Gjensidige Forsikring ASA

Board/Management Information • Apr 28, 2023

Changes in the Gjensidige Group's organisational structure and Group Management

Changes in the Gjensidige Group's organisational structure and Group Management

Gjensidige Forsikring ASA is changing its organisational structure and group

management to further strengthen its operations and efforts to become a leading

non-life insurance company in the Nordics and Baltics.

"The changes will strengthen our ability to implement best practice across the

Group and sharpen our focus on strategic initiatives and innovation. We will

accelerate our ability to lead the way in a market that is more unpredictable,

and where technology and customer needs are changing rapidly," says CEO Geir

Holmgren.

The new structure will build on Gjensidige's strong customer orientation, unique

expertise in pricing, risk assessment and claims settlement, and industry

-leading cost efficiency.

"The measures will make us even better equipped to exploit competitive

advantages across markets, and strengthen the potential for profitable growth.

We are raising our ambitions in terms of the pace of our Nordic growth, but we

are not compromising on our profitability requirements," says Holmgren.

The following changes are made to the corporate structure:

Three new business areas are established:

· The Private business area will consist of today's private areas in Norway

and Denmark, with the exception of claims functions.

· The Commercial business area will consist of today's business areas in

Norway and Denmark, with the exception of claims functions.

· The Claims business area will consist of Norwegian and Danish claims

functions.

The business areas Sweden and the Baltics will remain unchanged. The respective

country managers will report to the EVP for Strategy and Group Development.

Three new staff areas will be established:

· Strategy and Group Development, consisting of Strategy and Group Innovation,

M&A, Sweden, the Baltics and Gjensidige Mobility Group

· People

· Communication, Brand and Sustainability

The establishment of the new business areas is expected to be completed on 1

July.

The Executive Management will be as follows:

· CEO, Geir Holmgren

· CFO, Jostein Amdal

· EVP Private, René Fløystøl

· EVP Commercial, Lars Gøran Bjerklund

· EVP Claims, Aysegül Cin

· EVP Analytics, Product and Price, Berit Nilsen

· EVP Strategy and Group Development, Janne Flessum

· EVP People, Siri Langangen (will take up her position on 1 August)

· EVP Communication, Brand and Sustainability, Vibeke Hansen Lewin (will take

up her position on 1 August)

· EVP Technology and Insight, Tor Erik Silset

· Chief Risk Officer, Catharina Hellerud

Siri Langangen comes from a position as Head of Corporate HR in Statkraft.

Vibeke Hansen Lewin comes from a position as EVP of Communications in DNB.

"I am very pleased to welcome two very experienced and competent leaders.

Together with other members of the Group management, this will be a very

powerful and strong team that I look forward to working with, says Holmgren.

During the transition period until the new areas are fully established, the

Denmark business area will be headed by acting EVP Iason H. Johannessen, who

until now has been CFO in Denmark. There will also be interim management of the

following areas, until new EVPs take office:

· People: Acting Executive Vice President Marit Agner Matheson, who until now

has been HR Director in Gjensidige.

· Communication, brand and sustainability: Acting EVP Berit Nilsen.

As a result of the changes, Mats Gottschalk has decided to resign his position

as EVP for Denmark.

"I would like to thank Mats for his valuable contribution to Gjensidige over a

long period of time," says Holmgren.

Contact persons, Gjensidige Forsikring ASA:

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

Head of Communications Øystein Thoresen. Tel: +47 952 33 382

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

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

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

savings. The Group's operating revenues were NOK 34 billion in 2022, while total

assets were NOK 135 billion.