Gjensidige Forsikring hosts its Capital Markets Day today at 09:00 CET.
Presentations will be held by Geir Holmgren, Chief Executive Officer of
Gjensidige, and key members of the Group executive management team. The
presentations will provide a review of the Group's strategy and goals, as well
as operational priorities and the Group's strong capabilities.
- I am proud to present new and more ambitious financial targets, and to
confirm sustainability targets in line with the Paris agreement. I am certain
that our strong capabilities will enable us to release the full potential in
Gjensidige, and create more value for our stakeholders, says CEO Geir Holmgren.
-We have strong ambitions for the Group, with an aim to be a leading general
insurance company in the Nordics. We will further strengthen our unique position
in Norway, improve profitability, and seek further growth outside Norway, while
maintaining capital discipline, Holmgren says.
Ambitious financial targets and sustainability goals
Gjensidige has raised the bar further, with an ambitious set of annual Group
financial targets for the next 3 years:
Combined ratio
2024 and 2025: < 84 per cent
2026: < 82 per cent
Cost ratio
2024 and 2025: < 14 per cent
2026: ~ 13 per cent
Return on equity
2024 and 2025: > 22 per cent
2026: > 24 per cent
Solvency ratio
2024-2026: 140 - 190 per cent
Insurance service result, general insurance
2026:
Group > NOK 7.5bn
Denmark > DKK 750m
Gjensidige's attractive dividend policy remains unchanged.
The Group has set goals to contribute to overall sustainability, with focus on
safer society, sustainable claims handling and responsible investments:
· 80 per cent of insurance revenue fulfilling the EU taxonomy requirements by
2026
· Employee survey score: >8 for engagement and perceived diversity
· 55 per cent reduction in CO2e emissions from claims handling processes by
2030
· All suppliers signed Suppliers Code of Conduct
· Net zero emissions from investments by 2050
· All external managers signed UN PRI
Agenda:
The presentations will last approximately 2 hours and 30 minutes and will be
followed by a Q&A session.
· Welcome, by Mitra H. Negård, Head of IR
· Releasing the full potential, by Geir Holmgren, CEO
· Industry trends and strategic direction, Janne Flessum, EVP Strategy and
Group Development
· Enhancing growth and profitability across markets, by René Fløystøl, EVP
Private
· Core is key to future value creation, by Lars Gøran Bjerklund, EVP
Commercial
· Operational excellence and next level customer centricity in Claims, by
Aysegül Cin, EVP Claims
· Delivering attractive returns, by Jostein Amdal, CFO
· Q&A session
The video webcast, presentation material and link to ask questions are available
at Investor Relations - Gjensidige.com (https://www.gjensidige.com/investor
-relations). The presentation material is also attached to this release.
This release contains alternative performance measures (APMs), described at
www.gjensidige.no/group/investor-relations/reports in a document named APMs
Gjensidige Forsikring Group Q3 2023.
Contact persons Gjensidige Forsikring ASA:
Head of Investor Relations: Mitra H. Negård, Tel: +47 957 93 631
Head of Communication: Øystein Thoresen, Tel: + 47 952 33 382
Gjensidige is a leading Nordic insurance group listed on the Oslo Stock
Exchange. We have about 4,200 employees and offer insurance products in Norway,
Denmark, Sweden and the Baltic states. In Norway, we also offer pension and
savings. The Group's operating income was NOK 34 billion in 2022, while total
assets were NOK 135 billion.