Gjensidige Forsikring ASA

Gjensidige Forskring provides insurance products to private and commercial customers in Norway, Denmark, Sweden and the Baltic states. Co.'s activities are divided into six segments in addition to the asset management unit which manages Co.'s investment portfolio. The Private segment provides a range of general insurance products besides banking, savings and investment products. The Commercial segment provides a range of general insurance products to the commercial and municipality markets. Co.'s investment portfolio includes all investment funds in Co. except for investment funds in the Pension and Savings and Retail Bank segments. Co.'s other segments include Nordic and Baltics.
  • TickerGJF
  • ISINNO0010582521
  • ExchangeOslo Bors
  • SectorNonlife Insurance
  • CountryNorway

Analysts

Jan Erik Gjerland ...
  • Jonas Bru Lien
  • Mads Thinggaard

Sector Fast Comment - Non-life Norway: Market share trends Q3’19

Gjensidige gained market share again (+12bp q-o-q Q3) Premium growth driven by prices, rather than # policies We haven’t made any est. chg. based on this statistics

Christoffer Wang Bjørnsen ...
  • Frank Maaø
  • Joachim Gunell
  • Jon Masdal
  • Karl-Johan Bonnevier
  • Martin Hoang Nguyen
  • Mattias Holmberg
  • Niclas Gehin
  • Nicolas McBeath
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Olof Larshammar
  • Rune Majlund Dahl
  • Simen Mortensen
  • Tomi Railo

Northern Lights

Anders Idborg ...
  • Bengt Jonassen
  • Daniel Thorsson
  • Erik Moberg
  • Fredrik Ivarsson
  • Haakon Amundsen
  • Jan Erik Gjerland
  • Mads Thinggaard
  • Magnus Andersson
  • Martin Melbye
  • Morten Raunholt Eismark
  • Olof Cederholm
  • Oskar Vikström
  • Peter Kurt Nielsen
  • Petter Nystrøm
  • Simon Granath
  • Stefan Knutsson
  • Tobias Kaj

Talking Points - Ringkjøbing Landbobank (Sell): Downgrading after strong run

ABB Ltd (Hold) Post-results comment: Less drama soothes, but no game changer New NII initiatives eaten by lower IP income ahead We downgrade to SELL (Hold); TP down to DKK 445 (455)

Jan Erik Gjerland ...
  • Jonas Bru Lien
  • Mads Thinggaard

Gjensidige - Is the superprofit raining away?

Property weather claims make the underlying CR soft Adj. EPS ’19e -9% from poor investments & higher claims Is it as good as it gets? P/E of 21x on ’20e – SELL

Niclas Gehin

Gjensidige Forsikring (Hold, TP: NOK180.00) - Strong Q3, but not strong enough

Gjensidige reported a solid Q3, with premium growth and the combined ratio beating relatively demanding forecasts. However, the market seems to have expected more, as the share price fell 5%. With Tryg and Topdanmark having sold off 15% in recent weeks, Gjensidige’s discount to peers has narrowed materially. We reiterate our HOLD and NOK180 target price, as we consider the stock more fairly priced than peers and as we expect less-volatile earnings ahead (most of the positive effects of repricing have been seen). We have raised our 2020–2021e EPS by 1% on the solid Q3 premium growth.

Jan Erik Gjerland ...
  • Jonas Bru Lien
  • Mads Thinggaard

Sector Fast Comment - Non-life Norway: Market share trends Q3’19

Gjensidige gained market share again (+12bp q-o-q Q3) Premium growth driven by prices, rather than # policies We haven’t made any est. chg. based on this statistics

Anders Idborg ...
  • Bengt Jonassen
  • Daniel Thorsson
  • Erik Moberg
  • Fredrik Ivarsson
  • Haakon Amundsen
  • Jan Erik Gjerland
  • Mads Thinggaard
  • Magnus Andersson
  • Martin Melbye
  • Morten Raunholt Eismark
  • Olof Cederholm
  • Oskar Vikström
  • Peter Kurt Nielsen
  • Petter Nystrøm
  • Simon Granath
  • Stefan Knutsson
  • Tobias Kaj

Talking Points - Ringkjøbing Landbobank (Sell): Downgrading after strong run

ABB Ltd (Hold) Post-results comment: Less drama soothes, but no game changer New NII initiatives eaten by lower IP income ahead We downgrade to SELL (Hold); TP down to DKK 445 (455)

Jan Erik Gjerland ...
  • Jonas Bru Lien
  • Mads Thinggaard

Gjensidige - Is the superprofit raining away?

