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General Insurance Private

The Private segment offers a wide range of general insurance products and services in the Norwegian private market, both in property and accident and health insurance. The products are primarily sold through dedicated distribution channels, but also in cooperation with a number of partners. Loyal customers and a strong brand make Gjensidige market leader in the private general insurance market.


Customer orientation was still the top priority in the Private segment in 2018. Various surveys show very high customer satisfaction and this is reflected in unusually high customer loyalty. Good customer experiences are increasingly linked to self-service in digital channels, not least via mobile phones. We lead the field when it comes to using advanced digital solutions that make it easier for customers to buy, own and use our insurance policies. Increased digita- lisation of customer processes and better facilitation of self-service solutions were important focuses also in 2018. Continuous work on the tariffs, and improved customer and risk selection, contributed to better quality in the customer portfolio, and volume growth in a market where competition is strong.

Profitability was challenged by a cold winter with a lot of snow, an unusually dry summer and an unexpec- ted increase in claims inflation for car insurance.
Significant measures were implemented to improve profitability, including by adjusting prices.


Competition is strong, both from established banks, insurance companies and smaller niche companies. Gjensidige's competitiveness in the Norwegian private market is still regarded as good.

Measures to further improve customer orientation and retain strong customer loyalty will continue to be important going forward. We will automate more and more processes, and lay the groundwork for digital claim reports, so that customers’ claims can be settled more quickly and correctly. We will develop better data analysis tools and methods, so that we can give customers better and more relevant advice in both staffed and self-service solutions. Over time, we expect this to lead to reduced costs, increased sales efficiency and even greater customer satisfaction. We will also continue the process of adjusting prices to improve profitability.


Key figures Private

NOK million2018  2017 2016
Earned premiums8,762.58,516.5 8,291.3
Underwriting result 1,934.82,200.0  2.196.7
Loss ratio (%)65.361.460.7 
Cost ratio (%)12.612.812.8 
Combined ratio (%)77.974.273.5 

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Source market shares:

Finance Norway, based on written premiums 3rd quarter 2018