<br />
Annual Report 2008<br />
<br />
Storebrand ASA<br />
Storebrand showed its support for the Norwegian Cancer Society and Norwegian Breast Cancer<br />
Association’s annual “Pink Ribbon Campaign” by lighting up its new head office in Lysaker in pink.<br />
Highlights 2008<br />
<br />
<br />
January<br />
New life insurance act comes into force.<br />
Building work starts on Storebrand’s new<br />
headquarters in Lysaker.<br />
Storebrand and the Norwegian Cancer<br />
Society sign a main partner agreement.<br />
<br />
February<br />
Children’s super insurance, which combines<br />
child insurance and treatment insurance, is<br />
launched.<br />
Storebrand P&C offers online eco-driving<br />
course.<br />
<br />
March<br />
Storebrand introduces new climate criteria<br />
f<a title="Annual Report 2008 page 1" href="http://viewer.zmags.com/publication/72f3d8ed?page=1">Annual Report 2008Storebrand ASA</a> Annual Report 2008Storebrand ASA<a title="Annual Report 2008 page 2" href="http://viewer.zmags.com/publication/72f3d8ed?page=2">Storebrand showed its support for the Norwegian C</a> Storebrand showed its support for the Norwegian C<a title="Annual Report 2008 page 3" href="http://viewer.zmags.com/publication/72f3d8ed?page=3">Storebrand assurance business,approx. 1921. Ph</a> Storebrand assurance business,approx. 1921. Ph<a title="Annual Report 2008 page 4" href="http://viewer.zmags.com/publication/72f3d8ed?page=4">StOREBRANd ASA Storebrand </a> StOREBRANd ASA Storebrand <a title="Annual Report 2008 page 5" href="http://viewer.zmags.com/publication/72f3d8ed?page=5">Storebrand Group5The Storebrand Group is mad</a> Storebrand Group5The Storebrand Group is mad<a title="Annual Report 2008 page 6" href="http://viewer.zmags.com/publication/72f3d8ed?page=6">Value creation in a time of crisisThe financia</a> Value creation in a time of crisisThe financia<a title="Annual Report 2008 page 7" href="http://viewer.zmags.com/publication/72f3d8ed?page=7">Vision: Core valu</a> Vision: Core valu<a title="Annual Report 2008 page 8" href="http://viewer.zmags.com/publication/72f3d8ed?page=8">Risk management ina demanding marketAt the</a> Risk management ina demanding marketAt the<a title="Annual Report 2008 page 9" href="http://viewer.zmags.com/publication/72f3d8ed?page=9">customers deposit for savings in a well-definedm</a> customers deposit for savings in a well-definedm<a title="Annual Report 2008 page 10" href="http://viewer.zmags.com/publication/72f3d8ed?page=10">Responsible investments– an important contributi</a> Responsible investments– an important contributi<a title="Annual Report 2008 page 11" href="http://viewer.zmags.com/publication/72f3d8ed?page=11">“…businesscannot succeedin a society thatfails</a> “…businesscannot succeedin a society thatfails<a title="Annual Report 2008 page 12" href="http://viewer.zmags.com/publication/72f3d8ed?page=12">Storebranddemands actionfrom JinhuiIn Novembe</a> Storebranddemands actionfrom JinhuiIn Novembe<a title="Annual Report 2008 page 13" href="http://viewer.zmags.com/publication/72f3d8ed?page=13">MicrofinanceMicrofinance is about making capital</a> MicrofinanceMicrofinance is about making capital<a title="Annual Report 2008 page 14" href="http://viewer.zmags.com/publication/72f3d8ed?page=14">Report of the Board of DirectorsMain feature</a> Report of the Board of DirectorsMain feature<a title="Annual Report 2008 page 15" href="http://viewer.zmags.com/publication/72f3d8ed?page=15">to apply IFRS to the holding company’s un-consol</a> to apply IFRS to the holding company’s un-consol<a title="Annual Report 2008 page 16" href="http://viewer.zmags.com/publication/72f3d8ed?page=16">The profits in 2008 were marked by extreme-ly