April 25, 2018 / 5:09 AM / 3 months ago

BRIEF-Norway's Gjensidige Q1 result below forecast

April 25 (Reuters) - Gjensidige Forsikring ASA:

* GJENSIDIGE Q1 PRETAX PROFIT NOK 726.8 MILLION (REUTERS POLL NOK 997 MILLION)

* GJENSIDIGE Q1 COMBINED RATIO 93.0 PERCENT (REUTERS POLL 89.8 PERCENT)

* RESULTS WERE SIGNIFICANTLY IMPACTED BY DEMANDING WEATHER CONDITIONS IN NORWAY AND HIGH VOLATILITY IN FINANCIAL MARKETS

* WEATHER-RELATED FREQUENCY CLAIMS IN QUARTER OF 2018 ARE ESTIMATED TO HAVE BEEN NOK 250-300 MILLION HIGHER THAN FOR HISTORICAL Q1 AVERAGE IN NORWAY

* SAYS CONTINUED EFFORTS TO MAINTAIN AND FURTHER STRENGTHEN GJENSIDIGE’S POSITION IN THE NORWEGIAN MARKET WILL BE PRIORITISED, WITH PARTICULAR FOCUS ON ENSURING COST-EFFICIENCY AND IMPROVING DIGITAL CUSTOMER EXPERIENCES

* AT THE SAME TIME, NEW, PROFITABLE OPPORTUNITIES FOR GROWTH WILL BE CONSIDERED IN THE NORDIC REGION AND THE BALTIC STATES Source text for Eikon: Further company coverage: (Reporting By Camilla Knudsen)

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