Gjensidige on track for worst day in 1 yr after earnings miss

Tryg A/S

15/07/2024 08:33

** Shares in Gjensidige Forsikring  GJFG.OL  fall around 7%
to one-month low after the Norwegian insurer Q2 earnings missed
expectations
    ** Insurance Service Result of NOK 1.43 billion ($132.6
million) was 19% below company-compiled consensus and profit
after tax was about 10% below 
    ** Jefferies says the "material" miss is not surprising,
after peers Tryg  TRYG.CO  and Storebrand  STB.OL  reported
continued inflationary pressure last week 
    ** If losses hold, Gjensidige's stock will see its worst day
in a year, it is among worst performers on the Europe-wide STOXX
600  .STOXX  index
    
    

($1 = 10.7831 Norwegian crowns)

 (Reporting by Anna Chaberska)
 ((Anna.chaberska@thomsonreuters.com))