Brief: Gjensidige Forsikring Q4 Earned Premiums At NOK 8.16 Bln, Above Estimates

Gjensidige Forsikring ASA

25/01/2023 06:11

Jan 25 (Reuters) - Gjensidige Forsikring ASA  GJFG.OL :
    * Q4 EARNED PREMIUMS NOK 8,156.5 MILLION (COMPANY CONSENSUS
ESTIMATE: NOK 7,970 MILLION)
    * PROPOSES A REGULAR DIVIDEND OF NOK8.25 PER SHARE.
    * OUTLOOK FOR GJENSIDIGE'S UNDERWRITING RESULTS REMAINS GOOD
    * UNLESS GEOPOLITICAL SITUATION BECOMES DRAMATICALLY WORSE,
WE DO
NOT EXPECT SIGNIFICANT NEGATIVE SPILL-OVER TO UNDERWRITING
RESULT
    * RETURN ON INVESTMENT PORTFOLIO REFLECTS MARKET CONDITIONS
    * LARGE LOSSES WERE SIGNIFICANTLY HIGHER AND RUN-OFF GAINS
SOMEWHAT HIGHER THAN IN SAME QUARTER IN 2021.
    * UNDERLYING FREQUENCY LOSS RATIO INCREASED BY 2.3
PERCENTAGE
POINTS COMPARED WITH SAME QUARTER IN 2021
    * PENSION SEGMENT RECORDED A HIGHER PROFIT, MAINLY DRIVEN BY
INCREASED INSURANCE AND FINANCIAL INCOME.
    * UNDERWRITING RESULT REFLECTS STRONG PREMIUM GROWTH, OFFSET
BY A
HIGHER LOSS RATIO
    * RISE IN INTEREST RATES IN 2022 IN COMBINATION WITH AN
INCREASE
IN CREDIT SPREADS HIT FIXED-INCOME INVESTMENTS

Source text for Eikon:  ID:nWkr79t6bW 
Further company coverage:  GJFG.OL 
 (Gdansk Newsroom)
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