Investing in a Sustainable Future STOREBRAND ANNUAL REPORT 2018

Total Page:16

File Type:pdf, Size:1020Kb

Investing in a Sustainable Future STOREBRAND ANNUAL REPORT 2018 Investing in a sustainable future STOREBRAND ANNUAL REPORT 2018 Facts and figures 2018 Group profit NOK million Return on equity 3 158 13.7%1) Solvency margin NOK billion invested in fossil free funds 173% 68 Assets under Management, NOK billion Assets under Management screened for sustainability criteria 707 100% 1) After tax, adjusted for amortisation of intangible assets 3 LETTER FROM THE GROUP CHIEF EXECUTIVE OFFICER Investing in a sustainable future Odd Arild Grefstad Group Chief Executive Officer 4 STOREBRAND ANNUAL REPORT 2018 2018 was a good year. Storebrand delivered great results and took a step along Investing in a the road to becoming a world-class savings group. We completed a successful inte- gration of SKAGEN and Silver into the Group, explored and refined our sustainable sustainable future investments, and entered into close cooperation with the fintech company Dreams. Our financial solidity was strengthened and there was an increase in the dividends distributed to shareholders. At the same time, the financial markets experienced tur- bulence at the end of the year, in a somewhat uncertain macroeconomic situation. In 2018, Storebrand presented an ambition to build a world- several of our digital platforms in 2019. We want to be the class savings group, supported by insurance. This ambition preferred customer choice when the “Individual Pension builds on our position in the corporate market, as the Account” market opens in a year or two. The “Individual leading supplier of Norwegian occupational pensions and Pension Account” is a new financial product spearheaded an offensive challenger in the Swedish market. Our goal by the authorities where Norwegians can combine all of is to create world-class customer experiences in our core their defined contribution pensions from both current and areas of savings and pensions. Our driving force is to give former employers. our customers a future to look forward to by helping them secure their current and future finances. People are living Storebrand ended 2018 with record strong capital adequacy longer and can expect smaller government pensions in the and liquidity. The solvency margin at year end was 173 per future. For our customers, it will therefore be necessary to cent. Both the operating and financial results improved save more in the years to come. compared with the previous year. This increase is driven by strong growth in savings and insurance combined with strong To achieve the goals we have set, we must understand cost discipline in the Group. Overall, this gives the Board an the needs of our customers and ensure good interaction opportunity to increase the dividend to NOK 3 per share. between the digital touchpoints and human interactions. As an organisation, we need to be even more agile, keep The acquisitions of SKAGEN and Silver strengthen our adapting and developing new solutions, and have a relent- savings strategy. I’m impressed with the work done by the less focus on our customers. To support an agile way of teams when both SKAGEN and the Silver portfolio were working, we created several cross-functional teams with integrated into the Storebrand family. SKAGEN comple- substantial freedom of action. These teams define, prioritise ments and broadens Storebrand’s investment offerings and develop digital solutions and services. In 2018, we also and customer base. This work will continue in 2019, includ- entered into several fintech collaborations, including as part ing a stronger focus on international distribution of fund owner and partner of the savings app Dreams. Through an solutions. We benefit greatly from SKAGEN’s network and understanding of behavioural psychology, Dreams makes presence in European markets. digital savings easy and fun, and they were awarded as one of the 100 top fin-tech companies in the world in 2018. Storebrand´s driving force is to create a future we and our customers can look forward to. A great part of our work In Norway, our savings and insurance business delivered is therefore about working to achieve the UN Sustainable strong operational results. In Sweden, our subsidiary, SPP, Development Goals. Sustainable and socially responsible can also look back on a very good year, with strong premium investments lie at the core of our savings strategy. Among growth and a positive net flow of funds to the Company. other things, we are supporting the UN Global Compact, the In 2019, SPP aims to deliver double-digit growth and rein- world’s largest corporate social responsibility initiative. As force its digital lead. In Norway, we are busy planning and Norway’s largest private asset manager, our most important building on our savings offerings , which will be the main influence on the UN Sustainable Development Goals is tied to pillar of our growth strategy going forward. We are invest- how we invest the more than NOK 700 billion that we