Gjensidige (GJF) Investor presentation summary

Position and performance

• ~2m customers and NOK44.7bn insurance revenue for R12m Q3 2026; market leader in Norway with broad Nordic presence.

• Total shareholder return exceeded 1,000% since the 2010 IPO; high customer retention and the Norwegian customer-dividend model support loyalty.

• 2025 market sizes: Norway NOK105bn, Denmark DKK76bn and Sweden SEK106bn; the markets are highly digitalised and have strong customer loyalty.

Platform and growth priorities

• Broad Nordic presence, integrated journeys across insurance and pension, strong brand, data-driven processes, AI capabilities and a solid capital position underpin the platform.

• Growth focus: general insurance across the Nordics and pension in Norway; priorities include selective growth, broader customer needs and capital efficiency.

• Mobility plans build on partner networks, Flyt and REDGO; property priorities include housing-journey offerings and commercial concepts, while life, health and pension leverage existing distribution.

• Technology priorities include simplifying IT, amplifying data, accelerating automation and AI, and improving distribution efficiency, pricing precision and cost leadership.

2028 financial ambitions

• Targets: combined ratio <81%, cost ratio ~12%, ROE >28%, solvency ratio 140–190% and GI insurance service result >NOK10bn in 2028.

• Growth drivers include customer satisfaction >78, retention >90% in Norway and >86% in Denmark, and digital distribution index growth of 5–10% annually.

• Distribution efficiency targets are >20% in Private and >12% in Commercial; claims savings target NOK600m and straight-through claims processing in Norway 55%.

• Segment plans combine pricing at least in line with claims, claims-programme delivery and cost efficiency with pension growth, operational improvements and selective Nordic expansion.