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