Storebrand (SB) is the leading provider of life insurance and pensions in the Nordic region, with additional operations within Property & Casualty Insurance, asset management and banking. Life & pension and asset management are the dominating segments in SB. The income in life and pension is relying on investment returns, i.e. the development in the financial market, and risk charges. Besides the financial market risks, the pension and life sector is very sensitive to regulatory changes, i.e. tax benefits related to pension savings.