It is inserted together with Hróa þáttr heimska in the description of Olaf Haraldsson's wooing of the Swedish princess Ingegerd Olofsdotter. Their purpose appears to be to present the Swedish court, its traditions and Þorgnýr the Lawspeaker. In the story, Styrbjörn becomes the leader of the Jomsvikings and makes war against the Danes, until he makes peace with the Danish king Haraldr Gormsson who in return gave Styrbjörn his daughter and 100 ships.