vo</a> The profits in 2008 were marked by extreme-ly vo<a title="Annual Report 2008 page 17" href="http://viewer.zmags.com/publication/72f3d8ed?page=17">the revenues from the administration of thesecur</a> the revenues from the administration of thesecur<a title="Annual Report 2008 page 18" href="http://viewer.zmags.com/publication/72f3d8ed?page=18">Work has been done in 2008 on four sub-projects </a> Work has been done in 2008 on four sub-projects <a title="Annual Report 2008 page 19" href="http://viewer.zmags.com/publication/72f3d8ed?page=19">Total assets undermanagementNOK million250 </a> Total assets undermanagementNOK million250 <a title="Annual Report 2008 page 20" href="http://viewer.zmags.com/publication/72f3d8ed?page=20">Risk managementStorebrand has through the produc</a> Risk managementStorebrand has through the produc<a title="Annual Report 2008 page 21" href="http://viewer.zmags.com/publication/72f3d8ed?page=21">currency risks, use of derivatives and require-m</a> currency risks, use of derivatives and require-m<a title="Annual Report 2008 page 22" href="http://viewer.zmags.com/publication/72f3d8ed?page=22">The volume of non-performing and loss-exposed lo</a> The volume of non-performing and loss-exposed lo<a title="Annual Report 2008 page 23" href="http://viewer.zmags.com/publication/72f3d8ed?page=23">aims to have a net debt ratio of zero overthe lo</a> aims to have a net debt ratio of zero overthe lo<a title="Annual Report 2008 page 24" href="http://viewer.zmags.com/publication/72f3d8ed?page=24">the tenth year in a row, Storebrand has quali-fi</a> the tenth year in a row, Storebrand has quali-fi<a title="Annual Report 2008 page 25" href="http://viewer.zmags.com/publication/72f3d8ed?page=25">20 percent of the group’s executive manag-ers ar</a> 20 percent of the group’s executive manag-ers ar<a title="Annual Report 2008 page 26" href="http://viewer.zmags.com/publication/72f3d8ed?page=26">training during working hours for seniors, asubs</a> training during working hours for seniors, asubs<a title="Annual Report 2008 page 27" href="http://viewer.zmags.com/publication/72f3d8ed?page=27">connection with the acquisition of SPP havebeen </a> connection with the acquisition of SPP havebeen <a title="Annual Report 2008 page 28" href="http://viewer.zmags.com/publication/72f3d8ed?page=28">Shareholder MattersThe share capital, rights</a> Shareholder MattersThe share capital, rights<a title="Annual Report 2008 page 29" href="http://viewer.zmags.com/publication/72f3d8ed?page=29">Foreign ownershipAs of 31 December 2008, total f</a> Foreign ownershipAs of 31 December 2008, total f<a title="Annual Report 2008 page 30" href="http://viewer.zmags.com/publication/72f3d8ed?page=30">system to ensure that the guidelines arefollowed</a> system to ensure that the guidelines arefollowed<a title="Annual Report 2008 page 31" href="http://viewer.zmags.com/publication/72f3d8ed?page=31">Corporate governanceAs a large stock exchange </a> Corporate governanceAs a large stock exchange <a title="Annual Report 2008 page 32" href="http://viewer.zmags.com/publication/72f3d8ed?page=32">Shareholder matters(CoP sections 3,4 and 5)The </a> Shareholder matters(CoP sections 3,4 and 5)The <a title="Annual Report 2008 page 33" href="http://viewer.zmags.com/publication/72f3d8ed?page=33">is not a member of the Board. None of themembers</a> is not a member of the Board. None of themembers<a title="Annual Report 2008 page 34" href="http://viewer.zmags.com/publication/72f3d8ed?page=34">ble for the group’s overall profitability and for</a> ble for the group’s overall profitability and for<a title="Annual Report 2008 page 35" href="http://viewer.zmags.com/publication/72f3d8ed?page=35">Management