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Today, Gjensidige will host a webinar on implementation of new accounting standards and present revised financial targets

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The webinar will start at 09:00 CET and last for approximately one hour, including Q&A. The presentation material and a transition guide are available on gjensidige.no/ir.

Chief Financial Officer Jostein Amdal and Chief Accountant Karen-Elise Berg Christoffersen will explain the key implications of IFRS 9 Financial instruments and 17 Insurance contracts at Gjensidige. The adoption of the new accounting standards will impact where, when and how specific items are recognised in Gjensidige’s financial statements. Group fundamentals, underlying cash flows, solvency position and the dividend policy will remain unchanged.

Financial targets for the Group have been reviewed on the basis of the new accounting standards and current interest rates. The adjustments are mainly technical. The revised annual targets from 2023 are as follows:

  • Combined ratio < 84 per cent (down 1 pp from < 85 per cent)
  • Cost ratio < 14 per cent (unchanged)
  • Return on equity > 20 per cent (up 1 pp from > 19 per cent)
  • Solvency ratio 150-200 per cent (unchanged)

The financial targets for 2022 are unchanged.

Event details:

The event will take place as a video webcast, available for everyone to view on gjensidige.no/ir.

Participants who would like to ask questions can type in questions during the webinar or dial in using one of the telephone numbers below. Dial-in details:
Norway: +47 215 63 318
UK/ Europe: +44 (0) 33 0551 0200
USA: +1 212 999 6659
Other locations: Please choose one of the above.

This release contains alternative performance measures (APMs). APMs are described at www.gjensidige.no/reporting in a document named APMs Gjensidige Forsikring Group Q3 2022.

For further information, please contact:
Head of Investor Relations, Mitra Hagen Negård, mobile: +47 957 93 631, email: Mitra-Hagen.Negard@gjensidige.no
Investor Relations Officer, Marius Michelsen Fjellbo, mobile +47 995 67 593, email: Marius-michelsen.fjellbo@gjensidige.no

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