Business areas

General insurance has been our core business for more than 200 years. In Norway we also offer pension and savings products. The Group's operations are divided into six business areas.

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General Insurance Private

Market leader in the private market
The Private segment provides a wide range of general insurance products and services to private individuals in Norway, and handles sales, customer service and claims settlement.

 

Facts

  • Market shares as at third quarter 2020
  • Gross earned premiums  2020  were NOK 9 ,494 million
  • Intern
    • Office channel
    • Call center
    • Internet
    • Partners
About Private  
Brands Gjensidige, Gouda
Combined ratio 70.8 %
Customer retention 90 %
Number of employees 821
Number og customers 780.000

General insurance Commercial

Market leader in the commercial market
The Commercial segment provides a wide range of general insurance products to commercial and agricultural customers, and the public sector in Norway. The segment handles sales, customer service and claims settlement.

 

Facts

  • Market shares as at third quarter 2020
  • Gross earned premiums 2020  were NOK 9,241 million
  • Intern
    • Office channel
    • Call center
    • Internet
    • Partners
  • Eksternal
    • Brokers
Facts about commercial  
Brands Gjensidige, Gouda
Combined ratio 76,5 %
Customer retention 92 %
Number of employees 579
Number of customers 150.000

General Insurance Denmark

Established player in an attractive market
The Denmark segment includes the Group’s general insurance operations in the Danish private, commercial and municipal markets. The segment handles sales, customer service and claims settlement. Approximately 40 per cent of earned premiums come from the private market, while the remainder comes from the commercial market, Gouda and Mølholm Forsikring.

 

Facts

  • Market shares as at fourth quarter 2019
  • Gross earned premiums 2020 were NOK 6,081 million
  • Intern
    • Office channel
    • Call center
    • Internet
    • Partners
  • Eksternal
    • Brokers
Facts about Denmark  
Brands Gjensidige, Gouda
Combined ratio 86,5 %
Costumer retention 82 %
Number of employees 742
Number of customers 570.000

General Insurance Sweden

Challenger in a mature market
The Sweden segment includes the Group’s general insurance operations in the Swedish private, commercial and municipal markets. The segment handles sales, customer service and claims settlement. Approximately 50 per cent of earned premiums come from the private market, while the other half comes from the commercial market.

 

Facts

  • Market shares as at third quarter 2020
  • Gross earned premiums 2020 were NOK 1,645 million
  • Intern
    • Call center
    • Internet
    • Partners
  • Eksternal
    • Brokers
Facts about Sweden  
Brands Gjensidige, Gouda
Combined ratio 95,2 %
Customer retention 77 %
Number of employees 248
Number of customers 150 000

General Insurance Baltics

Established participant in consolidated market with strong growth potential
The Baltic segment includes the Group’s general insurance operations in Lithuania, Latvia and Estonia, aimed at the private and commercial markets. The segment handles sales, customer service and claims settlement. Approximately 50 per cent of earned premiums come from the private market, while the other half comes from the commercial market.

 

Facts

  • Market shares as at third quarter 2020
  • Gross earned premiums 2020 were NOK 1,213 million
  • Intern
    • Office channel
    • Call center
    • Internet
    • Partners
  • Eksternal
    • Brokers
Facts about Baltics  
Brands Gjensidige
Combined ratio 94,2 %
Customer retention 68 %
Number of employees 682
Number of customers 430.000

Pension

Well positioned in a growing market
The Pension segment offers defined contribution occupational pension schemes for businesses, in addition to individual pension savings agreements and disability pension. Pension is a priority area that helps to ensure that Gjensidige can be a complete supplier of insurance and pension products to private and commercial customers. The business contributes to stronger customer relations and loyalty among our general insurance customers. ‘Individual pension account’ will be launched in the market in 2021, and Gjensidige is well under way with the preparations for the scheme.

 

Facts

  • Market shares as et third quarter 2020
  • Asset under management in  2020 were NOK 42,362 million
Facts about pension  
Brand Gjensidige
Number of employees 87
Number of customers 350 000