through group-widepolicies and guidel</a> Management through group-widepolicies and guidel<a title="Annual Report 2008 page 36" href="http://viewer.zmags.com/publication/72f3d8ed?page=36">Storebrand’s ExecutiveManagement1. GuNNAr ro</a> Storebrand’s ExecutiveManagement1. GuNNAr ro<a title="Annual Report 2008 page 37" href="http://viewer.zmags.com/publication/72f3d8ed?page=37">Management report:Financial performance and busi</a> Management report:Financial performance and busi<a title="Annual Report 2008 page 38" href="http://viewer.zmags.com/publication/72f3d8ed?page=38">The group’s strategic developmentOur main strate</a> The group’s strategic developmentOur main strate<a title="Annual Report 2008 page 39" href="http://viewer.zmags.com/publication/72f3d8ed?page=39">direct product and is sold online and over thete</a> direct product and is sold online and over thete<a title="Annual Report 2008 page 40" href="http://viewer.zmags.com/publication/72f3d8ed?page=40">colleagues. All employees have undergonetraining</a> colleagues. All employees have undergonetraining<a title="Annual Report 2008 page 41" href="http://viewer.zmags.com/publication/72f3d8ed?page=41">Group profitNOK millionLife insuranceInvestmen</a> Group profitNOK millionLife insuranceInvestmen<a title="Annual Report 2008 page 42" href="http://viewer.zmags.com/publication/72f3d8ed?page=42">percent and thus exceeded the internaltarget. Me</a> percent and thus exceeded the internaltarget. Me<a title="Annual Report 2008 page 43" href="http://viewer.zmags.com/publication/72f3d8ed?page=43">The 2008 retail market was characterised bycance</a> The 2008 retail market was characterised bycance<a title="Annual Report 2008 page 44" href="http://viewer.zmags.com/publication/72f3d8ed?page=44">the need for private savings. The group’s ap-pro</a> the need for private savings. The group’s ap-pro<a title="Annual Report 2008 page 45" href="http://viewer.zmags.com/publication/72f3d8ed?page=45">specific premium for the guaranteed returnand it</a> specific premium for the guaranteed returnand it<a title="Annual Report 2008 page 46" href="http://viewer.zmags.com/publication/72f3d8ed?page=46">Profit allocated to the owner per product area as</a> Profit allocated to the owner per product area as<a title="Annual Report 2008 page 47" href="http://viewer.zmags.com/publication/72f3d8ed?page=47">NOK 170 million in Q4. The owner’s share ofthe m</a> NOK 170 million in Q4. The owner’s share ofthe m<a title="Annual Report 2008 page 48" href="http://viewer.zmags.com/publication/72f3d8ed?page=48">in the market for contractual early retirementpe</a> in the market for contractual early retirementpe<a title="Annual Report 2008 page 49" href="http://viewer.zmags.com/publication/72f3d8ed?page=49">Customer buffersConditional bonuses (the policyh</a> Customer buffersConditional bonuses (the policyh<a title="Annual Report 2008 page 50" href="http://viewer.zmags.com/publication/72f3d8ed?page=50">Embedded Value of Storebrand Group </a> Embedded Value of Storebrand Group <a title="Annual Report 2008 page 51" href="http://viewer.zmags.com/publication/72f3d8ed?page=51">Sensitivities for Storebrand Life Group: The sensi</a> Sensitivities for Storebrand Life Group: The sensi<a title="Annual Report 2008 page 52" href="http://viewer.zmags.com/publication/72f3d8ed?page=52">Attractive productsStorebrand Investments manage</a> Attractive productsStorebrand Investments manage<a title="Annual Report 2008 page 53" href="http://viewer.zmags.com/publication/72f3d8ed?page=53">Eiendom, which from 2008 reports as partof the a</a> Eiendom, which from 2008 reports as partof the a<a title="Annual Report 2008 page 