-Storebrand Liv's embedded value rises to NOK30.6bn in 2010.
NORDIC BUSINESS REPORT-March 9, 2011--Storebrand Liv's embedded value rises to NOK30.6bn in 2010(C)2011 M2 COMMUNICATIONS http://www.m2.com
9 March 2011 - Norwegian insurer Storebrand ASA (OSL: STB) said today that its life insurance unit Storebrand Liv had an embedded value of NOK30.6bn at year-end 2010, up from NOK28.5bn a year earlier.
The return on embedded value in 2010 was 11%, Storebrand said in presentation materials, released ahead of its investor day today.
The result was attributed to operational improvements and good investment performance.
The value of new business doubled to NOK841m in 2010. The Swedish operations almost tripled the value of new sales in 2010 compared with a year earlier.
Fund-based products accounted for 40% of the total value at the end of 2010, up from 34% a year earlier.
(EUR1 = NOK7.8)
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