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Gjensidige expands in the Baltic countries

Gjensidige has signed a letter of intent to take over Länsförsäkringar’s activities in Latvia and Lithuania.“Gjensidige is already well established in the Baltic countries with sound and profitable operations and has ambitions of growing further in this market. Länsförsäkringar’s operations are a good fit with our Baltic strategy,” says Dace Brumziede, managing director of Gjensidige Baltic. Gjensidige’s plan is to expand its operations further under the Gjensidige brand. Länsförsäkringar established operations in the two countries in 2007, achieving earned premiums of SEK 50 million in

First quarter 2009: Good results from general insurance

The Gjensidige Forsikring group achieved a pre-tax profit for Q1 of NOK 296.3 million, compared to a loss of NOK 497.3 million for the same period in 2008.· Continued good underwriting results in general insurance business: NOK 97.4 million for the quarter (NOK 77.5 million for the corresponding period 2008) · Good cost performance: 17.9% (18.2) · Significantly improved financial result: NOK 281.0 million (minus NOK 498.7 million) · Result before tax: NOK 296.3 million (minus NOK 497.3 million)   The positive result is due to a combination of good general insurance profits,

Q4 and provisional annual result 2008

The Gjensidige Forsikring Group reported a loss before tax for the fourth quarter of NOK 653 million compared with a profit of NOK 645 million for the same period in 2008. For the year as a whole, the profit before tax amounted to NOK 307 million (NOK 3,020 million in 2007).Good growth in premiums: 2.4 percent growth in earned premiums for the quarter and 4.3 percent growth in 2008 as a whole • Positive underwriting result for general insurance: NOK 167 million for the quarter and NOK 860 million for 2008• Net financial result: Minus NOK 737 million for the quarter and minus NOK 220

Third quarter 2008: Good results

The Gjensidige Insurance Group had a profit before tax in the third quarter of NOK 1,199.3 million, compared with NOK 843.3 million in the same period a year ago.· Profit before tax: NOK 1,199.3 million (NOK 843.3 million in 2007) · 5.3 per cent growth in the quarter in earned premiums, net of reinsurance, in general insurance · Underwriting result: NOK 345.5 million (NOK 432.5 million) · Combined ratio in general insurance operations: 91.5 (88.4) · Net financial income: NOK 938.2 million (NOK 502.6 million) The cost trend continues to be positive The Gjensidige Insurance

Second quarter 2008: Continued sound insurance profits

The Gjensidige Insurance Group reported a result before tax of NOK 259 million in the second quarter, compared with NOK 1,031 million in the same period of the previous year. The decline is mainly due to the drop in net financial income with negative performance in property investments and a further write-down of the investment in Storebrand ASA.· Growth in earned premiums of 6.5 per cent in the quarter for general insurance · Underwriting result: NOK 270 million (NOK 101 million in second quarter 2007) · Profit before tax: NOK 259 million (NOK 1,031 million) · Combined ratio in

First quarter 2008: Solid earnings improvement in general insurance

· Earnings improvement of NOK 278 million in general insurance · Combined ratio in general insurance operations in the quarter: 97.9% (105.6% in 2007) · Loss before tax in the quarter: NOK 497 million (profit of 501 million in 2007) · Positive tax ruling resulting in reversal of tax provision of NOK 180 million in tax payable and NOK 584 million in deferred tax · Profit after tax of NOK 254 million NOK 1,021 million in dividend approved by the General Meeting Gjensidige Insurance Group posted a loss before tax in the first quarter of NOK 497 million, compared with a profit of

Fourth quarter 2007: Solid premium growth

· Profit before tax in fourth quarter: NOK 645 million · Preliminary profit before tax for the year: NOK 3,020 million · Combined ratio for general insurance operations for the quarter: 94.1 (93.7 in 2006) · Planned stock exchange listing of Gjensidige's Equity Capital Certificate in 2008 Gjensidige Insurance Group reported a profit before tax of NOK 645 million for the fourth quarter. The group reported a profit of NOK 1,999 million for the same quarter in 2006, which included a gain of NOK 1,285 million related to the sale of shares in DnB NOR. Preliminary figures for the year

Gjensidige buys new company in the Baltic region

In order to strengthen its position in the Baltic region, Gjensidige has entered into an agreement to buy RESO Europa, a Lithuanian insurance company.Gjensidige Baltic, which from 1 January is the new name of Parex insurance, bought by Gjensidige in 2006, will take over all shares in RESO Europa. RESO Europa has its headquarters in Lithuania, but also has businesses in Latvia and Poland. In Lithuania, the company has a market share of approximately five per cent and is the sixth largest insurance company in the country. The acquisition is a continuation of Gjensidige's strategy of

Third quarter 2007: Good results – solid premium growth

· Profit before tax: NOK 843 million (NOK 981 million in 2006) · Combined ratio for general insurance operations in third quarter: 88.5% (90.0%) · Positive development in general insurance operations in the quarter · Return on investment: 1.0 per cent (1.6) · Work on stock exchange listing continues · Strongest brand in the insurance industry Gjensidige Insurance Group reported consolidated profit before tax of NOK 843 million in the third quarter, compared with NOK 981 million for the corresponding period last year. The result reflects somewhat lower return on investment

Second Quarter 2007 Strong earnings improvement – good financial results

• Profit before tax: NOK 1,031 million (NOK 604 million in 2006) • Combined ratio: 98.1 (93.6)• Return on investment: 9.0 per cent (1.6)• Work on a possible listing of primary capital certificates continues• Tennant Insurance Group AB in Sweden acquired in May Gjensidige Forsikring Group – which includes all the subsidiaries – reported a profit before tax of NOK 1,031 million in the second quarter, compared with NOK 604 million for the corresponding period last year. The profit before tax year to date was NOK 1,532 million, compared with NOK 1,251 million last year. The general

Gjensidige acquires Tennant

Gjensidige has entered into an agreement concerning the acquisition of Swedish general insurance company Tennant Insurance Group AB, including its subsidiary Tennant Forsäkring AB, which operates in both Sweden and Norway.Subject to approval by the authorities, Gjensidige will take over all shares in Tennant, whose largest owners are Holta Invest (49%) and companies associated with the Höegh group (25%).   The acquisition is part of Gjensidige's strategy of expanding its general insurance activities in the Nordic region, and offers a way into the Swedish market. It also lays further

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