54" href="http://viewer.zmags.com/publication/72f3d8ed?page=54">Storebrand Life Insurance. The return on thispor</a> Storebrand Life Insurance. The return on thispor<a title="Annual Report 2008 page 55" href="http://viewer.zmags.com/publication/72f3d8ed?page=55">operating expenses amounted to NOK 382million in</a> operating expenses amounted to NOK 382million in<a title="Annual Report 2008 page 56" href="http://viewer.zmags.com/publication/72f3d8ed?page=56">Storebrand ASA’s operating expenses wereNOK 111 </a> Storebrand ASA’s operating expenses wereNOK 111 <a title="Annual Report 2008 page 57" href="http://viewer.zmags.com/publication/72f3d8ed?page=57">Re, the other activities of Storebrand Skade-for</a> Re, the other activities of Storebrand Skade-for<a title="Annual Report 2008 page 58" href="http://viewer.zmags.com/publication/72f3d8ed?page=58">folio, the Norwegian authorities specify thatthe</a> folio, the Norwegian authorities specify thatthe<a title="Annual Report 2008 page 59" href="http://viewer.zmags.com/publication/72f3d8ed?page=59">The company pays great attention to carefullyeva</a> The company pays great attention to carefullyeva<a title="Annual Report 2008 page 60" href="http://viewer.zmags.com/publication/72f3d8ed?page=60">Storebrand Bank has established goodliquidity bu</a> Storebrand Bank has established goodliquidity bu<a title="Annual Report 2008 page 61" href="http://viewer.zmags.com/publication/72f3d8ed?page=61">Annual Report 2008 61</a> Annual Report 2008 61<a title="Annual Report 2008 page 62" href="http://viewer.zmags.com/publication/72f3d8ed?page=62">Members of Storebrand’scorporate bodies</a> Members of Storebrand’scorporate bodies<a title="Annual Report 2008 page 63" href="http://viewer.zmags.com/publication/72f3d8ed?page=63">Contents – Accounts and Notes to the accounts Stor</a> Contents – Accounts and Notes to the accounts Stor<a title="Annual Report 2008 page 64" href="http://viewer.zmags.com/publication/72f3d8ed?page=64">Profit and Loss Account Storebrand Group1 Januar</a> Profit and Loss Account Storebrand Group1 Januar<a title="Annual Report 2008 page 65" href="http://viewer.zmags.com/publication/72f3d8ed?page=65">Profit and Loss Account Storebrand Group1 Januar</a> Profit and Loss Account Storebrand Group1 Januar<a title="Annual Report 2008 page 66" href="http://viewer.zmags.com/publication/72f3d8ed?page=66">Balance Sheet Storebrand Group31 DecemberNOK m</a> Balance Sheet Storebrand Group31 DecemberNOK m<a title="Annual Report 2008 page 67" href="http://viewer.zmags.com/publication/72f3d8ed?page=67">Balanse Sheet Storebrand Group31 DecemberNOK </a> Balanse Sheet Storebrand Group31 DecemberNOK <a title="Annual Report 2008 page 68" href="http://viewer.zmags.com/publication/72f3d8ed?page=68">Cash flow analysis Storebrand Group1 January - 3</a> Cash flow analysis Storebrand Group1 January - 3<a title="Annual Report 2008 page 69" href="http://viewer.zmags.com/publication/72f3d8ed?page=69">Notes Storebrand Group01 Accounting polici</a> Notes Storebrand Group01 Accounting polici<a title="Annual Report 2008 page 70" href="http://viewer.zmags.com/publication/72f3d8ed?page=70">Notes Storebrand GroupIf an investment property </a> Notes Storebrand GroupIf an investment property <a title="Annual Report 2008 page 71" href="http://viewer.zmags.com/publication/72f3d8ed?page=71">where available, reference to the current fair va</a> where available, reference to the current fair va<a title="Annual Report 2008 page 72" href="http://viewer.zmags.com/publication/72f3d8ed?page=72">Notes Storebrand Groupdirectly against equity, w</a> Notes Storebrand Groupdirectly against equity, w<a title="Annual Report 2008 page 73" href="http://viewer.zmags.com/publication/72f3d8ed?page=73">conditional