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Gjensidige Forsikring ASA (GJFS.OL)

GJFS.OL on Oslo Stock Exchange

175.10NOK
14 Jun 2019
Change (% chg)

kr0.40 (+0.23%)
Prev Close
kr174.70
Open
kr174.50
Day's High
kr175.50
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kr174.05
Volume
470,541
Avg. Vol
542,771
52-wk High
kr177.50
52-wk Low
kr118.80

Latest Key Developments (Source: Significant Developments)

Insurer Gjensidige's Q1 pre-tax profit beats forecast
Thursday, 25 Apr 2019 

April 25 (Reuters) - Gjensidige Forsikring ASA ::GJENSIDIGE Q1 PRETAX PROFIT FROM CONTINUING OPERATIONS NOK 3,030.7 MILLION (REUTERS POLL NOK 2.86 BILLION).GJENSIDIGE Q1 COMBINED RATIO 86.6 PERCENT (REUTERS POLL 89.5 PERCENT).GJENSIDIGE REITERATES 2019-2022 FINANCIAL TARGETS FOR COMBINED RATIO, COST, SOLVENCY AND ROE.  Full Article

Nordea Completes Acquisition Of Gjensidige Bank
Friday, 1 Mar 2019 

March 1 (Reuters) - Nordea Bank Abp ::NORDEA COMPLETES ACQUISITION OF GJENSIDIGE BANK.GJENSIDIGE BANK WILL UNTIL FURTHER NOTICE CONTINUE TO OPERATE AS AN INDEPENDENT BANK UNDER ITS CURRENT BRAND NAME.AS NORDEA TAKES OVER BANKING OPERATIONS, IT ALSO ENTERS INTO A MUTUAL PARTNERSHIP AGREEMENT WITH GJENSIDIGE FORSIKRING..ACQUISITION WILL ENHANCE NORDEA'S POSITION AS SECOND LARGEST BANK IN NORWAY.ACQUISITION ADDS 186,000 CUSTOMERS WITH EUR 5.2BN (NOK 51.6BN) CUSTOMER ASSETS (AS OF 31 DECEMBER 2018).  Full Article

Gjensidige Q4 pretax beats forecast thanks to large run-off gains
Thursday, 24 Jan 2019 

Jan 24 (Reuters) - Gjensidige Forsikring ASA ::A YEAR SIGNIFICANTLY IMPACTED BY EXTRAORDINARY WEATHER CONDITIONS .GJENSIDIGE PROPOSES 2018 DIVIDEND OF NOK 7.10 PER SHARE (REUTERS POLL NOK 7.25).GJENSIDIGE Q4 PRETAX PROFIT FROM CONTINUING OPERATIONS NOK 1,661 MILLION (REUTERS POLL NOK 591 MILLION).PROFIT WAS IMPACTED BY HIGH RUN-OFF GAINS OF NOK 1.4 BILLION.THE PROFIT FROM GENERAL INSURANCE OPERATIONS MEASURED BY THE UNDERWRITING RESULT WAS NOK 1,914.4 MILLION (555.4), CORRESPONDING TO A COMBINED RATIO OF 68.5 (90.7). .THE PROFIT WAS IMPACTED BY HIGH RUN-OFF GAINS OF NOK 1.4 BILLION (0.3). EXCLUDING THIS THE UNDERWRITING RESULT WAS NOK 530.3 MILLION (254.8), CORRESPONDING TO A COMBINED RATIO OF 91.3 (95.7).GJENSIDIGE REITERATES 2019-2022 FINANCIAL TARGETS FOR COMBINED RATIO, COST, SOLVENCY, ROE, DIVIDEND, EX-NORWAY UW RESULT.SAYS M&A OPPORTUNITIES WILL BE CONSIDERED IN THE NORDIC REGION AND THE BALTIC STATES.NOT SATISFIED WITH UNDERLYING RESULTS FOR 2018, EVEN WHEN ADJUSTING FOR EXTRAORDINARY WEATHER EFFECTS.WILL CONTINUE EFFORTS TO IMPROVE PROFITABILITY FOR THE MOTOR INSURANCE LINE IN NORWAY, PROFITABILITY FOR THIS INSURANCE LINE IS STILL EXPECTED TO REACH A TURNING POINT DURING THE FIRST HALF OF 2019.  Full Article

Gjensidige sees Q3 provisions of NOK 160 mln
Thursday, 11 Oct 2018 

Oct 11 (Reuters) - Gjensidige Forsikring ASA ::PROVISIONS IN THE THIRD QUARTER OF 2018.WILL RECORD PROVISIONS OF APPROXIMATELY NOK 160 MILLION IN Q3 OF 2018 RELATED TO ONGOING RESTRUCTURING MEASURES, AND EXPECTED CLAIMS FOR DAMAGED AGRICULTURAL CROPS IN NORWAY.AS A RESULT OF CONTINUING FOCUS ON IMPROVED DISTRIBUTION EFFICIENCY, GJENSIDIGE WILL CLOSE EIGHT BRANCH OFFICES IN NORWAY, INVOLVING STAFF REDUCTION AND TERMINATION OF PROPERTY LEASE CONTRACTS.IN ADDITION, GROUP HAS REDUCED STAFF IN SWEDEN AND DENMARK.WILL RECORD A RESTRUCTURING PROVISION OF APPROXIMATELY NOK 80 MILLION IN Q3 OF 2018.HOT AND DRY WEATHER THIS SUMMER HAS RESULTED IN SIGNIFICANT DAMAGES ON AGRICULTURAL CROPS IN NORWAY.DAMAGES ON CROPS IN NORWAY RELATED TO DROUGHT ARE TO A LARGE EXTENT COVERED BY NORWEGIAN GOVERNMENT.HOWEVER, GJENSIDIGE COVERS PARTS OF DAMAGES, BEYOND COMPENSATION FROM GOVERNMENT.THERE IS LIMITED VISIBILITY ON OUTCOME FOR GJENSIDIGE AT THIS POINT OF TIME. BASED ON CURRENT BEST ESTIMATE, GJENSIDIGE WILL RECORD CLAIMS PROVISIONS OF NOK 80 MILLION, RELATED TO CROP DAMAGES, IN Q3.  Full Article

Gjensidige Forsikring Board approves 2017 dividend of NOK 7.10 per share
Thursday, 5 Apr 2018 

April 5 (Reuters) - Gjensidige Forsikring ASA ::APPROVED BOARD'S PROPOSAL TO DISTRIBUTE A DIVIDEND FOR 2017 OF NOK 7.10 PER SHARE BASED ON PROFIT FOR YEAR.  Full Article

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 q2 result below forecast
Friday, 14 Jul 2017 

July 14 (Reuters) - Gjensidige Forsikring Asa :Gjensidige q2 pretax profit nok 1,503 million (Reuters poll nok 1.59 billion) vs 1,709 mln in Q2 2016.Gjensidige q2 combined ratio 85.0 percent (Reuters poll 82.8 percent) vs 79 pct in Q2 2016.  Full Article

Norway economy remains at risk from high private debt levels-bank regulator

OSLO, June 4 High debt levels among Norwegian consumers and high property prices continue to pose a significant risk to the Nordic country's economic and financial stability, its Financial Supervisory Authority (FSA) said on Tuesday.