Our mission, vision, strategy and targets

Gjensidige shall be a leading general insurance company with business in the Nordic and Baltics. A high degree of customer orientation shall be combined with cost efficient operations. Sustainable choices and solutions are a precondition for long term value creation. Mergers, acquisitions and strategic alliances will complement organic growth and help the Group deliver on strategic goals. Profitability shall still be prioritised ahead of growth.


Our mission

For more than 200 years, Gjensidige has sought to create a sense of security for our customers by safeguarding life, health and assets in a sustainable way. That’s our mission. We have continuously implemented damage prevention measures, and provided help when the damage was done. Our experience and expertise shall benefit society at large.

Our vision

Gjensidige’s vision is to know the customer best, and care the most. We aim to be the most customer-oriented general insurance company in the Nordic and Baltic area. This goal shall permeate the Company’s solutions and development agenda and characterise Gjensidige as a brand.

Our strategy

The board has determined Gjensidige’s group strategy for the coming years. The group strategy guides the business strategies of each business segment.

The Board has also adopted targets to ensure that Gjensidige meets its obligations to the Company’s stakeholders. The board has adopted both sustainability targets and financial targets.

In order to support these targets, the management has adopted operational targets.

Strategic platform 

In order to ensure competitiveness, and to succeed with long term value creation, we will have to balance customer orientation with efficient operations. Both must be based on an analytical approach through the entire value chain, and key girders to succeed are a strong brand, technology/ infrastructure that underpins flexibility, and relevant competencies and culture. Sustainable choices and solutions are a fundamental precondition for long term value creation.

Key elements of our strategic platform, that you can read more about in our Annual report:

  • Customer orientation
  • Efficient operations
  • Analytics-driven business processes
  • Brand platform
  • Technology platform
  • Leadership, expertise and culture
  • Corporate social responsibility/sustainability

 Strategy towards 2025 

We expect that the business model and the market players will be broadly the same in the period up until 2025. Gjensidige has different positions and preconditions for further growth and development in the segments. We will implement best practices across segments where natural and expedient. Profitability will be prioritised over growth.

Key elements of our strategy towards 2025, that you can read more about in our Annual report:

  • A problem-solver for customers
  • Improvement and development agendas
  • Segment strategies
  • Capital strategy
  • Structural growth

 Read more about goals and strategy in our annual report 2020.


Sustainability targets (Updated 24 November 2021)

Gjensidige has set goals for the Group’s contribution to overall sustainability, with focus on safer society, sustainable claims handling and responsible investments:

  • 80 per cent of relevant premiums fulfilling the EU taxonomy requirements by 2025
  • 35 per cent reduction in CO2e emissions from claims handling processes by 2025
  • Zero net emissions from investments by 2050  


Group financial targets for 2022 to 2025 (Updated 24 November 2021)

Metric  Target
Combined ratio*  < 85 per cent
Cost ratio* < 14 per cent
Solvency margin ratio between 150 and 200 per cent
Return on Equity after tax > 19 per cent

*Defined as an alternative performance measure (APM). APMs are described at www.gjensidige.no/reporting in a document named APMs Gjensidige Forsikring Group 2020.

Operational targets (Updated 24 November 2021)

Customer orientation

  • Customer satisfaction, Group > 78
  • Retention:
    • Norway > 90%
    • Outside Norway > 85%

Efficient and sustainable operations

  • Digitalisation index, Group> +10% annually
  • Digital claims reporting, Group > 85%
  • Automated claims processing* , Norway > 70%

* Process after claims have been reported