February 27, 2015 5:11 PM ET

Insurance

Company Overview of Gjensidige Forsikring ASA

Company Overview

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

Schweigaardsgate 21

Oslo,  0191

Norway

3,525 Employees

Phone:

47 22 96 80 00

Key Executives for Gjensidige Forsikring ASA

Chief Executive Officer
Age: 54
Total Annual Compensation: $5.5M
Chief Financial Officer and Executive Vice President of Finance
Age: 46
Total Annual Compensation: $3.0M
Executive Vice President of Strategy and M&A
Age: 37
Total Annual Compensation: $3.0M
Executive Vice President of Claims
Age: 43
Total Annual Compensation: $2.7M
Executive Vice President of International General Insurance
Age: 44
Total Annual Compensation: $2.7M
Compensation as of Fiscal Year 2013.

Gjensidige Forsikring ASA Key Developments

Gjensidige Forsikring Mulls Acquisition

Gjensidige Forsikring ASA (OB:GJF) is seeking acquisitions. Catharina Hellerud, Chief Financial Officer of Gjensidige Forsikring ASA, said in Gjensidige Forsikring earnings call, “Well you're right to start in the other direction. We have the strategic buffer in place to be able to do these bolt-on acquisitions. And you know that we are operating in very consolidated markets, both in the Nordic markets and as well as in the Baltics, and then we have this opportunity. We allocated part of the strategic buffer to this acquisition, in line with what we have said about where we want to use the strategic buffer.”

Gjensidige Insurance Group Announces Consolidated Group Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014

Gjensidige Insurance Group announced consolidated group earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company total operating income was NOK 6,044.5 million against NOK 5,396.5 million a year ago. Profit before tax was NOK 1,159 million compared to NOK 1,283.1 million a year ago. Profit for the period was NOK 964.1 million compared to NOK 1,134.5 million a year ago. Basic and diluted earnings per share were NOK 1.93 compared to NOK 2.27 a year ago. Earned premiums from general insurance was NOK 5,214.4 million compared to NOK 4,766.3 million a year ago. For the nine months, the company total operating income of NOK 23,098.7 million against NOK 20,884.5 million a year ago. Profit before tax was NOK 5,399.6 million compared to NOK 4,574.1 million a year ago. Profit for the period was NOK 4,189.6 million compared to NOK 3,670.6 million a year ago. Basic and diluted earnings per share were NOK 8.38 compared to NOK 7.34 a year ago. Net cash flow from operating activities NOK 3,428.3 million against net cash used in operating activities of NOK 1,127.7 million a year ago. Earned premiums from general insurance was NOK 20,386.8 million compared to NOK 18,736.9 million a year ago. Return on equity, annualised was 23.3% compared to 18.3% a year ago.

Gjensidige Forsikring ASA, Q4 2014 Earnings Call, Feb 04, 2015

Gjensidige Forsikring ASA, Q4 2014 Earnings Call, Feb 04, 2015

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