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Gjensidige Forsikring ASA (GJFS.OL)

GJFS.OL on Oslo Stock Exchange

134.80NOK
18 Aug 2017
Change (% chg)

kr0.20 (+0.15%)
Prev Close
kr134.60
Open
kr134.60
Day's High
kr135.20
Day's Low
kr134.40
Volume
321,287
Avg. Vol
437,982
52-wk High
kr158.50
52-wk Low
kr126.20

Latest Key Developments (Source: Significant Developments)

Gjensidige q2 result below forecast
Friday, 14 Jul 2017 01:00am EDT 

July 14 (Reuters) - Gjensidige Forsikring Asa :Gjensidige q2 pretax profit nok 1,503 million (Reuters poll nok 1.59 billion) vs 1,709 mln in Q2 2016.Gjensidige q2 combined ratio 85.0 percent (Reuters poll 82.8 percent) vs 79 pct in Q2 2016.  Full Article

Gjensidige wins FSA approval to acquire own shares
Monday, 12 Jun 2017 02:45am EDT 

June 12 (Reuters) - Gjensidige Forsikring Asa :FSA approval to acquire own shares.Reference is made to the authorization to acquire own shares in the market corresponding to up to 5 per cent of the share capital granted by the General Meeting on 6 April 2017.The Norwegian FSA has approved the authorization however contingent upon the group solvency margin (standard formula) not falling below 140 percent.  Full Article

BRIEF-Gjensidige Q1 pretax profit beats forecast
Thursday, 4 May 2017 01:00am EDT 

Rpt with no changes to text:Gjensidige q1 pretax profit nok 1,365 million (Reuters poll nok 1.24 billion).Gjensidige q1 combined ratio 86.8 percent (Reuters poll 88.5 percent).Adjusted for a one-off related to pension payments of nok 476.6 million, underwriting result in q1 2016 was a record-strong nok 774.1 million, corresponding to a combined ratio of 86.0.Remains confident in gjensidige’s ability to deliver solid earnings and dividend growth over time..Repeats target for combined ratio at the lower end of the target corridor of 90–93 (undiscounted and given zero run-off effects) and sees average annual run-off gains the next 3-5 years of around NOK 900 million, moving the expected reported combined ratio to the lower end of the 86-89 corridor (undiscounted).Says although the macroeconomic situation is still somewhat challenging, the outlook for the Norwegian and Nordic general insurance operations is still regarded as good. .  Full Article

Gjensidige Q1 pretax profit beats forecast
Thursday, 4 May 2017 01:00am EDT 

May 4 (Reuters) - Gjensidige Forsikring Asa :Gjensidige q1 pretax profit nok 1,365 million (Reuters poll nok 1.24 billion).Gjensidige q1 combined ratio 86.8 percent (Reuters poll 88.5 percent).Adjusted for a one-off related to pension payments of nok 476.6 million, underwriting result in q1 2016 was a record-strong nok 774.1 million, corresponding to a combined ratio of 86.0.Remains confident in gjensidige’s ability to deliver solid earnings and dividend growth over time..Repeats target for combined ratio at the lower end of the target corridor of 90–93 (undiscounted and given zero run-off effects) and sees average annual run-off gains the next 3-5 years of around NOK 900 million, moving the expected reported combined ratio to the lower end of the 86-89 corridor (undiscounted).Says although the macroeconomic situation is still somewhat challenging, the outlook for the Norwegian and Nordic general insurance operations is still regarded as good. .  Full Article

Gjensidige board member bought 3,500 shares
Friday, 10 Feb 2017 07:31am EST 

Gjensidige Forsikring Asa :John Giverholt, board member in Gjensidige Forsikring asa, has today bougt 3,500 shares in Gjensidige at nok 134.20 per share.  Full Article

Insurer Gjensidige's Q4, dividend lag
Thursday, 9 Feb 2017 01:00am EST 

Gjensidige Forsikring Asa : Q4 combined ratio 87.7 percent (Reuters poll 86.0 percent) . Q4 pretax profit NOK 1,305 million (Reuters poll nok 1.49 billion) . proposes 2016 dividend of nok 6.80 per share (Reuters poll 10.7 crowns per share) . Says the lower underwriting result in Q4 2016 vs Q4 2015 was partly driven by a more normal weather situation and consequently more normal overall frequency claims levels . Says one-offs related to restructuring and payroll tax provision had a negative effect on the underwriting result of NOK 66.9 million .Says a lower level of large losses and higher run-off gains contributed positively to the result development.  Full Article

Gjensidige sold its SR-Bank shares at NOK 61 each
Thursday, 19 Jan 2017 01:55am EST 

Gjensidige Forsikring Asa : Sold 10 million shares in Sparebank 1 SR-Bank . Offer was significantly oversubscribed. Shares were sold at a price of nok 61.00 per share vs Jan 18 close of NOK 62 . Following sale, Gjensidige holds 2,308,416 shares equal to 0.9 per cent of share capital . Arctic securities and Pareto securities acted as bookrunners on transaction .Remaining position will be managed as a pure financial investment in gjensidige's investment portfolio.  Full Article

Gjensidige executive Cecilie Ditlev-Simonsen resigns
Monday, 31 Oct 2016 05:30am EDT 

Gjensidige : Cecilie Ditlev-Simonsen has decided to resign her position after five years as Executive Vice President in charge of brand, communications and marketing . CEO Helge Leiro Baastad regrets Ditlev-Simonsen's resignation but says he understands her decision to pursue new career opportunities .The areas that Ditlev-Simonsen has been responsible for will be divided among Group General Services (Communications), Private Norway (Brand, Marketing and Sponsorships) and Technology and Development (Portal).  Full Article

Gjensidige Q3 pretax lags forecast, announces dividend payment
Wednesday, 26 Oct 2016 01:18am EDT 

Gjensidige : Q3 pretax profit nok 1,515.9 million (Reuters poll nok 1.62 billion) . Q3 combined ratio 87.5 percent (Reuters poll 82.9 percent) . The Board has decided to distribute excess capital in the amount of NOK 2,000 million, corresponding to NOK 4.00 per share . Says the lower underwriting result in the quarter was partly driven by a provision of NOK 120 million to cover one-time restructuring costs related to the reduction of about 190 full-time equivalent positions in staff and support functions . Repeats over the next 2-4 years, average annual run-off gains are expected to be around NOK 800 million, moving the expected reported combined ratio to the lower end of the 86-89 corridor (undiscounted) . Competition is still increasing in the Norwegian general insurance market, partly driven by a more challenging macroeconomic environment, which is resulting in limited growth . The growth rate is expected to remain low in the short to medium term . New, profitable opportunities for growth will be considered in the Nordic region and the Baltic states, leveraging the Group's scalable business model and best practice .Strong emphasis will also be placed on further developing cooperation with partners and distributors.  Full Article

Gjensidige sells 14,500,000 shares in SpareBank1 SR
Wednesday, 12 Oct 2016 02:29am EDT 

SpareBank 1 SR Bank ASA : Gjensidige has sold 14,500,000 shares in SB1 SR-bank, representing 5.67 per cent of share capital by way of an accelerated bookbuilding process .Shares were sold at a price of 46.00 Norwegian crowns per share.  Full Article

BRIEF-Gjensidige q2 result below forecast

* Gjensidige q2 pretax profit nok 1,503 million (Reuters poll nok 1.59 billion) vs 1,709 mln in Q2 2016