manage. ing over NOK 400 million in the revitalisation and renewal of 5 STOREBRAND ANNUAL REPORT 2018 The UN Climate Panel’s report in 2018 gave us an unpleas- ant reminder of the major climate challenges we are facing, which influence the choices we make as investors in the short, medium and long term. The financial industry is an important contributor in the efforts to limit global warming, and we have a clear strategy to invest through our own, targeted funds in companies that provide climate solutions. However, most importantly, we have strict environmental, climate and sustainability criteria for all our investments. The entire Storebrand portfolio is regularly screened according to our sustainability criteria. By the end of 2018, 171 compa- nies were excluded from the Storebrand investment universe. During the past year, we have had an owner dialogue with 314 companies. We have the industry’s strictest policy for the exclusion of coal, and we are now tightening our policy further with the goal of excluding any company that has more than 5 per cent of their earnings from coal 1) by 2026. In 2018, we also launched three custom investment portfo- lios, that we called “Wave”. Wave will only invest in companies that contribute to solving the greatest challenges of our time in the areas of renewable energy, equality and cities of the future. Going forward, we will continue to seek new invest- ment opportunities that contribute to sustainable solutions. At the same time, we will exercise active ownership through voting and dialogue with the companies in which we invest. Our aim is to influence them to reduce their CO2 emissions from their own activities, among other things. Sustainabil- ity is not just about corporate social responsibility, it’s also good business. Money placed with us, either in savings and pension products, insurance or the bank, should be working for our customers, and it should also be working for the planet and society. It should be Good Money. “Our driving force is to give our customers a future to look forward to by helping them secure their current and future finances.” Odd Arild Grefstad 1) We have already excluded any company that has more than 25 per cent of its earnings from coal.. 6 STOREBRAND ANNUAL REPORT 2018 Important events in 2018 Q1: January to March Q2: April to June • Launch of Wave: portfolios in which the customer • Storebrand acquired the remaining 9 per cent of invests in companies that are working to solve the the shares in SKAGEN AS and now owns the company greatest challenges in gender equality (Sustainability wholly. Goal 5), climate (Sustainability Goal 13) and Sustain- able Cities (Sustainability Goal 11). • Storebrand won the tender competition after Silver was placed under public administration in 2017. 16,000 customers with 24,500 contracts and NOK10 billion in assets under management were transferred to Storebrand. 8 Q3: July to September Q4: October to • Storebrand became a co-owner of the Swedish fintech company Dreams and launched the savings December application Dreams on the Norwegian market. • Zero coal by 2026: Storebrand introduced changes to its investment policy for coal and will thus not be invested • SKAGEN AS launched Norway’s largest fund platform in the coal industry by 2026. for Share Savings Accounts (ASK), approximately 600 funds in a single platform. • “Handshake of the Year” 2018: The food bank Matsen- tralen received the Storebrand Sustainability Prize • SPP launched the pension robot Gajda, a digital during the “Our Planet” conference. tool that guides the employees through the various pension elements and helps them make the right deci- • Google Pay: Storebrand launched Google Pay for easy, sion based on their life situation. fast and secure mobile payments. • The marketing campaign featuring the pink pension piggy bank was launched . Encouraging Norwegians to check their pension figures to see how much they have in their piggy bank was well received in the market. • SPP launched Sweden’s first fully digital occupa- tional pension offering. A new IT platform and new digital tools allow companies to obtain a need-adapted pension plan without any manual work. 9 STOREBRAND ANNUAL REPORT 2018 Important notice: This document may contain forward-looking statements. By their nature, forward-looking statements involve risk and uncertainty because they relate to future events and circumstances that may be beyond the Storebrand Group’s control. As a result, the Storebrand Group’s actual future financial condition, performance and results may differ materially from the plans, goals and expectations set forth in these forward-looking statements. Important factors that may cause such a difference for the Storebrand Group include, but are not limited to: (i) the macroeconomic development, (ii) change in the competitive climate, (iii) change in the regulatory environment and other government actions and (iv) market related risks such as changes in equity markets, interest rates and exchange rates, and the performance of financial markets generally.
