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