Storebrand ASA — M&A Activity 2026

Jan 29, 2026

STOREBRAND ASA: Letter of Intent signed with Knif

STOREBRAND ASA: Letter of Intent signed with Knif

Storebrand ASA («Storebrand») has signed a Letter of Intent (LOI) with Knif AS

("Knif") and Knif Trygghet Forsikring AS for a long-term strategic partnership.

Pursuant to the LOI, the parties will explore a merger between Knif Trygghet

Forsikring AS and Storebrand Forsikring AS, combined with a broader strategic

partnership among Storebrand, Knif and Knif's affiliated parties.

"We are looking forward to exploring the opportunities in a strategic

partnership with Knif. The aim of this is to create a market-leading and

comprehensive offering to non-profit and volunteer organisations," says Vivi

Måhede Gevelt, EVP in Storebrand.

Knif is owned by 64 organisations within the Christian and non-profit sector.

The company's value proposition is to create benefits for the Christian and non

-profit sector through procurement agreements and other services. Knif Trygghet

Forsikring AS is a specialised insurance company for the Christian sector,

voluntary and non-profit organisations as well as their employees and members.

Knif Trygghet Forsikring AS had portfolio premiums of approximately NOK 800

million as of the fourth quarter in 2025. According to the latest figures from

Finance Norway, Storebrand has a 5.7 percent share of the market for non-life

insurance for the private and corporate sectors, while Knif Trygghet Forsikring

AS has a share of 0.6 percent.

Any definite agreement between the parties will be subject to further

negotiations and the completion of a due diligence process. The potential

transaction is also conditional on approvals from the Norwegian Financial

Supervisory Authority (Finanstilsynet), the Norwegian Competition Authority

(Konkurransetilsynet) and the relevant boards of Storebrand and Knif. A

potential merger between Storebrand Forsikring AS and Knif Trygghet Forsikring

AS is not expected to have a material impact on the solvency ratio, liquidity

position or financial results of the Storebrand Group.

Storebrand will disclose any further information in accordance with its

applicable disclosure obligations.

Lysaker, 29 January 2026

For further enquiries, please contact:

Johannes Narum, Head of Investor Relations:

johannes.narum@storebrand.no or (+47) 993 33 569

Media enquiries:

Stig-Øyvind Blystad, Director of Communications:

stig-oyvind.blystad@storebrand.no or (+47) 918 47 226

Aleksander Hannisdal, Head of Financial and Strategic Communication:

aleksander.hannisdal@storebrand.no or (+47) 98 04 39 36

About Storebrand

Storebrand is a Nordic financial group that provides economic security and

freedom for individuals and businesses. We aim to offer sustainable solutions

and inspire our customers to make sound financial choices for the future:

together, we create a future to look forward to. Storebrand has approximately

61,000 corporate customers, 2.6 million individual customers, and manages

NOK 1,561 billion in assets. The Group's head office is located at Lysaker

outside Oslo. Storebrand is listed on the Oslo Stock Exchange (STB).

About Knif

Knif is owned by 64 organisations within the Christian and non-profit sector.

The company's value proposition is to create benefits for the Christian and non

-profit sector through procurement agreements and other services. Knif Trygghet

Forsikring AS is a specialised insurance company for the Christian sector,

voluntary and non-profit organisations as well as their employees and members.