Recommended publications
  • Årsrapport Storebrand ASA 2019
    Innhold Introduksjon 1. This is Storebrand 2. Customer relations 3. People 4. Keeping Our House in Order Storebrand ASA 5. Director´s report 6. Finansielle mål 7. Konsernets resultaterAnnual 2020 Report 8. Utbytte for 2020 9. Kapitalforhold 10. Rating 11. fremtidsutsikter 12. Risiko 13. arbeidsmiljø og HMS 14. Annual Accounts and notes 15. Shareholder matters 16. Sustainability assurance 17. Appendix 2020 Table of contents Introduction 6. Shareholder matters How to navigate in the Annual 3 Facts and figures 2020 report 5 Letter from the Group Chief Executive Officer 7. Annual Accounts 7 Chairman’s foreword and Notes 1. This is Storebrand Storebrand Group 10 About Storebrand 78 Income statement Previous page 11 Organisation 79 Statement of total comprehensive income 14 Executive management 80 Statement of financial position 15 Board of directors 82 Statement of changes in equity 83 Statement of cash flow Next page 2. Customer relations 85 Notes 19 Greater financial security and freedom 21 Engaging, relevant and responsible advice Storebrand ASA 22 Digital innovator in financial services 163 Income statement 23 Simple and seamless customer experiences 163 Statement of total comprehensive income Full screen 24 Key performance indicators 164 Statement of financial position 165 Statement of changes in equity 3. People 166 Statement of cash flow 26 A culture for learning 167 Notes 28 Engaged, competent and courageous employees 180 Declaration by member of the Board and the CEO 29 Diversity and equality 181 Independent auditor´s report Table of contents 31 Key performance indicators 8. Governance On the left hand side, you will always 189 Corporate Governance have access to the table of contents.
    [Show full text]
  • Annual Report Storebrand ASA 2019
    Annual Report 2019 Sustainable Solutions and Investments STOREBRAND ANNUAL REPORT 2019 Page 1, Photographer: Mikael Svensson/Johner Page 5, Photographer: Nathan Anderson/Unsplash Page 6, Photographer: Ole Berg-Rusten, NTB Page 9, Photographer: Alexey Topolyanskiy /Unsplash Page 17, Photographer: Bevan Goldswain/Offset.com Page 19, Photographer: Aurora Photos, USA / Offset.com Page 20, Photographer: Michael Nolan /Offset.com Page 23, Photographer: Unsplash Page 25, Photographer: Sarah Bridgeman/Offset.com Page 26, Photographer: Shutterstock/TunedIn by Westend61 Page 27, Photographer: Maskot/Offset.com Page 30, Photographer: Olga Kashubin Page 32, Photographer: Shutterstock/KYTan Page 35, Photographer: Maskot Bildbyrå /Johnér Bildbyrå AB Page 37, Photographer: Shutterstock/Syda Productions Page 38, Photographer: Kate Vredevoogd/Offset.com Page 43, Photographer: Shutterstock / Halfpoint Page 45, Photographer: Shutterstock Page 47, Photographer: Colourbox.com Page 51, Photographer: The Good Brigade/Offset.com Page 53, Photographer: Mikael Svensson / Johner Bildbyra AB / Offset.com Page 59, Photographer: Cultura / Offset.com Page 60, Photographer: Shutterstock / Kamil Macniak Page 63, Photographer: Unsplash Page 67, Photographer: Shutterstock/loreanto Page 71, Photographer: Storebrand archive Page 75, Photographer: Maskot/Offset.com Page 76, Photographer: Nixon Johansen Cáceres/Johnér Bildbyrå AB Page 77, Photographer: Martin Pålsson/Offset.com Page 85, Photographer: Shutterstock/Westend61 Premium Page 197, Photographer: Maskot/Offset.com Page
    [Show full text]
  • Norges Bank's Financial Sector Role in the Period 1945-2013, with a Particular Focus on Financial Stability
    A Service of Leibniz-Informationszentrum econstor Wirtschaft Leibniz Information Centre Make Your Publications Visible. zbw for Economics Haare, Harald; Lund, Arild J.; Solheim, Jon A. Research Report Norges Bank's Financial Sector Role in the Period 1945-2013, with a Particular Focus on Financial Stability Staff Memo, No. 9/2016 Provided in Cooperation with: Norges Bank, Oslo Suggested Citation: Haare, Harald; Lund, Arild J.; Solheim, Jon A. (2016) : Norges Bank's Financial Sector Role in the Period 1945-2013, with a Particular Focus on Financial Stability, Staff Memo, No. 9/2016, ISBN 978-82-7553-919-7, Norges Bank, Oslo, http://hdl.handle.net/11250/2506540 This Version is available at: http://hdl.handle.net/10419/210322 Standard-Nutzungsbedingungen: Terms of use: Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Documents in EconStor may be saved and copied for your Zwecken und zum Privatgebrauch gespeichert und kopiert werden. personal and scholarly purposes. Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle You are not to copy documents for public or commercial Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich purposes, to exhibit the documents publicly, to make them machen, vertreiben oder anderweitig nutzen. publicly available on the internet, or to distribute or otherwise use the documents in public. Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, If the documents have been made available under an Open gelten abweichend von diesen Nutzungsbedingungen die in der dort Content Licence (especially Creative Commons Licences), you genannten Lizenz gewährten Nutzungsrechte. may exercise further usage rights as specified in the indicated licence.
