Gjensidige forsikring (GJF)

[E24Bot]

Krevende vær trakk ned Gjensidige-resultatet

Krevende vær trakk ned Gjensidige-resultatet

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Acquisition of own shares / primary insider trades

On 26 April 2024, DNB acquired a total of 127 222 shares in Gjensidige
Forsikring ASA (“Gjensidige” or the “Company”, OSE:GJF, LEI
5967007LIEEXZX6FAO47, ISIN NO0010582521) on behalf of the Company. 102 177
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shares have been sold to employees at a price of NOK 178.9203 per share as part
of Gjensidige’s share savings scheme for 2024. For a description of the share
savings scheme, see the stock exchange release dated 18 December 2023.

Acquisition of shares under the share savings scheme for the first quarter 2024
is now complete.

Primary insiders in Gjensidige have on 26 April 2024 received shares in the
Company as part of the share savings scheme for 2024. See attachment for details
on the acquisition of shares by primary insiders.

Following the purchase and sale of shares for the first quarter of 2024 in
connection with the share savings scheme, Gjensidige will own 41 859 own shares.

This information is subject to the disclosure requirements pursuant to article
19 of Regulation (EU) No 596/2014 and section 5-12 of the Norwegian Securities
Trading Act.

Contacts:
Head of Investor Relations: Mitra Hagen Negård. Tel: +47 957 93 631
Head of Communication: Øystein Thoresen. Tel: +47 952 33 382

Kilde

[TekBot]

GJF, GJF01, GJF03, GJF04, GJF05, GJF06, GJF07: S&P affirms A rating on Gjensidige and outlook remains stable; BBB+ rating on tier 2 debt and BBB rating on restricted tier 1 subordinated debt affirmed

Please see attachment for further details.

Contact persons, Gjensidige Forsikring ASA:
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Head of Investor Relations Mitra Hagen Negård, Tel: +47 957 93 631
Investor Relations Officer: Marius Michelsen Fjellbo, Tel: +47 995 67 593

Gjensidige is a leading Nordic insurance group listed on the Oslo Stock
Exchange. We have about 4,500 employees and offer insurance products in Norway,
Denmark, Sweden and the Baltic states. In Norway, we also offer pension and
savings. The Group’s operating income was NOK 36 billion in 2023, while total
assets were NOK 148 billion.

Kilde

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Ny rente

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Ny rente

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Invitation to the presentation of Gjensidige’s results for the 2nd quarter 2024

Gjensidige Forsikring (OSE:GJF) will publish the results for the 2nd quarter
2024 on 15 July at 7.00 CET.

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15 July (Oslo)

9.00 CET

CEO Geir Holmgren and CFO Jostein Amdal will present the results in a combined
webcast and conference call. The presentation and following Q&A session will be
held in English. The webcast can be viewed live on www.gjensidige.com/ir.

Participants who would like to ask questions can dial in using one of the
telephone numbers below. The full presentation can also be listened to live,
using the same dial-in details.

Dial-in details:
Norway: +47 2156 3318 UK/ Europe: +44 (0) 33 0551 0200 USA: +1 786 697 3501
Other locations: Please choose one of the above
Password: GjensidigeQ2

A replay of the presentation and Q&A session will be made available from the
same day.

11.00 CET

CEO Geir Holmgren and CFO Jostein Amdal will be available for a hybrid Q&A
session for sell-side analysts. Sell-side analysts who wish to attend can
register by sending an e-mail to ir@gjensidige.no by the end of 11 July. Please
specify if the attendance would be in person at Gjensidige’s head office,
Schweigaards gate 21 in Oslo or digitally. For digital participants, dial in
details will be sent upon registration.

Contact persons, Gjensidige Forsikring ASA:
Head of Investor Relations, Mitra Hagen Negård. Tel.: +47 957 93 631
Head of Communication, Øystein Thoresen. Tel.: +47 952 33 382

For more information about Gjensidige, please visit www.gjensidige.com.

Gjensidige is a leading Nordic insurance group listed on the Oslo Stock
Exchange. We have about 4,500 employees and offer insurance products in Norway,
Denmark, Sweden and the Baltic states. In Norway, we also offer pension and
savings. The Group’s operating income was NOK 36 billion in 2023, while total
assets were NOK 148 billion.

