GJF: Partial Internal Model change not approved

Gjensidige Forsikring ASA and Gjensidige Forsikring Group’s application to the Financial Supervisory Authority of Norway (FSA) for certain adjustments of the regulatory approved Partial Internal Model (PIM) has not been approved. The adjustments which were applied for were related to improvements in the calibration of market risk with a potential reduction of the capital requirement by approximately NOK 0.5 billion.

Gjensidige will consider to appeal the decision and will continue the dialogue with the FSA on the remaining factors which comprise the difference between the approved and own PIM.

This information is subject to disclosure under the Norwegian Securities Act section §5-12.

Contact person 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

About Us

Gjensidige is one of the leading players in the Nordic general insurance market. The group offers general insurance products in Norway, Sweden, Denmark and the three Baltic countries. In addition the group offers online retail banking, pension and savings products and health care services in Norway. Gjensidige is one of Norway’s most well-known brands. Both the company logo and the Watchman have a high recognition factor. The roots of the general insurance operations can be traced back to the 1820s, while the Watchman has been an insurance trademark for more than 75 years. 2007 and 2008 saw the launch of the Watchman logo in the other countries where Gjensidige offers insurance products. The group’s health services has been branded Hjelp24.