    [Show full text]
  • Pension Country Profile: Norway
    Pension Country Profile: Norway (Extract from the OECD Private Pensions Outlook 2008) The OECD Private Pensions Outlook 2008 contains a set of country profiles which describe in a concise manner the design of private pension systems in individual OECD countries. This document is an extract from this publication. For further information on the Outlook, please see www.oecd.org/daf/pensions/outlook. Contents Each Pension Country Profile is structured as follows: ¾ How to Read the Country Profile This section explains how the information contained in the country profile is organised. ¾ Country Profile The country profile is divided into six main sections: • Demographics and macroeconomics • Country pension design • Pension funds data overview • Reference information • Overview of private pension system by type of plan and financing vehicle ¾ Acronyms, Symbols and Conventional Signs ¾ Glossary 5. HOW TO READ THE COUNTRY PROFILES How to Read the Country Profiles This section provides country profiles, Series database. Population figures are from the describing private pension arrangements in OECD Population and Labour Force database. individual OECD countries. Each pension country profile is divided into six main sections: Country pension design ● Demographics and macroeconomics This section is split into two parts: ● Country pension design ➋ Potential average pension benefit ● Pension funds data overview This figure displays a broad estimate of the ● Private pension system’s key characteristics total pension income which an average-earning individual may receive from various sources (state, ● Reference information mandatory, and voluntary occupational pensions) ● Overview of private pension system by type of after a full working lifetime. It is expressed as a plan and financing vehicle percentage of the earnings the pensioner had just The figure below shows how the first three before retirement.
    [Show full text]
  • Annual Report 2009 Gjensidige.Com
    annual report 2009 gjensidige.com annual report GJ e n SIDIG e 2 0 0 9 eVENTS 2009 operation :: Talks between Storebrand and Gjensidige of a possible merger terminated in March. :: In May, Gjensidige Pension and Savings was a top scorer in the Norwegian Customer Barometer survey. :: Länsförsäkringar’s insurance portfolio in the Baltics was acquired in November. :: In November Gjensidige purchased equity certificates in Sparebank1 SR-Bank totalling NOK 866 million, becoming the largest single owner of the bank. :: An agreement to acquire Handelsbanken’s portfolio of defined-contribution pensions was signed in Oc- S tober. The portfolio was taken over in January 2010. :: Operations in Sweden were converted to a branch from 1 October 2009. :: Citibank’s consumer financing business was acquired by Gjensidige Bank in December. :: FInanCIAL CalendAR 2010 Date event 23rd april General Meeting 12th mai Publication of results of first quarter 5th august Publication of results of second quarter 4th november Publication of results of third quarter 24th november Supervisory Board Meeting t 2 this is gjensidige hisis 2 Confident and satisfied customers 4 Values and vision g 5 Company history jensidige 6 The markets 8 Financial key figures 9 Non-financial key figures 10 Strategy and goals operat 18 operations i 20 General insurance Private ons 24 General insurance Commercial 28 General insurance Nordic 31 General insurance Baltic 34 Pension and savings 38 Online retail banking 42 Health care services 44 Asset management 48 Additional information perspect
    [Show full text]
  • Precautionary Saving and Old-Age Pensions
    A Service of Leibniz-Informationszentrum econstor Wirtschaft Leibniz Information Centre Make Your Publications Visible. zbw for Economics Magnussen, Knut A. Working Paper — Digitized Version Precautionary Saving and Old-Age Pensions Discussion Papers, No. 108 Provided in Cooperation with: Research Department, Statistics Norway, Oslo Suggested Citation: Magnussen, Knut A. (1994) : Precautionary Saving and Old-Age Pensions, Discussion Papers, No. 108, Statistics Norway, Research Department, Oslo This Version is available at: http://hdl.handle.net/10419/192092 Standard-Nutzungsbedingungen: Terms of use: Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Documents in EconStor may be saved and copied for your Zwecken und zum Privatgebrauch gespeichert und kopiert werden. personal and scholarly purposes. Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle You are not to copy documents for public or commercial Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich purposes, to exhibit the documents publicly, to make them machen, vertreiben oder anderweitig nutzen. publicly available on the internet, or to distribute or otherwise use the documents in public. Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, If the documents have been made available under an Open gelten abweichend von diesen Nutzungsbedingungen die in der dort Content Licence (especially Creative Commons Licences), you genannten Lizenz gewährten Nutzungsrechte.
