Brief: Gjensidige Forsikring Proposes Regular Dividend Of NOK 8.75 Per Share

Gjensidige Forsikring ASA

24/01/2024 06:40

Jan 24 (Reuters) - Gjensidige Forsikring ASA  GJFG.OL :
    * RESULTS FOR THE QUARTER AND THE FULL YEAR IMPACTED BY
CHALLENGING WEATHER CONDITIONS
    * WILL CONTINUE TO STRENGTHEN PRICING MEASURES AND ADJUST
TERMS
AND CONDITIONS TO ENSURE THAT INCREASE IN CLAIMS COSTS IS
MITIGATED OVER TIME
    * DELIVERY ON FINANCIAL TARGETS FOR 2023 WAS IMPACTED BY
CHALLENGING WEATHER DURING YEAR AND ONE-OFF EXPENSES IN Q3
    * PROPOSES A REGULAR DIVIDEND OF NOK 8.75 PER SHARE
    * Q4 PRE-TAX PROFIT NOK 1,606.5 MILLION (COMPANY CONSENSUS
ESTIMATE: NOK 1,844 MILLION)
    * CHALLENGING WINTER CONDITIONS WITH HEAVY SNOWFALL AND LOW
TEMPERATURES IN Q4 CONTINUED INTO 2024
    * Q4 COMBINED RATIO 92.2% (COMPANY CONSENSUS ESTIMATE:
86.7%)
    * THE OUTLOOK FOR GJENSIDIGE'S INSURANCE SERVICE RESULTS
REMAINS
GOOD
    * WE HAVE SEEN A SIGNIFICANT INCREASE IN REINSURANCE
PREMIUMS;
GJENSIDIGE IS AFFECTED BY THIS
    * COSTS RELATED TO THE REINSURANCE PROGRAMMES ACCOUNT FOR A
VERY
LIMITED SHARE OF THE GROUP’S TOTAL INSURANCE REVENUE

Source text for Eikon:  ID:nWkr69Z15m 
Further company coverage:  GJFG.OL 

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 7696600;))