April 25, 2018 / 8:06 AM / a month ago

BRIEF-Insurer Gjensidige says price increases to compensate for claims inflation

April 25 (Reuters) - Gjensidige Forsikring ASA:

* “GOING FORWARD PRICE INCREASES WILL COMPENSATE FOR CLAIMS INFLATION,” GJENSIDIGE CEO HELGE LEIRO BAASTAD SAID DURING A PRESENTATION OF Q1 RESULTS

* “WE WILL HAVE HIGHER PRICE INCREASES GOING FORWARD THAN WE HAVE HAD IN THE PAST,” HE ADDED

* “PROFITABILITY COMES BEFORE MARKET SHARE AND WE ARE PREPARED TO HANDLE SOMEWHAT LOWER VOLUMES, WE ARE THE MARKET LEADER,” HE SAID

* GJENSIDIGE HAS ALSO FOR THE FIRST TIME TAKEN LARGE SCALE PREVENTIVE MEASURES FOLLOWING WARNINGS OF POTENTIAL HEAVY FLOODING THIS SPRING Further company coverage: (Reporting By Camilla Knudsen)

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