    [Show full text]
  • Regulatory Reform in Norway
    Regulatory Reform in Norway MARKETISATION OF GOVERNMENT SERVICES – STATE-OWNED ENTERPRISES © OECD (2003). All rights reserved. 1 ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT Pursuant to Article 1 of the Convention signed in Paris on 14th December 1960, and which came into force on 30th September 1961, the Organisation for Economic Co-operation and Development (OECD) shall promote policies designed: • to achieve the highest sustainable economic growth and employment and a rising standard of living in Member countries, while maintaining financial stability, and thus to contribute to the development of the world economy; • to contribute to sound economic expansion in Member as well as non-member countries in the process of economic development; and • to contribute to the expansion of world trade on a multilateral, non-discriminatory basis in accordance with international obligations. The original Member countries of the OECD are Austria, Belgium, Canada, Denmark, France, Germany, Greece, Iceland, Ireland, Italy, Luxembourg, the Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Turkey, the United Kingdom and the United States. The following countries became Members subsequently through accession at the dates indicated hereafter: Japan (28th April 1964), Finland (28th January 1969), Australia (7th June 1971), New Zealand (29th May 1973), Mexico (18th May 1994), the Czech Republic (21st December 1995), Hungary (7th May 1996), Poland (22nd November 1996), Korea (12th December 1996) and the Slovak Republic (14th December 2000). The Commission of the European Communities takes part in the work of the OECD (Article 13 of the OECD Convention). © OECD 2003 Permission to reproduce a portion of this work for non-commercial purposes or classroom use should be obtained through the Centre français d’exploitation du droit de copie (CFC), 20, rue des Grands-Augustins, 75006 Paris, France, tel.
    [Show full text]
  • Enhancing Social Inclusion in Latin America KEY ISSUES and the ROLE of SOCIAL PROTECTION SYSTEMS
    Enhancing Social Inclusion in Latin America KEY ISSUES AND THE ROLE OF SOCIAL PROTECTION SYSTEMS OECD Latin America & the Caribbean Regional Programme Enhancing Social Inclusion in Latin America: Key Issues and the Role of Social Protection Systems 1 This document has been drafted under the responsibility of the Secretary General of the OECD. The opinions expressed and arguments employed herein do not necessarily reflect the official views of the Organization or of the governments of its member and partner countries. This document and any map included herein are without prejudice to the status of or sovereignty over any territory, to the delimitation of international frontiers and boundaries and to the name of any territory, city or area. The statistical data for Israel are supplied by and under the responsibility of the relevant Israeli authorities. The use of such data by the OECD is without prejudice to the status of the Golan Heights, East Jerusalem and Israeli settlements in the West Bank under the terms of international law. You can copy, download or print OECD content for your own use, and you can include excerpts from OECD publications, databases and multimedia products in your own documents, presentations, blogs, websites and teaching materials, provided that suitable acknowledgment of OECD as source and copyright owner is given. All requests for public or commercial use and translation rights should be submitted to [email protected]. Requests for permission to photocopy portions of this material for public or commercial use shall be addressed directly to the Copyright Clearance Centre (CCC) at [email protected] or the Centre français d'exploitation du droit de copie (CFC) at [email protected].
