Expert Corporate Governance Service (ECGS)
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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-listed company), which exceeds ECGS' guidelines. In light of concerns over aggregate time commitments, ECGS recommends to vote OPPOSE. There are no further peculiarities.

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.


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