allocation to policyholders that is r</a> conditional allocation to policyholders that is r<a title="Annual Report 2008 page 74" href="http://viewer.zmags.com/publication/72f3d8ed?page=74">Notes Storebrand Group02 Important accounting </a> Notes Storebrand Group02 Important accounting <a title="Annual Report 2008 page 75" href="http://viewer.zmags.com/publication/72f3d8ed?page=75">03 New layouts for the profit and loss account </a> 03 New layouts for the profit and loss account <a title="Annual Report 2008 page 76" href="http://viewer.zmags.com/publication/72f3d8ed?page=76">Notes Storebrand GroupMarket value adjustment re</a> Notes Storebrand GroupMarket value adjustment re<a title="Annual Report 2008 page 77" href="http://viewer.zmags.com/publication/72f3d8ed?page=77">Acquisition of other companiesRing Eiendomsmegli</a> Acquisition of other companiesRing Eiendomsmegli<a title="Annual Report 2008 page 78" href="http://viewer.zmags.com/publication/72f3d8ed?page=78">Notes Storebrand GroupStorebrand Life Insurance’</a> Notes Storebrand GroupStorebrand Life Insurance’<a title="Annual Report 2008 page 79" href="http://viewer.zmags.com/publication/72f3d8ed?page=79">Liquidity riskLiquidity risk is the risk that th</a> Liquidity riskLiquidity risk is the risk that th<a title="Annual Report 2008 page 80" href="http://viewer.zmags.com/publication/72f3d8ed?page=80">Notes Storebrand GroupProducts with profit shari</a> Notes Storebrand GroupProducts with profit shari<a title="Annual Report 2008 page 81" href="http://viewer.zmags.com/publication/72f3d8ed?page=81">09 Other incomeNOK millionFee and commission</a> 09 Other incomeNOK millionFee and commission<a title="Annual Report 2008 page 82" href="http://viewer.zmags.com/publication/72f3d8ed?page=82">Notes Storebrand Group12 TaxTax charge to pr</a> Notes Storebrand Group12 TaxTax charge to pr<a title="Annual Report 2008 page 83" href="http://viewer.zmags.com/publication/72f3d8ed?page=83">13 Intangible assets and goodwill </a> 13 Intangible assets and goodwill <a title="Annual Report 2008 page 84" href="http://viewer.zmags.com/publication/72f3d8ed?page=84">Notes Storebrand Group </a> Notes Storebrand Group <a title="Annual Report 2008 page 85" href="http://viewer.zmags.com/publication/72f3d8ed?page=85">For each class of fixed assets:Depreciation meth</a> For each class of fixed assets:Depreciation meth<a title="Annual Report 2008 page 86" href="http://viewer.zmags.com/publication/72f3d8ed?page=86">Notes Storebrand GroupBooked in the balance shee</a> Notes Storebrand GroupBooked in the balance shee<a title="Annual Report 2008 page 87" href="http://viewer.zmags.com/publication/72f3d8ed?page=87">Net pension cost booked to profit and loss accoun</a> Net pension cost booked to profit and loss accoun<a title="Annual Report 2008 page 88" href="http://viewer.zmags.com/publication/72f3d8ed?page=88">Notes Storebrand Group17 Remuneration of senio</a> Notes Storebrand Group17 Remuneration of senio<a title="Annual Report 2008 page 89" href="http://viewer.zmags.com/publication/72f3d8ed?page=89"> </a> <a title="Annual Report 2008 page 90" href="http://viewer.zmags.com/publication/72f3d8ed?page=90">Notes Storebrand GroupThe senior employee remune</a> Notes Storebrand GroupThe senior employee remune<a title="Annual Report 2008 page 91" href="http://viewer.zmags.com/publication/72f3d8ed?page=91">Ownership interests in associated companies </a> Ownership interests in associated companies <a title="Annual Report 2008 page 92" href="http://viewer.zmags.com/publication/72f3d8ed?page=92">Notes Storebrand Group21 Biological assetsNO</a> Notes Storebrand Group21 Biological assetsNO<a title="Annual Report 2008 