Storebrand Asa Unsp/Adr

Good morning, ladies and gentlemen, and welcome to Storbrand's third quarter result presentation. As usual, our CEO, Odariel Grefstad, will present the key highlights of the quarter, followed by CFO Lars Ladesøl, who will dive deeper into the numbers. At the end of the presentation, participants in the team's webinar will have a chance to ask questions. Details on how to join the webinar are found on the Investor Relations website. But without further ado, I give the word to our CEO, Odaril Grefstad.

Thank you, Johannes, and good morning, everyone. Let me give an overview of the third quarter's highlights. Store brands' group cash-based earnings amounted to 1,507 million in the quarter. The operating result was 944 million, up by 36% year on year. The record strong operating result was driven by continued double digit growth and strong cost control. The financial result of 563 million was made up of profit sharing from both Sweden and Norway and solid returns from the company portfolios. We have continued to execute on the annual 1.5 billion buyback program, and we expect to complete this within year end. The strong results reflect that we execute on Storbrand's strategy to take three commercial positions in the market we operate in. A, to be the leading provider of occupational pension in both Norway and Sweden. B, to be a Nordic powerhouse in asset management. And C, to be a fast-growing challenger in the Norwegian retail market for financial services. These positions are strengthened by our strategic neighbours, people, sustainability and digital frontrunner, together unlocking additional growth. I am very happy to say again that we deliver double digit growth across the entire business. This stems from both structural growth, supportive markets and growing market shares in several segments. Now, let me go into further details on our growth areas and share some highlights from this quarter. Let me start with the occupational pension business. We see structural growth within Unitlinked, where volumes have grown by 27% year over year, corresponding to absolute growth of 95 billion in assets. Within occupational pensions, SPP was selected as best in class within sustainability by industry brokers. During the quarter, we also launched a new digital solution for paid-up policies with investment choice. This has been well received by customers, and even with a soft launch, we see promising traction. Within public occupational pensions, there is a limited number of ongoing tenders this year. We continue to wait for a clarification on the ESA case, and we'll let you know once we have more information on this topic. Public occupational pension is a growth area for Storbrann, and our aim remains to grow asset management in this market by 7 billion annually from 2023 through 2025. Within asset management, we keep delivering strong growth. Total asset under management grew by 19% year on year, while net flow in the quarter stood at 14 billion. During the third quarter, the Kubera Tenfan closed on a hard cap of 800 million euros. Storbrand Asset Management maintained its number one position on sustainable investments, according to a recent survey from Prospera. In sum, this has led to an earnings growth of 20 percent since third quarter 2023, stemming from a stable top line margin, positive flows and a solid contribution from actively managed funds. Let me lastly turn to the Norwegian retail market. Within insurance, we continue to gain market share, while premium volumes grew by 19% year on year. Repricing measures are having effects, and we are seeing gradual progress towards achieving our target of a combined ratio below 92% for 2025. Our market share in retail P&C is now 7%, compared to 6.5% a year ago. Meanwhile, the bank delivered strongly as a fast-growing challenger in the Norwegian retail market. Loan volumes were up by 13% year-on-year, and we are taking market share. And with the highest customer satisfaction in the market, Kron, the retail savings platform, increased assets by 14% during the third quarter and 72% year to date. Within retail as a whole, there is a solid growth momentum and we are pleased to report double digit earnings growth in the quarter. Now, let us take a step back again and look at Storbrann as a whole. It's pleasing to see that the growth in the front book, combined with strong cost control, leads to increasing cash results for shareholders. The group result is up by 41% year over year, supported both by a record high operating profit and a strong financial result. In sum, this has been a very strong quarter for Storbrann and a positive year to date. I'm pleased to see that we are executing on our strategy and making progress towards our financial targets for 2025. Finally, I want to extend my gratitude to the employees in Storbrann. Thank you for the great job you do every day. And with that, I give the word back to you, Johannes.

Thank you, Odariel. Now let's take a closer look at the numbers. Lars, please go ahead.