Who are Storebrand's main competitors?

Named competitors: DNB Bank/DNB Livsforsikring (DNB.OL), Gjensidige (GJF.OL), Nordea (private or unlisted). The cockpit's measured peer set (industry) also includes Sparebank 1 Sor-norge (SB1NO.OL), TFS Financial (TFSL), WSFS Financial (WSFS), SpareBank 1 SMN (MING.OL), Sparebank 1 Ostlandet (SPOL.OL), Columbia Financial (CLBK).

Is Storebrand expensive compared with its peers?

On price / book it trades at 2.56× against a peer median of 1.09×, 2nd most expensive of 8 in its peer set. The share price implies a return on equity of about 16.1%; Storebrand delivers 13.9%, so the price asks more than the business earns today.

How has Storebrand stock performed?

Over six months to 6 Nov 2026 the shares returned +13.4% against +10.1% for the median peer; over one year +25.7%.

← CockpitCompetitor Analysis › STB.OL Storebrand ASAOpen in the cockpit ↗

Storebrand ASASTB.OLCompetitor analysis, valuation and peers

Norway · NOK·Financials›Savings Banks

Norwegian pension, life insurance and asset-management group, also owning Sweden's SPP pension business and the Skagen funds.

≈ A Norwegian Prudential/Principal FinancialMomentum strong 72

Competitor Analysis ▸ Charts Open in the cockpit Bonds & Credit

Mkt cap

$8.94B

US dollars, full cap

Free float

95%

of shares outstanding

$/day

$13.3M

20-day average traded

P/B

2.56×

price to book

ROE

13.9%

delivered

Implied ROE

16.1%

what the price asks

Official | Implied

BBB+ / —

agencies · bond market

Next earnings

96 days

10 Feb 2027

Close · NOKNOK 200.00

1D-1.3%

1W+3.2%

1M+8.5%

3M-1.8%

6M+13.4%

YTD+15.8%

1Y+25.7%

ATR %1.7%

52w lowhigh3.9% off high

What Storebrand does

Norwegian pension, life insurance and asset-management group, also owning Sweden's SPP pension business and the Skagen funds.

Earns fees on pension and savings assets it manages for employers and individuals, premiums on health and risk cover, and investment return on older guaranteed pension books. It has been moving customers from guaranteed pensions, which tie up capital, to unit-linked ones where customers carry market risk. It owns Sweden's SPP pension business.

In one line: A Norwegian Prudential/Principal Financial.

Products and services

Defined-contribution occupational pensions (Norway and Swede
Guaranteed pension and life insurance
Asset management (Storebrand and Skagen)
Health, risk and P&C insurance
Retail banking

Customers

Corporate pension clients
Retail savers/policyholders

Where it sits in the supply chain

Financials
Insurance & asset management
Pensions, life insurance, asset…

What could go right

Norwegian pension AUM growth
Asset management fee income

What could go wrong

Equity market sensitivity (AUM-based fees)
Low interest rate margin pressure

Moat: narrow (scale, distribution, brand). Large Norwegian private pension and savings provider with established distribution and an asset-management platform.

Headquarters: Lysaker, Norway · Founded: 1767 · Employees: 2,541

Named competitors

DNB Bank/DNB Livsforsikring DNB.OL
Gjensidige GJF.OL
Nordea private or unlisted

Storebrand at a glance

Size Storebrand (STB.OL) is a Norway Financials company (Savings Banks) with a market value of $8.94B, the 14th largest of 115 Norway companies the cockpit tracks. Shares closed at NOK 200.00 on 6 Nov 2026.

Performance Over six months the shares gained 13.4%, against +10.1% for the median peer and +2.7% for the Norway market (cap-weighted) — 4th highest of 8 in its peer set.

Growth Revenue grew 40.2% over the last twelve months (peer median +1.8%); the operating margin is 8.2% (peer median 47.4%).

Valuation It trades at 2.56× book value against a peer median of 1.09× (2nd most expensive of 8).

Price implies The share price implies a return on equity of about 16.1%; Storebrand delivers 13.9%, so the price asks more than the business earns today.

Credit Storebrand has 1 bond outstanding ($334M), rated BBB+ by the agencies.

Next results Next results expected around 10 Feb 2027 (exchange calendar; dates can move).

Relative performance

Six months, rebased to 100: Storebrand against the median of its 7 peers (local-currency closes).