Kilde

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Ny rente

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Ny rente

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Ny rente

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Kilde

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Ny rente

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Kilde

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Resultat for andre kvartal 2024 påvirket av skadekostnader i Norge

Denne meldingen inneholder innsideinformasjon knyttet til Gjensidige Forsikring
ASA i henhold til EUs forordning om markedsmisbruk, og er informasjonspliktig
etter den norske verdipapirhandelloven §5-12.
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Høyere erstatningsutbetalinger på motor- og eiendomsforsikring i Norge hadde
negativ innvirkning på forsikringsresultatet. Negativ utvikling i skadekostnader
i første kvartal 2024 bidro også til forverringen av den underliggende
frekvensskadeprosenten i andre kvartal. Løpende pristiltak er ytterligere
styrket for å bedre lønnsomheten. Forsikringsresultatet ble positivt påvirket av
endringer i risikojusteringen. Måloppnåelse på combined ratio-målet for 2024 vil
bli utfordret av resultatene for første halvår 2024.

Høydepunkter Andre kvartal Hittil i år
2024 2023 2024 2023
Konsern
Resultat før skatt Mill. NOK 1.830,5 1.333,9 2.906.7 2.825,3
Resultat per aksje NOK 2,72 2,04 4,31 4,30
Skadeforsikring
Forsikringsinntekter Mill. NOK 9.831,7 8.959,5 19.305,6 17.491,3
Forsikringsresultat Mill. NOK 1.433,6 1.508,6 2.137,7 2.623,4
Combined ratio Prosent 85,4 83,2 88,9 85,0
Kostnadsandel Prosent 13,2 13,6 13,3 13,5
Finansresultat Mill. NOK 514,2 -199,3 961,8 594,8
Solvensmargin, Prosent 169,8 179,8 169,8 179,8
godkjent partiell
internmodell

Utvikling i kvartalet

-Resultatene for andre kvartal ble betydelig påvirket av høyere skadekostnader i
Norge, men vi fortsetter å ha meget sterk vekst, og vår kapitalposisjon er
solid, sier konsernsjef Geir Holmgren.

-Vi er fullt fokusert på å forbedre lønnsomheten. Økningen i skadekostnader blir
møtt med betydelige og målrettede pristiltak. Vi vil forbedre combined ratio for
konsernet og underliggende frekvensskadeprosent for Privat og Commercial over
tid, og vi opprettholder alle finansielle mål for 2025 og 2026, sier Holmgren.

Skadeforsikring

Forsikringsinntektene økte med 9,7 prosent til 9 831,7 millioner kroner i
kvartalet, eller med 10,0 prosent målt i lokal valuta. Dette var i hovedsak
drevet av effektive og differensierte pristiltak og solide fornyelser.

Forsikringsresultatet gikk ned med 5,0 prosent, noe som reflekterer en økning i
skadeprosenten på 2,7 prosentpoeng. Endret risikojustering og høyere
diskonteringseffekt bidro positivt til skadeprosenten. Den underliggende
frekvensskadeprosenten økte med 5,6 prosentpoeng, hovedsakelig drevet av høyere
skadefrekvens og økt snittskade for motor- og eiendomsforsikring i Norge.
Negativ utvikling i skadekostnader i første kvartal 2024 for Privat og
Commercial i Norge bidro også med om lag 2 prosentpoeng til forverringen av den
underliggende frekvensskadeprosenten i dette kvartalet.

Pågående pristiltak er ytterligere styrket for å bedre lønnsomheten.

Kostnadsandelen økte med 0,4 prosentpoeng, hovedsakelig som følge av
effektiviseringstiltak og vekst i forsikringsinntektene.

Pensjon

Pensjonssegmentet oppnådde et resultat før skattekostnad på 185,9 millioner
kroner, hovedsakelig drevet av høyere netto finansinntekter.

Finansresultat

Finansresultatet for kvartalet ble 514,2 millioner kroner, noe som tilsvarer en
totalkapitalavkastning på 0,8 prosent. Resultatet for kvartalet ble positivt
påvirket av høye løpende renter og positive aksjemarkeder. Høyere renter
påvirket resultatet negativt.