page 93" href="http://viewer.zmags.com/publication/72f3d8ed?page=93">24 Contingent liabilities and conditional asset</a> 24 Contingent liabilities and conditional asset<a title="Annual Report 2008 page 94" href="http://viewer.zmags.com/publication/72f3d8ed?page=94">Notes Storebrand GroupComputation of fair value </a> Notes Storebrand GroupComputation of fair value <a title="Annual Report 2008 page 95" href="http://viewer.zmags.com/publication/72f3d8ed?page=95">Minimum requirement primary capitalNOK million</a> Minimum requirement primary capitalNOK million<a title="Annual Report 2008 page 96" href="http://viewer.zmags.com/publication/72f3d8ed?page=96">Notes Storebrand Group28 Net income analysed </a> Notes Storebrand Group28 Net income analysed <a title="Annual Report 2008 page 97" href="http://viewer.zmags.com/publication/72f3d8ed?page=97">29 Lending losses/write-back of earlier losses</a> 29 Lending losses/write-back of earlier losses<a title="Annual Report 2008 page 98" href="http://viewer.zmags.com/publication/72f3d8ed?page=98">Notes Storebrand Group31 Fair value of financi</a> Notes Storebrand Group31 Fair value of financi<a title="Annual Report 2008 page 99" href="http://viewer.zmags.com/publication/72f3d8ed?page=99">Lending to customers </a> Lending to customers <a title="Annual Report 2008 page 100" href="http://viewer.zmags.com/publication/72f3d8ed?page=100">Notes Storebrand Group33 Cash collateralColl</a> Notes Storebrand Group33 Cash collateralColl<a title="Annual Report 2008 page 101" href="http://viewer.zmags.com/publication/72f3d8ed?page=101">35 Securities lendingStock lendingNOK millio</a> 35 Securities lendingStock lendingNOK millio<a title="Annual Report 2008 page 102" href="http://viewer.zmags.com/publication/72f3d8ed?page=102">Notes Storebrand Group36 Hedge accountingSto</a> Notes Storebrand Group36 Hedge accountingSto<a title="Annual Report 2008 page 103" href="http://viewer.zmags.com/publication/72f3d8ed?page=103">37 Bonds at amortised costNOK millionBond</a> 37 Bonds at amortised costNOK millionBond<a title="Annual Report 2008 page 104" href="http://viewer.zmags.com/publication/72f3d8ed?page=104">Notes Storebrand Group40 Bonds and other fixed</a> Notes Storebrand Group40 Bonds and other fixed<a title="Annual Report 2008 page 105" href="http://viewer.zmags.com/publication/72f3d8ed?page=105">41 DerivativesNominal volumeFinancial deriva</a> 41 DerivativesNominal volumeFinancial deriva<a title="Annual Report 2008 page 106" href="http://viewer.zmags.com/publication/72f3d8ed?page=106">Notes Storebrand GroupSpecification of subordina</a> Notes Storebrand GroupSpecification of subordina<a title="Annual Report 2008 page 107" href="http://viewer.zmags.com/publication/72f3d8ed?page=107">Securities issued </a> Securities issued <a title="Annual Report 2008 page 108" href="http://viewer.zmags.com/publication/72f3d8ed?page=108">Notes Storebrand Group43 Credit riskAnalysis</a> Notes Storebrand Group43 Credit riskAnalysis<a title="Annual Report 2008 page 109" href="http://viewer.zmags.com/publication/72f3d8ed?page=109">Bank deposits and loans to financial institutions</a> Bank deposits and loans to financial institutions<a title="Annual Report 2008 page 110" href="http://viewer.zmags.com/publication/72f3d8ed?page=110">Notes Storebrand GroupCommitments distributed by</a> Notes Storebrand GroupCommitments distributed by<a title="Annual Report 2008 page 111" href="http://viewer.zmags.com/publication/72f3d8ed?page=111">Commitments overdue by more than 90 days distribu</a> Commitments overdue by more than 90 days distribu<a title="Annual Report 2008 page 112" href="http://viewer.zmags.com/publication/72f3d8ed?page=112">Notes Storebrand Group45 