Strong Financial Performance
Gjensidige reported a profit before tax of NOK 2,067 million for Q3 2025, despite a nonrecurring expense of NOK 429 million related to the termination of a new core IT system in the pension business. The insurance service result increased significantly to NOK 2,271 million, and the combined ratio improved to 79.7%.
Robust Growth in Insurance Revenue
Insurance revenue increased by 11.3% in local currency, driven by strong pricing measures and solid renewals across private and commercial portfolios in all geographies.
Improved Investment Returns
Investments generated returns of NOK 534 million, contributing to a solid return on equity of 29.6%.
Strong Capital Position
Gjensidige maintained a solid capital position with a solvency ratio of 191% at the end of the quarter.
Continued Growth in Pension Business
The unit-linked pension business continues to grow, with the number of occupational pension members increasing by 5,500 to almost 335,000, and assets under management rising by NOK 4 billion to NOK 100 billion.