Gjensidige forsikring (GJF)

TekBot · september 10, 2024, 12:36pm

Ny rente

TekBot · september 26, 2024, 11:59am

Ny rente

TekBot · oktober 2, 2024, 11:40am

Invitation to the presentation of Gjensidige’s results for the 3rd quarter 2024

Gjensidige Forsikring (OSE:GJF) will publish the results for the 3rd quarter
2024 on 22 October at 7.00 CET.

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22 October (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 21 56 33 18

UK/ Europe: +44 (0) 33 0551 0200

USA: +1 786 697 3501

Other locations: Please choose one of the above.

Password: GjensidigeQ3

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 18 October.
Please specify if the attendance would be in person at Gjensidige’s head office,
Schweigaards gate 21 in Oslo or virtually. For virtual 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

TekBot · oktober 3, 2024, 11:24am

Ny rente

TekBot · oktober 3, 2024, 11:26am

Ny rente

TekBot · oktober 22, 2024, 5:01am

Higher insurance service result driven by revenue growth

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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The third quarter showed continued strong revenue growth as well as high claims
levels for property and private motor insurance in Norway. Targeted measures
will gradually improve the underlying profitability. Results from the investment
portfolios and the pension business contributed to an annualised return on
equity of 23.5 per cent. Due to the insurance service result year-to-date, the
Group does not expect to deliver on the combined ratio target for 2024. All the
financial targets for 2025 and 2026 are maintained.

Highlights Third quarter Year-to-date
2024 2023 2024 2023
Group
Profit or loss before NOK million 2,214.6 1,115.0 5,095.2 3,929.7
tax
Earnings per share NOK 3.32 1.63 7.63 5.93
General Insurance
Insurance revenue NOK million 9,888.8 8,853.1 28,340.5 25,588.9
Insurance service NOK million 1,590.0 1,111.6 3,716.7 3,735.4
result
Combined ratio Per cent 83.9% 87.4% 86.9% 85.4%
Cost ratio Per cent 11.8% 16.6% 12.3% 14.1%
Financial result NOK million 1,306.5 114.5 2,250.5 689.3
Solvency ratio, Per cent 164% 185%
approved Partial
Internal Model

-Claims cost in Norway continues to increase, both within property and motor
insurance. It is encouraging to see that we manage to deliver solid revenue
growth and that our customer loyalty remains high, says CEO Geir Holmgren.

General insurance

Insurance revenue increased by 11.7 per cent to NOK 9,888.8 million (8,853.1) in
the quarter, or by 10.6 per cent measured in local currency. This was mainly
driven by effective and differentiated pricing measures and solid renewals.

The insurance service result increased by 43.0 per cent. The increase was driven
by a lower cost ratio and higher insurance revenue. Operating expenses in the
third quarter 2023 were significantly impacted by one-off expenses of NOK 409.0
million.

The loss ratio in the third quarter 2024 increased by 1.3 percentage points,
reflecting a higher underlying frequency loss ratio, lower run-off gains, a
change in risk adjustment and a lower discounting effect. Large losses were
lower than the same quarter last year. For comparison, the Group recognised
weather-related claims costs of NOK 558.1 million in the third quarter last
year, of which NOK 35.0 million as frequency losses. Adjusted for this the
underlying frequency loss ratio increased by 2.3 percentage points. The
deterioration was primarily driven by private and commercial property and
accident and health insurance in Norway and private motor insurance in Norway
and Denmark.

Pension

The pension segment recorded a profit before tax expense of NOK 123.8 million
(3.9), driven by an increase in net finance income and increased income from the
unit linked business.

Financial result

The financial result for the quarter was NOK 1,306.5 million (114.5), which
corresponds to a return on total assets of 2.1 per cent (0.2). The result for
the quarter was positively impacted by high running yields, falling interest
rates, lower credit spreads and positive equity markets.

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, 22 October 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 · oktober 22, 2024, 5:01am

Høyere forsikringsresultat drevet av inntektsvekst

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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Tredje kvartal viste fortsatt sterk inntektsvekst samt høye skadekostnader for
eiendom og privat motorforsikring i Norge. Målrettede tiltak vil gradvis bedre
den underliggende lønnsomheten. Resultater fra investeringsporteføljene og
pensjonsvirksomheten bidro til en annualisert egenkapitalavkastning på 23,5
prosent. På grunn av forsikringsresultatet hittil i år, forventer ikke konsernet
å levere på combined ratio-målet for 2024. Alle de finansielle målene for 2025
og 2026 opprettholdes.

Høydepunkter Tredje kvartal Hittil i år
2024 2023 2024 2023
Konsern
Resultat før skatt Mill. NOK 2 214,6 1 115,0 5 095,2 3 929,7
Resultat per aksje NOK 3,32 1,63 7,63 5,93
Skadeforsikring
Forsikringsinntekter Mill. NOK 9 888,8 8 853,1 28 340,5 25 588,9
Forsikringsresultat Mill. NOK 1 590,0 1 111,6 3 716,7 3 735,4
Combined ratio Prosent 83,9% 87,4% 86,9% 85,4%
Kostnadsandel Prosent 11,8% 16,6% 12,3% 14,1%
Finansresultat Mill. NOK 1 306,5 114,5 2 250,5 689,3
Solvensmargin, Prosent 164% 185%
godkjent partiell
internmodell

-Skadekostnadene i Norge fortsetter å øke, både innen eiendoms- og
motorforsikring. Det er gledelig å se at vi klarer å levere solid inntektsvekst,
og at vår kundelojalitet fortsatt er høy, sier konsernsjef Geir Holmgren.