Currency exposure </a> Notes Storebrand Group45 Currency exposure <a title="Annual Report 2008 page 113" href="http://viewer.zmags.com/publication/72f3d8ed?page=113">46 Sensitivity analysesFor changes in market </a> 46 Sensitivity analysesFor changes in market <a title="Annual Report 2008 page 114" href="http://viewer.zmags.com/publication/72f3d8ed?page=114">Notes Storebrand Group47 Storebrand Group – Re</a> Notes Storebrand Group47 Storebrand Group – Re<a title="Annual Report 2008 page 115" href="http://viewer.zmags.com/publication/72f3d8ed?page=115">The equity changes with the result for the indivi</a> The equity changes with the result for the indivi<a title="Annual Report 2008 page 116" href="http://viewer.zmags.com/publication/72f3d8ed?page=116">Notes Storebrand GroupChanges in insurance liabi</a> Notes Storebrand GroupChanges in insurance liabi<a title="Annual Report 2008 page 117" href="http://viewer.zmags.com/publication/72f3d8ed?page=117">Specification of claims at own expense </a> Specification of claims at own expense <a title="Annual Report 2008 page 118" href="http://viewer.zmags.com/publication/72f3d8ed?page=118">Notes Storebrand GroupIn the event of any possib</a> Notes Storebrand GroupIn the event of any possib<a title="Annual Report 2008 page 119" href="http://viewer.zmags.com/publication/72f3d8ed?page=119">Risk resultThe risk result is divided up into su</a> Risk resultThe risk result is divided up into su<a title="Annual Report 2008 page 120" href="http://viewer.zmags.com/publication/72f3d8ed?page=120">Notes Storebrand GroupRisk exposure/sensitivity</a> Notes Storebrand GroupRisk exposure/sensitivity<a title="Annual Report 2008 page 121" href="http://viewer.zmags.com/publication/72f3d8ed?page=121">Average interest rate guaranteeIndividual endowm</a> Average interest rate guaranteeIndividual endowm<a title="Annual Report 2008 page 122" href="http://viewer.zmags.com/publication/72f3d8ed?page=122">Notes Storebrand GroupSPPThe company’s risk wit</a> Notes Storebrand GroupSPPThe company’s risk wit<a title="Annual Report 2008 page 123" href="http://viewer.zmags.com/publication/72f3d8ed?page=123">Property and casualty insurance Specification </a> Property and casualty insurance Specification <a title="Annual Report 2008 page 124" href="http://viewer.zmags.com/publication/72f3d8ed?page=124">Notes Storebrand GroupTechnical insurance result</a> Notes Storebrand GroupTechnical insurance result<a title="Annual Report 2008 page 125" href="http://viewer.zmags.com/publication/72f3d8ed?page=125">Risk exposure and insurance risk – Oslo Reinsuran</a> Risk exposure and insurance risk – Oslo Reinsuran<a title="Annual Report 2008 page 126" href="http://viewer.zmags.com/publication/72f3d8ed?page=126">Profit and Loss Account Storebrand ASA1 January </a> Profit and Loss Account Storebrand ASA1 January <a title="Annual Report 2008 page 127" href="http://viewer.zmags.com/publication/72f3d8ed?page=127">Balance Sheet 31 December Storebrand ASA31 Decem</a> Balance Sheet 31 December Storebrand ASA31 Decem<a title="Annual Report 2008 page 128" href="http://viewer.zmags.com/publication/72f3d8ed?page=128">Cash flow analysis Storebrand ASA1 January - 31 </a> Cash flow analysis Storebrand ASA1 January - 31 <a title="Annual Report 2008 page 129" href="http://viewer.zmags.com/publication/72f3d8ed?page=129">Notes to the accounts of Storebrand ASA01 </a> Notes to the accounts of Storebrand ASA01 <a title="Annual Report 2008 page 130" href="http://viewer.zmags.com/publication/72f3d8ed?page=130">Notes Storebrand ASA02 Income from investments</a> Notes Storebrand ASA02 Income from investments<a title="Annual Report 2008 page 131" href="http://viewer.zmags.com/publication/72f3d8ed?page=131">Reconciliation