Gjensidige Forsikring (GJF) Company presentation summary

Market position and performance

• Holds a leading position in the Nordic general insurance market, with #1 market share in Norway and strong ambitions for growth outside Norway.

• Serves approximately 2 million customers, with around 70% of insurance revenue from Norway and 30% from other Nordic countries.

• Achieved an average ROE of 20% since IPO and a total shareholder return exceeding 1000%.

• Maintains a combined ratio consistently below target, demonstrating strong underwriting and cost discipline.

• Cumulative dividend payments and equity base have shown steady growth since IPO.

Strategic focus and ambitions

• Prioritizes profitability before growth, with a targeted cost ratio of around 13%.

• Focuses on core general insurance business, aiming for sufficient market positions in each Nordic country.

• Seeks to strengthen customer orientation, operational excellence, and alliance partnerships.

• Continuously optimizes the insurance portfolio, prioritizing private and SME segments and direct customer channels.

• Emphasizes underwriting discipline and optimal capital allocation for high returns.

Customer experience and loyalty

• Places the customer at the center, aiming to know and care for them best.

• Operates a unique customer dividend model in Norway, contributing to high loyalty and awareness.

• Achieves high customer satisfaction and retention, with targets to further improve these metrics.

• Invests in technology and analytics to enhance customer experience and operational efficiency.