OSLO May 14 Gjensidige, Norway's
biggest non-life insurer, reported second-quarter earnings in
line with expectations on Wednesday and said its medium term
financial targets were unchanged as it has substantial financial
buffers and handles competition well.
The firm's pre-tax profit more than doubled to 1.16 billion
crowns ($196 million), in line with expectations for 1.15
billion crowns in a Reuters poll of analysts.
However, its combined ratio at 92.9 was above expectations
for 91.3 but the firm said it continued to target the combined
ratio between 90 and 93 over time.
It also said its return on equity target after tax expense
remained 15 percent with effect from 2015.
(Reporting by Balazs Koranyi)