Q3 2025 Gjensidige Forsikring ASA Earnings Call Transcript

Oct 24, 2025 / 07:00 AM GMT

Release Date Price: kr290.5

Transcript

Key Points

Positve

Gjensidige Forsikring ASA (GJNSY) delivered a profit before tax of 267 million, despite a non-recurring expense related to the termination of a new core IT system.
The company reported a strong growth momentum with an 11.3% increase in insurance revenue, adjusted for changes in recognition of wholesaler insurance.
The combined ratio improved to 79.7%, reflecting enhancements in both loss and cost ratios.
Investment returns were robust, contributing to a solid return on equity of 29.6%.
The solvency ratio was strong at 191% at the end of the quarter, indicating a solid capital position.

Negative

The termination of the new core IT system in the pension business resulted in a significant non-recurring expense of €429 million.
Private property insurance in Norway showed lower profitability due to natural volatility in claims, with claims frequency increasing by 5%.
The pension segment reported a loss of 414 million, largely due to the non-recurring expense from the IT system termination.
The Danish commercial portfolio showed no results, primarily driven by a higher number of fires impacting property insurance.
The company is facing challenges with claims frequency and repair costs, which increased by 4% in private property and 4.4% in motor insurance.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

GJFG.OL - Gjensidige Forsikring ASA
Q3 2025 Gjensidige Forsikring ASA Earnings Call
Oct 24, 2025 / 07:00AM GMT

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Presentation
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Unidentified_1 [1]
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Hello and welcome to the Jensygus Q32,025 results presentation. My name is Sergei, and I'll be your coordinator for today's event. Please note this call is being recorded and for the duration of the call, your lines will be in a listen-only mode. However, you will have the opportunity to ask questions at the end of the call. This can be done by pressing tall one on your telephone keypad to register your question. If you require assistance at any point, please press 0 and you will be connected to an operator.

I will hand you over to your host M Negor, head of relations, to begin today's conference.

Thank you.

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