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Gjensidige Forsikring ASA (GJFS.OL)

GJFS.OL on Oslo Stock Exchange

151.10NOK
15 Dec 2017
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Latest Key Developments (Source: Significant Developments)

Gjensidige Q3 pretax profit above forecast
Thursday, 26 Oct 2017 

Oct 26 (Reuters) - Gjensidige Forsikring Asa :Gjensidige q3 pretax profit nok ‍1.72 bln (Reuters poll nok 1.52 billion).Gjensidige q3 combined ratio ‍81.0​ percent (Reuters poll 84.4 percent).Says large losses were lower than in the third quarter 2016, below the level that is normally expected.The Board remains confident in Gjensidige’s ability to deliver solid earnings and dividend growth over time .Strong underwriting profitability is expected to offset a challenging environment as regards achieving investment returns.Repeats guidance for combined ratio.Says the macroeconomic situation is improving, and the outlook for the Norwegian and Nordic general insurance operations is regarded as good.Says new, profitable opportunities for growth will be considered in the Nordic region and the Baltic states in order to ensure good utilisation of a scalable business model and best practice.  Full Article

Gjensidige Bank in SEK 200 mln bond issue
Friday, 20 Oct 2017 

Oct 20 (Reuters) - Gjensidige Forsikring Asa :Gjensidige bank asa: new senior unsecured SEK bond and buy-back in GJEB17.‍gjensidige bank asa today issued SEK 200 million in a new senior bond. Bond has floating interest rate and maturity date 27 october 2022.Gjensidige Bank ASA has at the same time repurchased nominal NOK 230 million in GJEB17 from the market​.  Full Article

Gjensidige Chairman Inge Hansen to step down in 2018
Tuesday, 17 Oct 2017 

Oct 17 (Reuters) - Gjensidige Forsikring Asa :Gjensidige forsikring asa: Chairman of the Board Inge K. Hansen do not seek re-election in 2018.‍Hansen has been chairman of board at Gjensidige since 2008​.‍Nomination committee will immediately start process to find Hansen's successor​.  Full Article

Gjensidige sells 14,500,000 shares in SpareBank1 SR
Wednesday, 12 Oct 2016 

SpareBank 1 SR Bank ASA : Gjensidige has sold 14,500,000 shares in SB1 SR-bank, representing 5.67 per cent of share capital by way of an accelerated bookbuilding process .Shares were sold at a price of 46.00 Norwegian crowns per share.  Full Article

Gjensidige sold 5.7 pct SR-Bank stake, now holds 4.8 pct
Wednesday, 12 Oct 2016 

Gjensidige : Sold 14,500,000 shares in Sparebank 1 SR-Bank, representing 5.67 per cent of share capital by way of an accelerated bookbuilding process. Shares were sold at a price of nok 46.00 each. Gjensidige now holds 4.81 percent of the bank's shares . SR-Bank's shares on Tuesday closed at NOK 47.4 .has entered into a customary lock-up with the bookrunners of 3 months following the completion of the sale.  Full Article

Norwegian insurer Gjensidige to cut staff, picks new CFO
Monday, 26 Sep 2016 

Gjensidige Forsikring: Says "efficiency measures will be implemented to ensure a competitive organisation set to deliver on Gjensidige's strategic priorities" . The Group's financial targets remain unchanged . During 2017, Gjensidige will reduce number of employees by about 190 full-time equivalents within staff and support functions across the Group . A non-recurring provision of about NOK 120 million will be made in the third quarter 2016 to cover restructuring costs . Says hope to avoid lay-offs by offering voluntary solutions to employees . Jostein Amdal will take over as CFO after Catharina Hellerud. Amdal has been head of capital management and M&A for the past two years, and was previously head of Group risk . Martin Danielsen will leave the group management to head Gjensidige's strategic initiatives within data mining and analytics .Hellerud, will continue as executive vice president, now with responsibility for Analytics, Product and Price.  Full Article

Insurer Gjensidige's Q2 earnings above forecast
Friday, 15 Jul 2016 

Gjensidige Forsikring says: Q2 pretax profit NOK 1.71 billion (Reuters poll NOK 1.56 billion) . Q2 combined ratio 80.6 percent (Reuters poll 81.2 percent) . Overtime, dividend payouts will reflect Gjensidige's policy not to build capital in excess of the targeted capitalisation. . Over the next 2.5-4.5 years, average annual run-off gains are expected to be around NOK 800 million, moving the expected reported combined ratio to the lower end of the 86-89 corridor (undiscounted). . The board remains confident in Gjensidige's ability to deliver solid earnings and dividend growth over time. .A potential new tax on financial services in Norway might materialise in 2017. More clarity on this issue is expected during the fourth quarter 2016..  Full Article

Norwegian insurer Gjensidige buys Vardia's Swedish portfolio
Wednesday, 27 Apr 2016 

Gjensidige Forsikring ASA:Has agreed to acquire the Swedish insurance portfolio of Vardia Insurance Group ASA.Gjensidige´s market share in Sweden will increase from approximately 1.6 percent to approximately 2.5 percent based on 2015 numbers.Gross premiums written for the Swedish portfolio to be acquired were approximately SEK 650 million in 2015, of which 75 per cent were retail premiums and 25 per cent were commercial SME premiums.In relation to, and conditional upon, the acquisition of the portfolio, Gjensidige has also entered into an agreement to acquire Vardia Försäkring AB from Vardia Holding AB.The closing of the transaction is expected to take place during the second quarter of 2016, contingent upon approval from the relevant authorities and certain other conditions being fulfilled.Isolated, the transaction is expected to affect the strategic capital buffer of Gjensidige by approximately NOK 500 million.  Full Article

Gjensidige Forsikring ASA proposes dividend for FY 2015
Wednesday, 3 Feb 2016 

Gjensidige Forsikring ASA:Proposes FY 2015 dividend of ‍8.40​ Norwegian crowns per share.  Full Article