January 21, 2017 11:48 AM ET

Insurance

Company Overview of Gjensidige Forsikring ASA

Company Overview

Gjensidige Forsikring ASA operates as a general insurance company in Norway, Sweden, Denmark, Latvia, Lithuania, and Estonia. 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, aquaculture, marine, and transport; and life insurance products. It also provides pension and savings products comprising group occupational pensions, individual pensions, indivi...

Schweigaardsgate 21

Oslo,  0191

Norway

3,990 Employees

Phone:

47 22 96 80 00

Key Executives for Gjensidige Forsikring ASA

Chief Executive Officer
Age: 56
Total Annual Compensation: 5.8M NOK
Executive Vice President of Nordic
Age: 46
Total Annual Compensation: 3.4M NOK
Executive Vice President of Commercial
Age: 39
Total Annual Compensation: 3.2M NOK
Executive Vice President of Analytics, Product and Price
Age: 48
Total Annual Compensation: 3.2M NOK
Executive Vice President of Claims
Age: 45
Total Annual Compensation: 3.0M NOK
Compensation as of Fiscal Year 2015.

Gjensidige Forsikring ASA Key Developments

Cecilie Ditlev-Simonsen to Leave Gjensidige as Executive Vice President in Charge of Brand, Communications and Marketing

Cecilie Ditlev-Simonsen has decided to resign her position after five years as Executive Vice President in charge of brand, communications and marketing at Gjensidige.

Gjensidige Forsikring ASA Announces Dividend Payable on November 10, 2016

Gjensidige Forsikring ASA announced dividend of NOK 4 per share payable on November 10, 2016, to the shareholders of record as on November 2, 2016. The ex-dividend date is November 1, 2016.

Gjensidige Insurance Group Reports Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2016

Gjensidige Insurance Group reported consolidated earnings results for the third quarter and nine months ended September 30, 2016. For the quarter, on consolidated basis the company reported profit before tax expense was NOK 1,515.9 million against NOK 951.7 million a year ago. Total operating income was NOK 6,524.2 million against NOK 6,157.7 million a year ago. Profit attributable to owners of the company was NOK 1,171.9 million against NOK 594.7 million a year ago. Basic and diluted earnings per share was NOK 2.34 against NOK 1.19 a year ago. For the nine months, on consolidated basis, the company reported profit before tax expense was NOK 4,834.1 million against NOK 3,579.2 million a year ago. Total operating income was NOK 18,951.9 million against NOK 17,829.2 million a year ago. Net cash flow from operating activities was NOK 1,511.2 million against net cash used in operating activities of NOK 1,510.1 million a year ago. Net payments on acquisition of owner-occupied property, plant and equipment were NOK 73.5 million against NOK 79.2 million a year ago. Profit attributable to owners of the company was NOK 3,579.3 million against NOK 2,538.0 million a year ago. Basic and diluted earnings per share was NOK 7.15 against NOK 5.08 a year ago. For the quarter, the company reported total earned premiums, net of reinsurance was NOK 5,430.8 million against NOK 5,319.3 million a year ago. Total net income from investments was NOK 635.1 million against loss of NOK 397.5 million a year ago. Total comprehensive income was NOK 899.8 million against NOK 556.9 million a year ago. Profit before tax expense was NOK 1,340.9 million against NOK 660.3 million a year ago. For the nine months, the company reported total earned premiums, net of reinsurance was NOK 15,941.9 million against NOK 15,355.1 million a year ago. Total net income from investments was NOK 1,524.0 million against NOK 558.0 million a year ago. Total comprehensive income was NOK 2,944.0 million against NOK 2,540.2 million a year ago. Profit before tax expense was NOK 4,510.9 million against NOK 3,097.7 million a year ago.

Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
January 17, 2017
Mølholm Forsikring A/S
Merger/Acquisition
September 30, 2016
Vervet AS
Buyback
May 2, 2016
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