insurance segment contributed strongly, with results beating estimates by 11.3% as price increases boosted profitability, reflected in a one-percentage-point improvement in the combined ratio. NOK 2 billion was allocated for a share buyback program in 2026, exceeding Visible Alpha's consensus estimate. However, the pension segment underperformed, missing expectations by 23.3%, while other business areas exceeded forecasts by 78.9%.

The company's Solvency II ratio stood at 194%, one point below expectations, and its dividend of NOK 5.40 per share aligned with estimates. Adjusted cash earnings per share for the quarter beat forecasts by 10.8%. Operational expenses rose 4.1% above forecasts, while financial items and the risk result missed expectations by 6.8%.

For the full year 2025, cash equivalent earnings from operations exceeded expectations by 4.2%, and adjusted cash earnings per share beat forecasts by 4.7%.