Site menu, search and login


Strategy and targets

A strong focus on customers is the core of Gjensidige’s strategy. Backed by a down-to-earth business culture and analytically-driven core operations, this will give Gjensidige a competitive advantage.

Financial targets

AreaTarget 2015Achievement 2015 
Return on equity> 15 per cent17.4 per cent 
DividendNominal high and stable.
Pay-out ratio > 70 per cent 
Nominal +8.5 per cent
Pay-out ratio 84.5 per cent
RatingMaintain A rating from S&PA rating confirmed in July
General Insurance  
Combined ratio86-89 per cent**83.7 per cent
Cost ratio~15 per cent15.1 per cent
  * Dividends based on profit for the year. Excess capital distribution not included.
** Combined ratio target on an undiscounted basis, assuming ~4 pp run-off gains next 3-5 years and normalised large losses impact. Beyond the next 3-5 years, the target is 90-93 given 0 pp run-off.


Gjensidige is working systematically to become the most customer-oriented general insurance company in the Nordic region. It is a bold ambition that requires continuous improvement of the customer experience in all channels and in connection with all events. The customer perspective shall also form the basis for the efficiency and improvement agenda throughout the Group.
Further development of seamless multi-channel distribution and a shift in focus from products to services are crucial to realising the Group’s ambition for customer orientation.

  • Changes in technology and customer behaviour mean that increasingly close cooperation is required between the channels. For example, more and more
    customers expect to be served via call centres, while also being able to contact Gjensidige on the internet.

  • A good understanding of customers’ everyday processes is fundamental if we are to succeed in developing new, relevant services.

  • Customers’ needs and behaviour are changing faster than ever. It is therefore paramount to reduce the time it takes to develop and launch new customer-oriented services.

Good self-service solutions combined with more automated processes will underpin the focus on customer orientation and ensure continued cost-efficiency and competitiveness.
Information is a strategic resource for Gjensidige. The work on ensuring good data quality, efficient data collection processes, availability, reporting and analysis will therefore be strengthened.
Without motivated and enthusiastic managers and employees who have the right expertise and attitudes, the strategic ambitions cannot be realised. A higher pace of change – not least as regards technology and customer behaviour – means that a transition must be made from traditional training-based competence-rai­sing measures to a dynamic learning culture driven by ­individual managers and employees. Competence-sharing shall increasingly take place through data-­driven work processes, and an overall understanding is created through internal rotation of managers and staff.

Gjensidige Bank and Gjensidige Pensjon og Sparing play an important strategic role in relation to Gjensidige’s position in the Norwegian market. Customer solutions and concepts for customers holding a broad product range will continue to be important in both the private and commercial markets.