StoreBrand (OTCPK:SREDY) is a leading insurance company in the Nordic market which has been under a restructuring program over the past few years. It has taken decisive measures to lower balance sheet risk and reduce its dependence on guaranteed products.
This has improved the company’s business profile and capitalization, enabling it to resume dividend payments recently. However, its valuation is still at a deep discount to that of its closest peers, and a re-rating seems warranted, giving StoreBrand plenty of upside potential. The StoreBrand Group is a leading insurance company in the Nordic market, especially concerning long-term savings and insurance.
It is based in Oslo, Norway, and was founded in 1767. The company has about 1700 employees and a total of 1.9 million customers in its domestic market and Sweden. It has a market capitalization of about $3 billion and trades in the U.S. on the over-the-counter market.