Denne meldingen inneholder alternative resultatmål (APM). APM er beskrevet på
www.gjensidige.com/rapportering.

Denne meldingen er publisert av Christian Haraldsen, kommunikasjonssjef i
Gjensidige Forsikring ASA.

Dato og klokkeslett for publisering: 07:00 CET, 15. juli 2024

Kontakter:
Kommunikasjonsdirektør Øystein Thoresen. Tlf: +47 952 33 382
IR-direktør Mitra Hagen Negård. Tlf: +47 957 93 631

Gjensidige er et ledende nordisk skadeforsikringsselskap notert på Oslo Børs. Vi
har om lag 4500 medarbeidere og tilbyr skadeforsikring i Norge, Danmark, Sverige
og Baltikum. I Norge tilbyr vi også pensjon og sparing. Driftsinntektene var 36
milliarder kroner i 2023 mens forvaltningskapitalen utgjorde 148 milliarder
kroner.

Kilde

[TekBot]

Second quarter 2024 result s impacted by higher claims in Norway

This release contains inside information related to Gjensidige Forsikring ASA
pursuant to the EU Market Abuse Regulation and is subject to the disclosure
requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.
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Higher claims for motor and property insurance in Norway had a negative impact
on the insurance service result. Adverse development in claims in the first
quarter 2024 also contributed to the deterioration of the underlying frequency
loss ratio in the second quarter. Ongoing pricing measures have been further
strengthened to improve profitability. The insurance service result was
positively impacted by changes in the risk adjustment. Delivery on the combined
ratio target for 2024 will be challenged by the results for the first half of
2024.

Highlights Second quarter Year-to-date
2024 2023 2024 2023
Group
Profit or loss before NOK million 1,830.5 1,333.9 2,906.7 2,825.3
tax
Earnings per share NOK 2.72 2.04 4.31 4.30
General Insurance
Insurance revenue NOK million 9,831.7 8,959.5 19,305.6 17,491.3
Insurance service NOK million 1,433.6 1,508.6 2,137.7 2,623.4
result
Combined ratio Per cent 85.4 83.2 88.9 85.0
Cost ratio Per cent 13.2 13.6 13.3 13.5
Financial result NOK million 514.2 -199.3 961.8 594.8
Solvency ratio, Per cent 169.8 179.8 169.8 179.8
approved Partial
Internal Model

Development during the quarter

-The second quarter results were significantly impacted by higher claims in
Norway, but we continue to have a very strong growth momentum, and our capital
position is solid, says CEO Geir Holmgren.

-We are fully committed to improve profitability. The increase in claims is
being met with significant and targeted pricing measures. We will improve the
combined ratio for the Group and the underlying frequency loss ratio for Private
and Commercial over time, and we maintain all the financial targets for 2025 and
2026, Holmgren says.

General insurance

Insurance revenue increased by 9.7 per cent to NOK 9,831.7 million in the
quarter, or by 10.0 per cent measured in local currency. This was mainly driven
by effective and differentiated pricing measures and solid renewals.

The insurance service result decreased by 5.0 per cent, reflecting 2.7
percentage points increase in the loss ratio. A change of the risk adjustment,
and a higher discounting effect contributed positively to the loss ratio. The
underlying frequency loss ratio rose 5.6 percentage points primarily driven by
higher claims frequency and claims severity for motor and property insurance in
Norway. Adverse development in claims in the first quarter 2024 for Private and
Commercial in Norway also contributed with approximately 2 percentage points to
the deterioration of the underlying frequency loss ratio in this quarter.

Ongoing pricing measures have been further strengthened to improve
profitability.

The cost ratio improved by 0.4 percentage points mainly due to efficiency
measures and growth in insurance revenue.

Pension

The pension segment recorded a profit before tax expense of NOK 185.9 million,
mainly driven by a higher net finance income.

Financial result

The financial result for the quarter was NOK 514.2 million, which corresponds to
a return on total assets of 0.8 per cent. The result for the quarter was
positively impacted by high running yields and positive equity markets. Higher
interest rates had a negative impact on the result.

This release contains alternative performance measures (APMs). APMs are
described at www.gjensidige.com/reporting

This release is issued by Christian Haraldsen, media relations officer at
Gjensidige Forsikring ASA.