to show the change in fair value o</a> Reconciliation to show the change in fair value o<a title="Annual Report 2008 page 132" href="http://viewer.zmags.com/publication/72f3d8ed?page=132">Notes Storebrand ASA05 Remuneration of the CEO</a> Notes Storebrand ASA05 Remuneration of the CEO<a title="Annual Report 2008 page 133" href="http://viewer.zmags.com/publication/72f3d8ed?page=133">The bonus systemThe Storebrand group’s bonus sch</a> The bonus systemThe Storebrand group’s bonus sch<a title="Annual Report 2008 page 134" href="http://viewer.zmags.com/publication/72f3d8ed?page=134">Notes Storebrand ASAReconciliation of tax charge</a> Notes Storebrand ASAReconciliation of tax charge<a title="Annual Report 2008 page 135" href="http://viewer.zmags.com/publication/72f3d8ed?page=135">10 Derivatives </a> 10 Derivatives <a title="Annual Report 2008 page 136" href="http://viewer.zmags.com/publication/72f3d8ed?page=136">Notes Storebrand ASA12 Real estate and tangibl</a> Notes Storebrand ASA12 Real estate and tangibl<a title="Annual Report 2008 page 137" href="http://viewer.zmags.com/publication/72f3d8ed?page=137">15 Shareholders20 largest shareholdersHoldin</a> 15 Shareholders20 largest shareholdersHoldin<a title="Annual Report 2008 page 138" href="http://viewer.zmags.com/publication/72f3d8ed?page=138">Notes Storebrand ASA16 Holdings of shares in S</a> Notes Storebrand ASA16 Holdings of shares in S<a title="Annual Report 2008 page 139" href="http://viewer.zmags.com/publication/72f3d8ed?page=139">Transactions between group companiesNOK million</a> Transactions between group companiesNOK million<a title="Annual Report 2008 page 140" href="http://viewer.zmags.com/publication/72f3d8ed?page=140">Storebrand ASA and the Storebrand Group– Declara</a> Storebrand ASA and the Storebrand Group– Declara<a title="Annual Report 2008 page 141" href="http://viewer.zmags.com/publication/72f3d8ed?page=141">Auditor’s report for 2008To the Annual Sha</a> Auditor’s report for 2008To the Annual Sha<a title="Annual Report 2008 page 142" href="http://viewer.zmags.com/publication/72f3d8ed?page=142">Status of action plan for corporate responsibility</a> Status of action plan for corporate responsibility<a title="Annual Report 2008 page 143" href="http://viewer.zmags.com/publication/72f3d8ed?page=143">We measure our performance by </a> We measure our performance by <a title="Annual Report 2008 page 144" href="http://viewer.zmags.com/publication/72f3d8ed?page=144">Auditor’s report on status of action plan forcor</a> Auditor’s report on status of action plan forcor<a title="Annual Report 2008 page 145" href="http://viewer.zmags.com/publication/72f3d8ed?page=145">Reg. org. no. Interest</a> Reg. org. no. Interest<a title="Annual Report 2008 page 146" href="http://viewer.zmags.com/publication/72f3d8ed?page=146">GeneralDurationThe average remaining t</a> GeneralDurationThe average remaining t<a title="Annual Report 2008 page 147" href="http://viewer.zmags.com/publication/72f3d8ed?page=147">Investment resultThe result arising from financi</a> Investment resultThe result arising from financi<a title="Annual Report 2008 page 148" href="http://viewer.zmags.com/publication/72f3d8ed?page=148">Terms and expressionsLevel repayment loanPeriod</a> Terms and expressionsLevel repayment loanPeriod<a title="Annual Report 2008 page 149" href="http://viewer.zmags.com/publication/72f3d8ed?page=149">Branch offices in Norway(insurance agents)Troms</a> Branch offices in Norway(insurance agents)Troms<a title="Annual Report 2008 page 150" href="http://viewer.zmags.com/publication/72f3d8ed?page=150">Concept,designandproduction:signatur.no </a> Concept,designandproduction:signatur.no