Property weather claims make the underlying CR soft Adj. EPS ’19e -9% from poor investments & higher claims Is it as good as it gets? P/E of 21x on ’20e – SELL

Niclas Gehin

Gjensidige Forsikring (Hold, TP: NOK180.00) - Strong Q3, but not strong enough

Gjensidige reported a solid Q3, with premium growth and the combined ratio beating relatively demanding forecasts. However, the market seems to have expected more, as the share price fell 5%. With Tryg and Topdanmark having sold off 15% in recent weeks, Gjensidige’s discount to peers has narrowed materially. We reiterate our HOLD and NOK180 target price, as we consider the stock more fairly priced than peers and as we expect less-volatile earnings ahead (most of the positive effects of repricing have been seen). We have raised our 2020–2021e EPS by 1% on the solid Q3 premium growth.

Jan Erik Gjerland ...
  • Jonas Bru Lien
  • Mads Thinggaard

Gjensidige - Q319: miss on investments; CR in line

Adj. PTP -31% vs. ABG, -11% vs. IR cons. from invest. Rep. CR at 83.2%, improved 7pp to underlying CR 84.9% Negative EPS rev from inv., limited on UW. Stock down.

1 director bought

A director at Gjensidige Forskring ASA bought 2,500 shares at 125.100NOK and the significance rating of the trade was 69/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. ...

Christoffer Wang Bjørnsen ...
  • Frank Maaø
  • Joachim Gunell
  • Jon Masdal
  • Karl-Johan Bonnevier
  • Martin Hoang Nguyen
  • Mattias Holmberg
  • Niclas Gehin
  • Nicolas McBeath
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Olof Larshammar
  • Rune Majlund Dahl
  • Simen Mortensen
  • Tomi Railo

Northern Lights

Håkon Astrup ...
  • Martin Arnell
  • Niclas Gehin
  • Nicolas McBeath
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Simen Mortensen
  • Tomi Railo

Northern Lights

Eivind Sars Veddeng ...
  • Håkon Astrup
  • Jimi Lehtonen
  • Jon Berggren
  • Karl-Johan Bonnevier
  • Mattias Holmberg
  • Niclas Gehin
  • Nicolas McBeath
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Olof Larshammar
  • Patrik Ling
  • Rune Majlund Dahl
  • Simen Mortensen
  • Stefan Gauffin
  • Tomi Railo

Northern Lights

Håkon Astrup ...
  • Joachim Gunell
  • Karl-Johan Bonnevier
  • Mattias Holmberg
  • Mattias Montgomery
  • Niclas Gehin
  • Ole-Andreas Krohn
  • Rune Majlund Dahl

Northern Lights

Niclas Gehin ...
  • Ole-Andreas Krohn

Northern Lights

GJDG.FORSIKRING ASA reduced its risk exposure resulting in an upgrade to Slightly Positive

GJDG.FORSIKRING ASA (NO), a company active in the Full Line Insurance industry, reduced its market risk and raised its general evaluation. The independent financial analyst theScreener awarded an improved star rating to the company, which now shows 3 out of 4 possible stars; its market behaviour has improved and can be considered as defensive. theScreener believes that this new assessment merits an overall rating upgrade to Slightly Positive. As of the analysis date July 12, 2019, the closing price was NOK 178.70 and its potential was estimated at NOK 188.14.

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Sampo plc - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments

Summary Marketline's Sampo plc Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by Sampo plc since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organization to sustain its competitive advantage. Key Highlights Thi...

Expert Corporate Governance Service (ECGS)

Gjensidige Forsikring, Mars 28, 2019

In general, Gjensidige Forsikring ("Gjensidige") is in compliance with the Norwegian regulations relating to the organisation and procedures of the Annual General Meeting. Under ITEM 11a (1), it is proposed to re-appoint Ms. Gisele Marchand as Chairman of the board of directors. Although Ms. Marchand is considered independent, ECGS has concerns over her aggregate time commitments. Ms. Marchand is currently serving as board Chairman of Gjensidige Forsikring ASA and Selvaag Bolig ASA (both listed) and non-executive director of Scatec Solar ASA (listed) and Norgesgruppen ASA (substantial non-lis...

GJENSIDIGE – Proxinvest Corporate Governance Rating ® : B

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

Expert Corporate Governance Service (ECGS)

Proxy Report - 05/04/2018

In general, Gjensidige Forsikring ("Gjensidige") is in compliance with the Norwegian regulations relating to the organisation and procedures of the Annual General Meeting. ECGS recommends to vote FOR all proposals. There are no further peculiarities.

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