Date and time of publication: 07:00 CET, 15 July 2024

Contact persons
Head of Communication, Øystein Thoresen. Tel: +47 952 33 382
Head of Investor Relations Mitra Hagen Negård. Tel: +47 957 93 631

Gjensidige is a leading Nordic insurance group listed on the Oslo Stock
Exchange. We have about 4,500 employees and offer insurance products in Norway,
Denmark, Sweden and the Baltic states. In Norway, we also offer pension and
savings. The Group’s operating income was NOK 36 billion in 2023, while total
assets were NOK 148 billion.

Kilde

[TekBot]

Acquisition of own shares / primary insider trades

On 16 July 2024, DNB acquired a total of 116 328 shares in Gjensidige Forsikring
ASA (“Gjensidige” or the “Company”, OSE:GJF, LEI 5967007LIEEXZX6FAO47, ISIN
NO0010582521) on behalf of the Company. 93 548 shares have been sold to
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employees at a price of NOK 180.6185 per share as part of Gjensidige’s share
savings scheme for 2024. For a description of the share savings scheme, see the
stock exchange release dated 18 December 2023.

Acquisition of shares under the share savings scheme for the second quarter 2024
is now complete.

Primary insiders in Gjensidige have on 16 July 2024 received shares in the
Company as part of the share savings scheme for 2024. See attachment for details
on the acquisition of shares by primary insiders.

Following the purchase and sale of shares for the second quarter of 2024 in
connection with the share savings scheme, Gjensidige will own 48 275 own shares.

This information is subject to the disclosure requirements pursuant to article
19 of Regulation (EU) No 596/2014 and section 5-12 of the Norwegian Securities
Trading Act.

Contacts:
Head of Investor Relations: Mitra Hagen Negård. Tel: +47 957 93 631
Head of Communication: Øystein Thoresen. Tel: +47 952 33 382

Kilde

[TekBot]

Sale of Gjensidige’s operations in the Baltics to ERGO International AG

This release contains inside information related to Gjensidige Forsikring ASA
pursuant to the EU Market Abuse Regulation and is subject to the disclosure
requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.
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Gjensidige Forsikring ASA (“Gjensidige” or the “Company”) has entered into an
agreement with ERGO International AG, managing ERGO Group’s international
business portfolio, for the sale of its subsidiary ADB Gjensidige (“Gjensidige
Baltics”).

Key information

· Sale of 100 per cent of the shares in ADB Gjensidige
· Agreed purchase price of EUR 80 million, representing a price to book
multiple of 2.0 x for ADB Gjensidige, payable fully in cash at closing (the
purchase price at closing to be adjusted for any changes in equity between
signing and closing)
· Closing is subject to, among other things, customary regulatory approvals

Gjensidige’s management will host a conference call for investors and analysts
tomorrow, Friday 26 July 2024, at 10:30 CET. Please find conference call details
below.

“Creating a leading Nordic P&C company is a key priority for me. A strong
commitment to improve profitability and growth in the Nordics has been important
for me from day one. The sale of our Baltic business supports such a strategy
and shows our clear Nordic market focus, which is aligned with our core
competence and capabilities. The divestment of Gjensidige Baltics is a result of
our strategic review. We believe that this transaction creates the best long
-term value for our shareholders and enables us to focus all efforts on our core
markets in the Nordics”, says CEO Geir Holmgren.

The transaction will not have a significant impact on the Gjensidige Group’s
financials and the financial targets for the Group remain unchanged. The
transaction is expected to result in an accounting loss of around NOK 120
million to be recognised in Q3 2024. At the same time, the transaction is
expected to positively impact the Group’s solvency ratio at closing by
approximately 4 percentage points, based on the approved partial internal model
as at 30 June 2024. Going forward ADB Gjensidige will be classified as held for
sale, and the financial accounts for the company will be presented separately in
the statement of financial position.

ADB Gjensidige has 659 employees and offers general insurance products to
private and commercial customers in Lithuania, Latvia and Estonia. Please refer
to Gjensidige Forsikring Group’s Q2 2024 interim report for the latest results
of the Baltic segment, and the Group’s Annual report for 2023 note 11 for
Gjensidige Forsikring ASA for accounting information on ADB Gjensidige. Both
reports are available at www.Gjensidige.com/investor-relations/reports-and
-presentations.

