January 26, 2018 / 6:19 AM / 6 months ago

BRIEF-Gjensidige Forsikring Q4 result and dividend below forecast

Jan 26 (Reuters) - Gjensidige Forsikring Asa:

* YET ANOTHER YEAR WITH SOLID GROWTH AND PROFITABILITY - THE BOARD PROPOSES DIVIDEND OF NOK 7.10 PER SHARE

* GJENSIDIGE Q4 PRETAX PROFIT NOK ‍1,243.1​ MILLION (REUTERS POLL NOK 1.46 BILLION) VS 1,305.8 MLN IN Q4 2016

* GJENSIDIGE Q4 COMBINED RATIO ‍90.7​ PERCENT (REUTERS POLL 86.7 PERCENT) VS 87.7 PCT IN Q4 2016

* ‍GROWTH, UNDERWRITING- AND CAPITAL DISCIPLINE AS WELL AS FURTHER RESERVE RELEASES WILL SUPPORT EARNINGS AND DIVIDENDS GOING FORWARD​

* GJENSIDIGE PROPOSES 2017 DIVIDEND OF NOK ‍7.10​ PER SHARE (REUTERS POLL NOK 8.69) VS NOK 6.80 IN 2016 (ORDINARY)

* SAYS OVER THE NEXT 3-5 YEARS, AVERAGE ANNUAL RUN-OFF GAINS ARE EXPECTED TO BE AROUND NOK 1,000 MILLION, MOVING THE EXPECTED REPORTED COMBINED RATIO TO THE LOWER END OF THE 86- 89 CORRIDOR (UNDISCOUNTED)

* IS A DIVIDEND-COMPANY AND WE AIM AT DELIVERING HIGH AND STABLE NOMINAL DIVIDENDS TO OUR SHAREHOLDERS ON A REGULAR BASIS​

* ‍IN ADDITION, WE WILL DISTRIBUTE EXCESS CAPITAL OVER TIME AS SPECIAL DIVIDENDS​ Source text for Eikon: Further company coverage: (Reporting By Ole Petter Skonnord)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below