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General Insurance Denmark

The Denmark segment includes the Group’s operations in the Danish private, commercial and municipal markets. Gjensidige has its own distribution channels in these markets as well as distribution through a number of partners and brokers. In Denmark, the Nykredit Group is a key distribution partner. We are a well-established player in the Danish market, and come in fifth in relation to market share.


The work on strengthening distribution channels and the rationalisation of operating processes continued during 2018, with a focus on increased digitalisation and automation. The focus on further developing the business model, portfolio restructuring and repricing helped to strengthen the quality of portfolios in the Danish part of the business.


The Danish general insurance market is relatively consolidated, and marked by both strong competition and high price pressure. To generate further profitability, Gjensidige will prioritise increasing sales efficiency and customer loyalty, improving pricing models and further developing the partnership structure of the Danish part of the business.
We will work on further rationalising costs through digitalisation and automation. Simplifying the business model, the organisation, products and processes are important means of achieving efficient operations. The implementation of the new IT core system, which will start in 2019, will make an important contribution to this work.

Gjensidige will look for opportunities for growth in Denmark, both organic opportunities and through value generating acquisitions

Key figures Denmark

NOK million 2018 2017

Earned premiums

Underwriting result434,5 284,0 
Loss ratio%76.880.0
Cost ratio%14.414.1
Combined ratio%91.194.1


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Sources market shares:

Denmark: The Danish Insurance Association, based on gross premiums earned  3. kvartal 2017