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Gjensidige Forsikring ASA (GJFS.OL)

GJFS.OL on Oslo Stock Exchange

143.90NOK
20 Feb 2018
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Latest Key Developments (Source: Significant Developments)

Gjensidige Q3 pretax profit above forecast
Thursday, 26 Oct 2017 01:00am EDT 

Oct 26 (Reuters) - Gjensidige Forsikring Asa :Gjensidige q3 pretax profit nok ‍1.72 bln (Reuters poll nok 1.52 billion).Gjensidige q3 combined ratio ‍81.0​ percent (Reuters poll 84.4 percent).Says large losses were lower than in the third quarter 2016, below the level that is normally expected.The Board remains confident in Gjensidige’s ability to deliver solid earnings and dividend growth over time .Strong underwriting profitability is expected to offset a challenging environment as regards achieving investment returns.Repeats guidance for combined ratio.Says the macroeconomic situation is improving, and the outlook for the Norwegian and Nordic general insurance operations is regarded as good.Says new, profitable opportunities for growth will be considered in the Nordic region and the Baltic states in order to ensure good utilisation of a scalable business model and best practice.  Full Article

Gjensidige Bank in SEK 200 mln bond issue
Friday, 20 Oct 2017 07:38am EDT 

Oct 20 (Reuters) - Gjensidige Forsikring Asa :Gjensidige bank asa: new senior unsecured SEK bond and buy-back in GJEB17.‍gjensidige bank asa today issued SEK 200 million in a new senior bond. Bond has floating interest rate and maturity date 27 october 2022.Gjensidige Bank ASA has at the same time repurchased nominal NOK 230 million in GJEB17 from the market​.  Full Article

Gjensidige Chairman Inge Hansen to step down in 2018
Tuesday, 17 Oct 2017 09:48am EDT 

Oct 17 (Reuters) - Gjensidige Forsikring Asa :Gjensidige forsikring asa: Chairman of the Board Inge K. Hansen do not seek re-election in 2018.‍Hansen has been chairman of board at Gjensidige since 2008​.‍Nomination committee will immediately start process to find Hansen's successor​.  Full Article

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

BRIEF-Gjensidige Forsikring Q4 result and dividend below forecast

* YET ANOTHER YEAR WITH SOLID GROWTH AND PROFITABILITY - THE BOARD PROPOSES DIVIDEND OF NOK 7.10 PER SHARE