GJF, GJF01, GJF03, GJF04: S&P affirms A ratings on Gjensidige and revises outlook to stable; BBB+ rating on tier 2 debt and BBB rating on restricted tier 1 subordinated debt affirmed

S&P affirms ratings on Gjensidige and its listed bonds. Outlook revised to stable from positive as S&P expects that management will seek to maintain flexibility and thus not commit to holding capital beyond its targeted A level over the next two to three years. Please see appendix for detailed information.

Contact persons, Gjensidige Forsikring ASA:
Head of Investor Relations Mitra Hagen Negård, Tel: +47 957 93 631
Investor Relations Officer: Marius Michelsen Fjellbo, Tel: +47 995 67 593

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.