Insurer Gjensidige's Q2 earnings ahead of expectations

OSLO, July 15 Tue Jul 15, 2014 1:22am EDT

OSLO, July 15 (Reuters) - Gjensidige, Norway's biggest non-life insurer, reported second-quarter results that beat forecasts on Tuesday and said its capital situation was good.

The firm's pre-tax profit rose to 1.75 billion crowns ($283.23 million), against 1.08 billion crowns at the same time a year earlier, beating expectations for 1.39 billion crowns in a Reuters poll of analysts.

Its combined ratio, which measures general insurance costs and claims as a percentage of premiums, dropped to 81.2, against expectations for 86.8 in a Reuters poll, from 90.3 in the year-ago period.

($1 = 6.1788 Norwegian Kroner) (Reporting by Gwladys Fouche, editing by Ole Petter Skonnord)

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