Storebrand ASA — Board/Management Information 2015

Jun 17, 2015

Storebrand ASA: New and customer-oriented group organization

Storebrand ASA: New and customer-oriented group organization

Storebrand adapts to market developments through a new corporate organization.

"The change we are now doing facilitates a significant strengthening of both

customer orientation and profitability in Storebrand," says CEO of Storebrand,

Odd Arild Grefstad.

With the new organisation, Storebrand will:

· Improve customer orientation

· Increase profitability

"Two years ago we established two commercial units to receive our customers

consistently as one Storebrand/SPP in Norway and Sweden. We are now taking a

major new step in order to be more customer orientated by also establishing

unified service and product areas. The changes will pave the way for both a

better customer experience and better profitability," says Grefstad.

The changes will enter into force on 1 July.

New group organisation and two management changes

There will be one new member of the executive management. Jan Erik Saugestad

(50) has been appointed as acting head of Asset Management. Saugestad has an MSc

from NTNU, as well as an MBA from INSEAD in France. He moves from his current

position of head of Front Office in Asset Management. A recruitment process has

started to appoint a permanent head of this business area.

The head of Customer Area Sweden and managing director of SPP, Sarah McPhee, is

leaving executive management. She continues with the group as senior advisor for

sustainability until she retires in early 2016. Staffan Hansén, former head of

Asset Management, will replace Sarah McPhee.

"I would like to thank Sarah for the input and value creation that she has

helped to build up during seven successful years as head of the Group's

activities in Sweden. I also look forward to continuing to work with her in her

new role," says Grefstad.

With effect from 1 July 2015, the executive management of Storebrand will

consist of the following areas and members:

· Group CEO Odd Arild Grefstad.

· Economics and Finance and Business Support are headed by Lars Aa. Løddesøl

and Heidi Skaaret respectively.

· Customer Area Norway is headed by Robin Kamark.

· Customer Area Sweden is headed by Staffan Hansén. Hansén also takes over as

managing director of SPP Pension & Försäkring AB.

· Customer Service is headed by Geir Holmgren and combines the service units

in Norway and Lithuania. Holmgren continues as managing director of Storebrand

Livsforsikring AS.

· Product is headed by Hege Hodnesdal, who has combined monitoring

responsibility for the Group's products. Hodnesdal continues as managing

director of Storebrand Forsikring AS.

· Asset Management is headed by Jan Erik Saugestad (acting). Saugestad is also

acting managing director of Storebrand Asset Management AS.

Lysaker, Norway, 17 June 2015

Contacts:

Information Director Elin M. Myrmel-Johansen: Mobile +47 93 48 05 38

Head of Investor Relations Kjetil Ramberg Krøkje: Mobile +47 93 41 21 55