    [Show full text]
  • Annual Report Storebrand ASA 2020
    Innhold Introduksjon 1. This is Storebrand 2. Customer relations 3. People 4. Keeping Our House in Order Storebrand ASA 5. Director´s report 6. Finansielle mål 7. Konsernets resultaterAnnual 2020 Report 8. Utbytte for 2020 9. Kapitalforhold 10. Rating 11. fremtidsutsikter 12. Risiko 13. arbeidsmiljø og HMS 14. Annual Accounts and notes 15. Shareholder matters 16. Sustainability assurance 17. Appendix 2020 Table of contents Introduction 6. Shareholder matters How to navigate in the Annual 3 Facts and figures 2020 report 5 Letter from the Group Chief Executive Officer 7. Annual Accounts 7 Chairman’s foreword and Notes 1. This is Storebrand Storebrand Group 10 About Storebrand 78 Income statement Previous page 11 Organisation 79 Statement of total comprehensive income 14 Executive management 80 Statement of financial position 15 Board of directors 82 Statement of changes in equity 83 Statement of cash flow Next page 2. Customer relations 85 Notes 19 Greater financial security and freedom 21 Engaging, relevant and responsible advice Storebrand ASA 22 Digital innovator in financial services 163 Income statement 23 Simple and seamless customer experiences 163 Statement of total comprehensive income Full screen 24 Key performance indicators 164 Statement of financial position 165 Statement of changes in equity 3. People 166 Statement of cash flow 26 A culture for learning 167 Notes 28 Engaged, competent and courageous employees 180 Declaration by member of the Board and the CEO 29 Diversity and equality 181 Independent auditor´s report Table of contents 31 Key performance indicators 8. Governance On the left hand side, you will always 4. Keeping Our House 189 Corporate Governance have access to the table of contents.
    [Show full text]
  • Storebrand Provides Security Today and a Future to Look Forward To
    Ved å sette kunden først og investere bærekraftig skal Storebrand være best på sparing til pensjon Storebrand provides Wenche Martinussen jobber kontinuerlig securityfor å gjøre pensjon enkelt today for våre kunder and a future to look forward to AnnualÅrsrapport Report 2015 2016 Årsrapport 2014 Storebrand ASA 1 1 History of Storebrand ”Den almindelige Storebrand’s ownders Brand-Forsikrings- estaablish Norway’s frst Anstalt” is established in privately owned insurance Copenhagen. company “Idun” 1760 1780 1800 1820 1840 1860 1767–1919: ROOTS 1925 1990–1999: CRISIS AND CHANGE Storebrand changes its name from ”Chris- 1767 tiania Almindelige Forsikrings-Aksjeselskap” 1990 ”Den almindelige Brand-Forsikrings- (renamed in 1915) to ”Christiania Almindelige Storebrand and UNI Forsikring agree to Anstalt” is established in Copenhagen. Forsikrings-Aksjeselskap Storebrand”. This merge, and the merger receives ofcial name is kept until 1971. permission in January 1991. 1814 Following the split from Denmark, 1936 1992 management of the fre insurance scheme Storebrand acquires Europeiske, the leading UNI Storebrand’s negotiations with Skandia is transferred to Christiania, as the capital travel insurance company in Norway. concerning establishing a major Nordic of Norway was called at that time. In 1913 company fail to reach agreement. the scheme is converted into a public sector 1962 company called Norges Brannkasse. Storebrand initiates a new wave of acqui- 1996 sitions and mergers by acquiring Norrøna, The company changes its name to 1847 which was experiencing fnancial problems. Storebrand ASA and establishes On 4 May 1847, the P&C insurance company Storebrand Bank ASA. ”Christiania Almindelige Brand- 1963 forsikrings-Selskab for Varer og Efecter” Storebrand acquires Norske Fortuna.
