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Gjensidige (GJF) investor relations material
Gjensidige Pre-close call summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q3 pre-close call reviewed public information, with no new business updates shared.
Q3 results will be released on October 23rd, with consensus published on October 16th.
Q&A session addressed clarifications on large fire event allocation and tier two capital treatment.
Trading performance and revenue trends
Q2 and Q3 typically have lower claims ratios due to seasonality; this quarter saw normal temperatures and no major natural peril events, except for a significant residential fire in Norway.
The fire event's impact is limited to NOK 100 million, covered by reinsurance, and will be reflected in Q3 results.
Q3 2025 had two non-recurring effects: a NOK 429 million negative impact from IT system termination and a NOK 168 million positive impact from a change in revenue recognition.
Profitability and margins
Expected large losses for the year are estimated at NOK 580 million per quarter, but actuals may vary due to randomness.
Reserves continue to be set at best estimate, potentially resulting in run-off gains or losses.
- Q2 2026 saw 33.3% ROE, 189% solvency, and continued strong dividend growth.GJF
Investor presentation - Pension drives scalable, capital-light growth with strong SME focus and ambitious financial targets.GJF
Analyst Day 2026 presentation - Delivers industry-leading returns, high retention, and ambitious growth and ESG targets.GJF
Company presentation - Insurance revenue up 9.3%, return on equity 33.3%, and solvency ratio at 189% in Q2.GJF
Q2 2026 - Profit before tax doubled to NOK 2.25bn, but high claims mean 2024 targets will not be met.GJF
Q3 2024 - Q2 profit rose to NOK 1,830.5m on strong revenue, but high claims in Norway pressured results.GJF
Q2 2024 - Q2 shows stable trends, no major flood events, and ongoing focus on claims inflation and pricing.GJF
Pre-Close Call - Claims cost savings of NOK 812 million achieved two years early, driven by AI and sustainability gains.GJF
Investor Update - Q1 profit before tax surged 58% on strong insurance growth and improved margins.GJF
Q1 2025
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