Skadeforsikring

Forsikringsinntektene økte med 11,7 prosent til 9 888,8 millioner kroner (8
853,1) i kvartalet, eller med 10,6 prosent målt i lokal valuta. Dette var
hovedsakelig drevet av effektive og differensierte pristiltak og solide
fornyelser.

Forsikringsresultatet økte med 43,0 prosent. Økningen var drevet av lavere
kostnadsandel og høyere forsikringsinntekter. Driftskostnadene i tredje kvartal
2023 ble betydelig påvirket av engangskostnader på 409,0 millioner kroner.

Skadeprosenten i tredje kvartal 2024 økte med 1,3 prosentpoeng, noe som
reflekterer høyere underliggende frekvensskadeprosent, lavere
avviklingsgevinster, endret risikojustering og lavere diskonteringseffekt.
Storskadekostnader var lavere enn samme kvartal i fjor. Til sammenligning
bokførte konsernet værrelaterte skadekostnader på 558,1 millioner kroner i
tredje kvartal i fjor, hvorav 35,0 millioner kroner som frekvensskader. Justert
for dette økte den underliggende frekvensskadeprosenten med 2,3 prosentpoeng.
Svekkelsen var i hovedsak drevet av eiendomsforsikring og ulykkes- og
helseforsikring i Privat og Commercial i Norge og Privat motorforsikring i Norge
og Danmark.

Pensjon

Pensjonssegmentet fikk et resultat før skatt på 123,8 millioner kroner (3,9),
drevet av økte netto finansinntekter og økte inntekter fra unit linked.

Finansresultat

Finansresultatet for kvartalet ble 1 306,5 millioner kroner (114,5), som
tilsvarer en avkastning på 2,1 prosent (0,2). Resultatet for kvartalet ble
positivt påvirket av høye løpende renter, fallende rentenivå, lavere
kredittspreader og positive aksjemarkeder.

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, 22. oktober 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 · oktober 23, 2024, 6:58pm

Acquisition of own shares / primary insider trades

On 23 October 2024, DNB acquired a total of 99 291 shares in Gjensidige
Forsikring ASA (“Gjensidige” or the “Company”, OSE:GJF, LEI
5967007LIEEXZX6FAO47, ISIN NO0010582521) on behalf of the Company. 79 908 shares
…

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have been sold to employees at a price of NOK 200.00 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 third quarter 2024
is now complete.

Primary insiders in Gjensidige have on 23 October 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 third quarter of 2024 in
connection with the share savings scheme, Gjensidige will own 50 916 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 · oktober 28, 2024, 6:58am

Gjensidige Forsikring ASA: Contemplating Subordinated Tier 2 bond issue

Gjensidige Forsikring ASA (“Gjensidige” or “the Company”, OSE: GJF, LEI
5967007LIEEXZX6FAO47), rated A by S&P (stable), has mandated DNB Markets and
Nordea Bank Abp as Joint Lead Managers to arrange a digital fixed income
…

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investor meeting on Monday 28 October 2024.

The company contemplates to issue a new Tier 2 bond issue in NOK with floating
interest rate. The issuance may be split in one or more tranches, and each
tranche will have a minimum 30-year tenor, and the issuer will have a first call
option after minimum 5 years. Expected issue size is up to NOK 900 million,
subject to market conditions. The Tier 2 bond issue will be Solvency II
compliant and is expected to be rated BBB+ by S&P.

The contemplated bond issue is authorised by the Company’s General Meeting and
approved by the Norwegian Financial Supervisory Authority.

For further information, please contact:
Mitra Hagen Negård, Head of Investor Relations, tel. +47 957 93 631

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

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 · oktober 29, 2024, 1:00pm

Gjensidige Forsikring ASA: Successful issuance of Subordinated Tier 2 capital

With reference to the announcement dated 28 October 2024, Gjensidige Forsikring
ASA (“Gjensidige”), rated A by S&P (stable), has today successfully completed
issuance of a NOK 900 million Subordinated Tier 2 bond issue, which was
…

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significantly oversubscribed. The Subordinated Tier 2 bond will have a floating
rate coupon equal to 3 months NIBOR + 1.45% p.a. and have a tenor of 30-years
with a first call option for Gjensidige after 5.75 years. Expected issue rating
is BBB+ by S&P.

The Tier 2 issue is Solvency II compliant, and the issuance has been authorised
by Gjensidige’s General Meeting and approved by the Norwegian Financial
Supervisory Authority.

Settlement of the bonds is expected to be 5 November 2024, and the bonds will be
applied for listing on Euronext Oslo Børs.
DNB Markets and Nordea acted as joint lead arrangers.

For further information, please contact:
Mitra Hagen Negård, Head of Investor Relations, tel. +47 957 93 631

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

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 · oktober 30, 2024, 12:45pm

S&P assigns ‘BBB+’ rating to the Tier 2 bond issued on 29 October

TekBot · november 15, 2024, 11:11am

GJF: Granted approval from the FSA for windstorm risk model in Partial Internal Model

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 and Gjensidige Forsikring Group are granted approval
from the Financial Supervisory Authority of Norway (FSA) for the modelling of
windstorm risk in the Partial Internal Model (PIM). The change will reduce the
capital requirement in the approved PIM by approximately NOK 1.3 billion. Based
on the approved Partial Internal Model as of 30. September 2024, the Solvency II
ratio for Gjensidige Forsikring Group including the approved change mentioned
above and the Tier 2 loan issued on 29 October 2024 would be 185 per cent.

This release is issued by Mitra Hagen Negård, Head of Investor Relations at
Gjensidige Forsikring ASA. Date and time of publication: 12:08 CET, 15 November
2024.

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

Kilde

TekBot · november 26, 2024, 1:49pm