Storebrand financials

Reported figures in NOK; fiscal year ends 2025-12-31. TTM = trailing twelve months.
	TTM	FY2025	FY2024	FY2023	FY2022
Revenue	NOK 123B	NOK 55.7B	NOK 47.7B	NOK 35.3B	NOK 41.5B
Revenue growth	—	+17%	+35%	-15%	—
Net income	NOK 4.46B	NOK 5.02B	NOK 5.49B	NOK 3.35B	NOK 2.36B
Free cash flow	-NOK 779M	NOK 1.65B	-NOK 2.19B	-NOK 3.60B	NOK 1.52B
Capital expenditure	NOK 184M	NOK 123M	NOK 1.69B	NOK 127M	NOK 137M
Total debt	NOK 62.5B	NOK 63.8B	NOK 55.1B	NOK 54.0B	NOK 45.2B

Quarterly statements and history in the cockpit →

Storebrand competitor charts

The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.

Performance: 6-month against 1-month return

Up and to the right = strong over both horizons. Storebrand is the large dot.

Fundamentals: return on equity against price-to-book

A bank or insurer earning more on its equity usually trades at a higher multiple of book; points far above the trend are priced for more. Storebrand is the large dot.

Capital: ROE delivered against the ROE the price implies

Above the diagonal = the price asks for a higher return on equity than the business earns today. Storebrand is the large dot.

Storebrand competitors and peer comparison

Head to head with its named competitors (STB.OL vs DNB.OL vs GJF.OL)
Company	Market cap	6M return	Revenue growth	ROE	Price / book	Implied ROE
Storebrand STB.OL	$8.94B	+13%	+40%	14%	2.56×	16.1%
DNB Bank DNB.OL	$50.0B	+16%	-8%	15%	1.76×	11.2%
Gjensidige Forsikring GJF.OL	$14.7B	+9%	+7%	30%	5.73×	19.1%

How Storebrand compares with its peers

Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.

Storebrand against its 7 peers (data as of 6 Nov 2026)
Measure	STB.OL	Peer median	Rank in peer set
1-month return	+8.5%	+4.1%	highest of 8
6-month return	+13.4%	+10.1%	4th highest of 8
Return on equity	13.9%	9.1%	highest of 8
Price / book	2.56×	1.09×	2nd most expensive of 8
Trailing P/E	18.9×	12.4×	3rd most expensive of 8
ROE the price implies	16.1%	9.2%	2nd most demanding of 8
ROE delivered	13.9%	9.1%	highest of 8

Peer table

Peer set: Industry: the same industry and sector in any market, nearest in size
Company	Market	Market cap	6M return	Revenue growth	ROE	Price / book	Implied ROE	Delivered ROE
Storebrand STB.OL	Norway	$8.94B	+13%	+40%	14%	2.56×	16.1%	13.9%
Sparebank 1 Sor-norge SB1NO.OL	Norway	$9.31B	+24%	-5%	13%	1.69×	12.4%	12.5%
TFS Financial TFSL	United States	$4.61B	+9%	+6%	5%	2.72×	18.1%	5.1%
WSFS Financial WSFS	United States	$3.99B	+10%	+2%	12%	1.53×	12.4%	12.4%
SpareBank 1 SMN MING.OL	Norway	$3.38B	+16%	-6%	9%	1.08×	7.0%	8.8%
Sparebank 1 Ostlandet SPOL.OL	Norway	$3.01B	+9%	-2%	9%	1.09×	7.1%	9.1%
Columbia Financial CLBK	United States	$2.99B	+25%	+23%	2%	0.95×	6.2%	2.3%
Provident Financial Services PFS	United States	$2.99B	+2%	+4%	11%	1.05×	9.2%	11.0%

Storebrand bonds and credit

Storebrand has 1 bond outstanding with $334M face value. The agencies rate it BBB+.

Every bond, yield and spread in the cockpit →

Questions

Who are Storebrand's main competitors?: Named competitors: DNB Bank/DNB Livsforsikring (DNB.OL), Gjensidige (GJF.OL), Nordea (private or unlisted). The cockpit's measured peer set (industry) also includes Sparebank 1 Sor-norge (SB1NO.OL), TFS Financial (TFSL), WSFS Financial (WSFS), SpareBank 1 SMN (MING.OL), Sparebank 1 Ostlandet (SPOL.OL), Columbia Financial (CLBK).
Is Storebrand expensive compared with its peers?: On price / book it trades at 2.56× against a peer median of 1.09×, 2nd most expensive of 8 in its peer set. The share price implies a return on equity of about 16.1%; Storebrand delivers 13.9%, so the price asks more than the business earns today.
How has Storebrand stock performed?: Over six months to 6 Nov 2026 the shares returned +13.4% against +10.1% for the median peer; over one year +25.7%.