Gjensidige Forsikring ASA

Regulatory Filings • Nov 22, 2023

Gjensidige Forsikring Capital Markets Day 2023: Releasing the full potential

Gjensidige Forsikring Capital Markets Day 2023: Releasing the full potential

Gjensidige Forsikring hosts its Capital Markets Day today at 09:00 CET.

Presentations will be held by Geir Holmgren, Chief Executive Officer of

Gjensidige, and key members of the Group executive management team. The

presentations will provide a review of the Group's strategy and goals, as well

as operational priorities and the Group's strong capabilities.

- I am proud to present new and more ambitious financial targets, and to

confirm sustainability targets in line with the Paris agreement. I am certain

that our strong capabilities will enable us to release the full potential in

Gjensidige, and create more value for our stakeholders, says CEO Geir Holmgren.

-We have strong ambitions for the Group, with an aim to be a leading general

insurance company in the Nordics. We will further strengthen our unique position

in Norway, improve profitability, and seek further growth outside Norway, while

maintaining capital discipline, Holmgren says.

Ambitious financial targets and sustainability goals

Gjensidige has raised the bar further, with an ambitious set of annual Group

financial targets for the next 3 years:

Combined ratio

2024 and 2025:     < 84 per cent

2026:                     < 82 per cent

Cost ratio

2024 and 2025:     < 14 per cent

2026:                     ~ 13 per cent

Return on equity

2024 and 2025:      > 22 per cent

2026:                      > 24 per cent

Solvency ratio

2024-2026:            140 - 190 per cent

Insurance service result, general insurance

2026:

Group > NOK 7.5bn

Denmark > DKK 750m

Gjensidige's attractive dividend policy remains unchanged.

The Group has set goals to contribute to overall sustainability, with focus on

safer society, sustainable claims handling and responsible investments:

· 80 per cent of insurance revenue fulfilling the EU taxonomy requirements by

2026

· Employee survey score: >8 for engagement and perceived diversity

· 55 per cent reduction in CO\2\e emissions from claims handling processes by

2030

· All suppliers signed Suppliers Code of Conduct

· Net zero emissions from investments by 2050

· All external managers signed UN PRI

Agenda:

The presentations will last approximately 2 hours and 30 minutes and will be

followed by a Q&A session.

· Welcome, by Mitra H. Negård, Head of IR

· Releasing the full potential, by Geir Holmgren, CEO

· Industry trends and strategic direction, Janne Flessum, EVP Strategy and

Group Development

· Enhancing growth and profitability across markets, by René Fløystøl, EVP

Private

· Core is key to future value creation, by Lars Gøran Bjerklund, EVP

Commercial

· Operational excellence and next level customer centricity in Claims, by

Aysegül Cin, EVP Claims

· Delivering attractive returns, by Jostein Amdal, CFO

· Q&A session

The video webcast, presentation material and link to ask questions are available

at Investor Relations - Gjensidige.com (https://www.gjensidige.com/investor

-relations). The presentation material is also attached to this release.

This release contains alternative performance measures (APMs), described at

www.gjensidige.no/group/investor-relations/reports in a document named APMs

Gjensidige Forsikring Group Q3 2023.

Contact persons Gjensidige Forsikring ASA:

Head of Investor Relations: Mitra H. Negård, Tel: +47 957 93 631

Head of Communication: Øystein Thoresen, Tel: + 47 952 33 382

Gjensidige is a leading Nordic insurance group listed on the Oslo Stock

Exchange. We have about 4,200 employees and offer insurance products in Norway,

Denmark, Sweden and the Baltic states. In Norway, we also offer pension and

savings. The Group's operating income was NOK 34 billion in 2022, while total

assets were NOK 135 billion.