Brief: Gjensidige Forsikring: Q2 Result Impacted By Higher Claims In Norway

Gjensidige Forsikring ASA

15/07/2024 06:41

July 15 (Reuters) - Gjensidige Forsikring ASA  GJFG.OL :
    * SECOND QUARTER 2024 RESULT S IMPACTED BY HIGHER CLAIMS IN
NORWAY
    * Q2 INSURANCE SERVICE RESULT NOK 1,433.6 MILLION VERSUS NOK
1,508.6 MILLION YEAR AGO
    * Q2 PRE-TAX PROFIT NOK 1,830.5 MILLION VERSUS NOK 1,333.9
MILLION
YEAR AGO
    * Q2 COMBINED RATIO: 85.4 % (83.2 %)
    * SAYS PROFITABILITY WILL BE PRIORITISED OVER GROWTH
    * SAYS WILL FOCUS ON ENSURING CONTINUED CAPITAL DISCIPLINE,
INCLUDING  DELIVERING ATTRACTIVE RETURNS TO SHAREHOLDERS
    * TARGETS FOR 2024 AND 2025: COMBINED RATIO <84%
    * SIGNIFICANT WEATHER-RELATED CLAIMS AND PROVISIONS IN  Q1
COMBINED WITH HIGH LEVEL OF CLAIMS IN Q2 WILL CHALLENGE DELIVERY
ON THE COMBINED RATIO TARGET FOR 2024

Source text for Eikon:  ID:nWkr9BXwhk 
Further company coverage:  GJFG.OL 

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