Conference call details:

· Date and time: 26 July 2024, 10:30 CET
· Tel. nos:

• USA: +1 786 697 3501
• Norway: +47 21 56 33 18
• UK: +44 (0) 33 0551 0200
• Other locations: dial one of the numbers above
  · Password: Sommer24

Replay

· Tel. nos:

• USA: 1 866 583 1035
• UK: +44 (0) 20 8196 1480
• Other locations: dial one of the numbers above
  · Confirmation code: 3209107#

This release is issued by Mitra Hagen Negård, Head of Investor Relations at
Gjensidige Forsikring ASA. Date and time of publication: 14:30 CET, 25 July
2024.

Contact persons Gjensidige Forsikring ASA:
Head of Investor Relations, Mitra Hagen Negård, tel. +47 957 93 631
Head of Communication: Øystein Thoresen, Tel: + 47 952 33 382

Gjensidige is a leading Nordic insurance group listed on the Oslo Stock
Exchange. We have about 4,500 employees and offer insurance products in Norway,
Denmark, Sweden and the Baltic states. In Norway, we also offer pension and
savings. The Group’s operating income was NOK 36 billion in 2023, while total
assets were NOK 148 billion.

Kilde

[dagulvin]

Salg av virksomheten i Baltikum kommer veldig overraskende. Lurer på hva tanken er bak dette.

[pleximus83]

Selger unna virksomhet

[TekBot]

Primary insider trade

René Fløystøl, EVP Private in Gjensidige Forsikring ASA, has on 30.07.2024
bought shares in Gjensidige Forsikring ASA. See attachment for further details.

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This information is subject to disclosure under the Norwegian Securities Act
section §5-12.

Contact persons, Gjensidige Forsikring ASA:

Head of Investor Relations Mitra Hagen Negård, Tel: +47 957 93 631

Head of Communication Øystein Thoresen, Tel: +47 952 33 382

Kilde

[TekBot]

GJF, GJF 01: Exercise option to call Subordinated Tier 2 Bond 14/44 (ISIN NO0010720378)

Gjensidige Forsikring ASA will today notify Nordic Trustee of its decision to
exercise the call option to redeem all outstanding bonds with ISIN NO0010720378.
The redemption has been approved by the Financial Supervisory Authority of
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Norway. The outstanding loan amount is NOK 241 million. Following the payment,
no further bonds under the bond issue will be outstanding.

The outstanding bonds will be repaid at a price equal to 100 per cent of the
nominal amount, plus accrued and unpaid interest.

Settlement will take place on 2 October 2024.

This information is published in accordance with the requirements of the
Continuing Obligations.

Contact persons, Gjensidige Forsikring ASA:

Head of Investor Relations Mitra Hagen Negård, Tel: +47 957 93 631

Head of Communication Øystein Thoresen, Tel: +47 952 33 382

Kilde

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Ny rente

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Kilde

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Implementation of merger of Gjensidige and its wholly owned Danish subsidiary Gjensidige Forsikring Tidligere PenSam Forsikring A/S

Reference is made to the announcement on 24 April 2024 regarding the approval of
a merger between Gjensidige Forsikring ASA (“Gjensidige”) and its fully-owned
Danish subsidiary, Gjensidige Forsikring Tidligere PenSam Forsikring A/S
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(“Pensam”). The merger has been approved by the financial supervisory
authorities in both Norway and Denmark, and the merger was implemented today.

This information is subject to disclosure under the Norwegian Securities Act
section § 5-12 and the requirements of Oslo Børs’ Continuing Obligations.

Contact, Gjensidige Forsikring ASA:
Head of Investor Relations Mitra Hagen Negård. Tel: +47 957 93 631
Gjensidige is a leading Nordic insurance group listed on the Oslo Stock
Exchange. We have about 4,500 employees and offer insurance products in Norway,
Denmark, Sweden and the Baltic states. In Norway, we also offer pension and
savings. The Group’s operating income was NOK 36 billion in 2023, while total
assets were NOK 148 billion.

Kilde