Gjensidige acquires Nykredit Forsikring
Gjensidige acquires Danish insurance company Nykredit Forsikring for a consideration of DKK 2.5 billion. As part of the agreement Gjensidige and Nykredit enters into a long term strategic partnership.Through the acquisition, the Gjensidige Gruop will increase the market share in Danish non life insurance business from app. 3 to app. 6 percent. The acquired business has 230.000 customers and gross premium earnings slightly above DKK 1.4 billion. Net profit after tax was DKK 245 million in 2009. With Nykredit Forsikring, the Gjensidige Group’s number of employees will increase by 320