Gjensidige Forsikring ASA

Board/Management Information • May 31, 2022

Geir Holmgren appointed as new CEO in Gjensidige. Invitation to webcast

Geir Holmgren appointed as new CEO in Gjensidige. Invitation to webcast

The Board of Directors in Gjensidige Forsikring ASA has appointed Geir Holmgren

as new Chief Executive Officer (CEO) in Gjensidige. He will succeed Helge Leiro

Baastad who has led the Group since 2003. Holmgren will assume the position on 2

January 2023.

Helge Leiro Baastad will retire from the position in accordance with his

employment contract. He will continue to hold the role of CEO until Geir

Holmgren joins Gjensidige.

· Helge Leiro Baastad has led Gjensidige through substantial changes. From

being a part of Gjensidige NOR to becoming a solid and profitable listed

company. He has been of significant importance for the company's development and

growth - and will continue to leave traces until he steps down.

A strong, value-based culture with focus on management, performance and

deliveries has resulted in high value creation over many years. The Board

emphasizes continuation of the solid fundamentals Gjensidige has today. The

current strategy and goals, with growth ambitions within general insurance in

the Nordics and the Baltics thus stand firm. The Board is focused on stability

and continuity in ongoing efforts, at the same time as the company develops

further, in order to meet future possibilities and challenges.

We are confident that Geir Holmgren has the managerial and personal qualities

which are necessary to lead the Group further. I am pleased that Geir Holmgren

has accepted to become Gjensidige's next CEO. He has extensive experience in the

insurance industry and in a listed company. He has a very strong strategic

business understanding and stands as a strong and including leader, says Chair

Gisele Marchand.

Geir Holmgren (50) is currently a member of Storebrand's Executive Management

Team, responsible for Corporate Market. He is also Managing Director of

Storebrand Life Insurance. He has been employed by the Group since 1997 and held

numerous management positions. Holmgren has been a member of the Executive

Management Team in the last ten years, with among others Nordic responsibility

for Guaranteed Pension and Product and Customer Services respectively, in

parallel with holding the position of Managing Director of Storebrand Life

Insurance.

· It is with both pride and humbleness I step into the role of leading

Gjensidige, and it is an honour to be given the opportunity to succeed Helge.

The insurance industry is changing, with new customer needs and technological

opportunities. I am looking forward to further develop the market leader in

Norway and realise growth ambitions in the Nordics and the Baltics, together

with all the competent and engaged employees in Gjensidige, says Geir Holmgren.

Holmgren holds a Cand. Scient degree from the University of Oslo. He has also

completed a business management course at Griffith University in Brisbane,

Australia.

Gjensidige will host a webcast today at 12:00 CET during which the Chair of the

Board in Gjensidige Forsikring, Gisele Marchand, will discuss the appointment of

new CEO. Helge Leiro Baastad and Geir Holmgren will also be present. The webcast

can be viewed live via link on www.gjensidige.no/ir. Participants can send in

questions during the webcast. The webcast and following Q&A will be held in

English. A replay will be available later today.

This release contains inside information related to Gjensidige Forsikring ASA

pursuant to the EU Market Abuse Regulation and is subject to the disclosure

requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.

This release is issued by Jon Aniksdal, Communication Manager at Gjensidige

Forsikring ASA. Date and time of publication 08:00 CET, 31.05.2022.

Contact persons Gjensidige Forsikring ASA:

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

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

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

Exchange. We have about 3,800 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 30 billion in 2021, while total

assets were NOK 130 billion.