Gjensidige Forsikring Capital Markets Day 2023: Releasing the full potential
Gjensidige Forsikring hosts its Capital Markets Day today at 09:00 CET. Presentations will be held by Geir Holmgren, Chief Executive Officer of Gjensidige, and key members of the Group executive management team. The presentations will provide a review of the Group's strategy and goals, as well as operational priorities and the Group's strong capabilities.
- I am proud to present new and more ambitious financial targets, and to confirm sustainability targets in line with the Paris agreement. I am certain that our strong capabilities will enable us to release the full potential in Gjensidige, and create more value for our stakeholders, says CEO Geir Holmgren.
-We have strong ambitions for the Group, with an aim to be a leading general insurance company in the Nordics. We will further strengthen our unique position in Norway, improve profitability, and seek further growth outside Norway, while maintaining capital discipline, Holmgren says.
Ambitious financial targets and sustainability goals
Gjensidige has raised the bar further, with an ambitious set of annual Group financial targets for the next 3 years:
Combined ratio
2024 and 2025: < 84 per cent
2026: < 82 per cent
Cost ratio
2024 and 2025: < 14 per cent
2026: ~ 13 per cent
Return on equity
2024 and 2025: > 22 per cent
2026: > 24 per cent
Solvency ratio
2024-2026: 140 - 190 per cent
Insurance service result, general insurance
2026:
Group > NOK 7.5bn
Denmark > DKK 750m
Gjensidige’s attractive dividend policy remains unchanged.
The Group has set goals to contribute to overall sustainability, with focus on safer society, sustainable claims handling and responsible investments:
- 80 per cent of insurance revenue fulfilling the EU taxonomy requirements by 2026
- Employee survey score: >8 for engagement and perceived diversity
- 55 per cent reduction in CO2e emissions from claims handling processes by 2030
- All suppliers signed Suppliers Code of Conduct
- Net zero emissions from investments by 2050
- All external managers signed UN PRI
Agenda:
The presentations will last approximately 2 hours and 30 minutes and will be followed by a Q&A session.
- Welcome, by Mitra H. Negård, Head of IR
- Releasing the full potential, by Geir Holmgren, CEO
- Industry trends and strategic direction, Janne Flessum, EVP Strategy and Group Development
- Enhancing growth and profitability across markets, by René Fløystøl, EVP Private
- Core is key to future value creation, by Lars Gøran Bjerklund, EVP Commercial
- Operational excellence and next level customer centricity in Claims, by Aysegül Cin, EVP Claims
- Delivering attractive returns, by Jostein Amdal, CFO
- Q&A session
The video webcast, presentation material and link to ask questions are available at Investor Relations – Gjensidige.com. The presentation material is also attached to this release.
This release contains alternative performance measures (APMs), described at www.gjensidige.no/group/investor-relations/reports in a document named APMs Gjensidige Forsikring Group Q3 2023.
Contact persons Gjensidige Forsikring ASA:
Head of Investor Relations: Mitra H. Negård, Tel: +47 957 93 631
Head of Communication: Øystein Thoresen, Tel: + 47 952 33 382
Gjensidige is a leading Nordic insurance group listed on the Oslo Stock Exchange. We have about 4,200 employees and offer insurance products in Norway, Denmark, Sweden and the Baltic states. In Norway, we also offer pension and savings. The Group's operating income was NOK 34 billion in 2022, while total assets were NOK 135 billion.