    [Show full text]
  • Activation Policies in Norway
    OECD Social, Employment and Migration Working Papers No. 78 Nicola Duell, Activation Policies Shruti Singh, in Norway Peter Tergeist https://dx.doi.org/10.1787/226388712174 Unclassified DELSA/ELSA/WD/SEM(2009)4 Organisation de Coopération et de Développement Économiques Organisation for Economic Co-operation and Development 02-Mar-2009 ___________________________________________________________________________________________ English - Or. English DIRECTORATE FOR EMPLOYMENT, LABOUR AND SOCIAL AFFAIRS EMPLOYMENT, LABOUR AND SOCIAL AFFAIRS COMMITTEE Unclassified DELSA/ELSA/WD/SEM(2009)4 Cancels & replaces the same document of 02 March 2009 OECD SOCIAL, EMPLOYMENT AND MIGRATION WORKING PAPERS No. 78 ACTIVATION POLICIES IN NORWAY Nicola Duell, Shruti Singh and Peter Tergeist JEL Classification: H53, H83, I38, J08, J63, J65, J68. All Social, Employment and Migration Working Papers are now available through OECD's Internet website at http://www.oecd.org/els/workingpapers English - Or. English JT03260404 Document complet disponible sur OLIS dans son format d'origine Complete document available on OLIS in its original format DELSA/ELSA/WD/SEM(2009)4 DIRECTORATE FOR EMPLOYMENT, LABOUR AND SOCIAL AFFAIRS http://www.oecd.org/els OECD SOCIAL, EMPLOYMENT AND MIGRATION WORKING PAPERS http://www.oecd.org/els/workingpapers This series is designed to make available to a wider readership selected labour market, social policy and migration studies prepared for use within the OECD. Authorship is usually collective, but principal writers are named. The papers are generally available only in their original language – English or French – with a summary in the other. Comment on the series is welcome, and should be sent to the Directorate for Employment, Labour and Social Affairs, 2, rue André-Pascal, 75775 PARIS CEDEX 16, France.
    [Show full text]
  • Forum for Nordic Dermato-Venereology
    Suppl. 15, Vol. 13, 2008 ISSN 1402-2915 Forum for Nordic Dermato-Venereology Official journal of the Nordic Dermatological Association 31st Nordic Congress of Dermato-Venereology May 31 – June 3, 2008 in Reykjavik, Iceland RK·FINL MA AN N D E · I D C · E N L A E N D Forum E D NDV· N W S O · R Y A Published by Society for Publication of Acta Dermato-Venereologica W http://forum.medicaljournals.se CoverAbstractboken.indd 1 2008-05-12 17:05:08 31st Nordic Congress of Dermato-Venereology May 31–June 3, 2008 in Reykjavik, Iceland Programme and Abstracts ProtopicProtopic® providespro effect effectiveive controlcon of atopic eczemaecz • FastFast rreliefelief of iitchtch1 • EffectiveEffective control ooff atopicatopic eczema2 • For short-term and intermittentin long-termlong-term treatment in adults andand cchildrenhildren (>2 yyears)ear 3 REFERENCES: 1. Reitamo S., et al. J Allergy Clin Immunol 2002;109: 539-546. 2. Reitamo S. Br. J. dermatol 2005:152:1282-89. 3. Summary of product characteristics Nov. 2006. unplugged.dk/20241/0234/04.2008 20241_Protopic_ann_man_IS_UK_210x280.indd 1 4/11/08 11:18:28 AM Table of Contents Welcome to Reykjavik 5 Congress Information 6 Floor Maps 8 Overview: Abstract Titles and Chairmen 10 Sponsors 13 Programme at a Glance 14 Abstracts in the 31st Nordic Congress of Dermato-Venereology Plenary Sessions 16 Parallel Sessions 17 Courses and Workshop 39 Posters 43 Abstract Author Index 48 Information from Nordic Dermatology Association Regulations of Nordic Dermatology Association 50 Meetings in Nordic Dermatology Association 51 Minutes from Nordic Dermatology Association 52 Economical report for 2004, 2005, 2006 och 2007 54 Necrologies 55 Members in the National Societies 57 Protopic 0.03% and 0.1% ointment (tacrolimus) *Interactions: Formal topical drug interaction studies with tacrolimus ointment have not been conducted.
    [Show full text]