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Satisfactory first quarter

• Profit before tax: NOK 501 million (NOK 519 million in 2006)• Profit after tax: NOK 437 million (NOK 587 million)• Market leader in general insurance• The industry' most satisfied customers for general insurance• 5000 customers in Gjensidige Bank The Gjensidige Forsikring group, which includes all subsidiaries, achieved a profit before tax of NOK 501 million in the first quarter. This is a slight drop from NOK 519 million in the same period last year. The general insurance business has been affected by more medium and large claims than last year. The combined ratio for the

Gjensidige considers equity instrument

The board of directors in Gjensidige have decided the company will commence a project to prepare the issuing of a listed equity instrument.The purpose is to be able to increase core capital so the company has greater freedom and opportunities to participate in the structural changes affecting the Norwegian financial sector. As well as placing a value on the company, a listing will establish securities that can be used for potential acquisitions. Among other things, the project will involve a valuation of the company as well as other activities that are necessary prior to a listing. At

Another strong year for Gjensidige

· Operating profit: NOK 3.7 billion (NOK 4.1 billion in 2005) · Profit after tax: NOK 3.3 billion (NOK 3.6 billion) · Combined ratio: 94.6 (91.3) The Gjensidige group delivered a strong result for 2006 with a preliminary operating profit of NOK 3.7 billion. The profit for 2005 and 2006 includes accounting gains of NOK 1.3 billion for the sale of shares in DnB NOR. The technical result is somewhat lower than in 2005 as a result of an increase in the number of claims and higher compensation payments. The company expects the insurance business to continue to be highly profitable in

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