July 21, 2017 11:26 AM ET

Insurance

Company Overview of Gjensidige Forsikring ASA

Company Overview

Gjensidige Forsikring ASA operates as a general insurance company in Norway, Denmark, Sweden, Lithuania, Latvia, and Estonia. It operates through six segments: General Insurance Private, General Insurance Commercial, General Insurance Nordic, General Insurance Baltics, Pension and Savings, and the Retail Bank. The company offers various insurance products, including motor vehicles, property, travel/leisure, and accident and health insurance products, as well as insurance products in the areas of liability, agriculture, marine, and transport; and life insurance products. It also provides pension and savings products comprising occupational pensions, private pension savings, and individual dis...

Schweigaardsgate 21

Oslo,  0191

Norway

3,919 Employees

Phone:

47 22 96 80 00

Key Executives for Gjensidige Forsikring ASA

Chief Executive Officer
Age: 57
Total Annual Compensation: 5.9M NOK
Chief Financial Officer and Executive Vice President
Age: 52
Total Annual Compensation: 885.5K NOK
Executive Vice President of Nordic
Age: 47
Total Annual Compensation: 3.4M NOK
Executive Vice President of Commercial
Age: 40
Total Annual Compensation: 3.3M NOK
Executive Vice President of Analytics, Product and Price
Age: 49
Total Annual Compensation: 3.3M NOK
Compensation as of Fiscal Year 2016.

Gjensidige Forsikring ASA Key Developments

Gjensidige Forsikring ASA Announces Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2017

Gjensidige Forsikring ASA announced consolidated earnings results for the second quarter and six months ended June 30, 2017. For the quarter, the company reported total operating income of NOK 6,584.2 million compared to NOK 6,216.0 million a year ago. Profit for the period before tax expense was NOK 1,502.7 million compared to NOK 1,709.3 million a year ago. Total operating income and net income from investments was NOK 7,065.0 million compared to NOK 6,807.1 million a year ago. Profit for the period attributable to owners of the company was NOK 1,095.3 million or NOK 2.19 per basic and diluted share compared to NOK 1,298.0 million or NOK 2.60 per basic and diluted share a year ago. Return on financial assets was 1.0% compared to 1.1% a year ago. For the six months, the company reported total operating income of NOK 13,053.4 million compared to NOK 12,427.7 million a year ago. Profit for the period before tax expense was NOK 2,867.6 million compared to NOK 3,318.2 million a year ago. Total operating income and net income from investments was NOK 14,119.8 million compared to NOK 13,351.1 million a year ago. Profit for the period attributable to owners of the company was NOK 2,206.8 million or NOK 4.41 per basic and diluted share compared to NOK 2,407.4 million or NOK 4.82 per basic and diluted share a year ago. Net cash flow from operating activities was NOK 1,701.6 million compared to NOK 3,149.8 million a year ago. Net payments on acquisition of owner-occupied property, plant and equipment and intangible assets were NOK 179.6 million compared to NOK 71.0 million a year ago.

Gjensidige Forsikring Seeks Acquisitions

Gjensidige Forsikring ASA (OB:GJF) is on the lookout of acquisitions. Jostein Amdal, the Chief Financial Officer and Executive Vice President of the company recently stated, "To sum up. We have a solid capital position in all perspectives. We will continue to balance our capital structure in a disciplined way in order to support the targeted return on equity while at the same time allowing us some leeway for further bolt-on acquisitions and stabilization of dividend."

Gjensidige Forsikring ASA, Q2 2017 Earnings Call, Jul 14, 2017

Gjensidige Forsikring ASA, Q2 2017 Earnings Call, Jul 14, 2017

Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
January 17, 2017
Mølholm Forsikring A/S
Merger/Acquisition
September 30, 2016
Vervet AS
 

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