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General Insurance Sweden

The Sweden segment includes the Group’s operations in the Swedish 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. We are the seventh biggest general insurance company in Sweden, by market share.


The Swedish part of the business improved its profitability in 2018 by focusing on repricing and implementing a number of rationalisation measures, including renegotiating partnership agreements and automating processes. We continued to work on improving our internal procedures and processes to improve quality, risk selection and premium levels when renewing policies. The customer centre in Malmø was scaled up to handle all customer service and outbound sales activities for our private customers in Sweden.


The Swedish market is relatively consolidated and marked by strong competition. Gjensidige will prioritise creating growth and robust profitability through digitalisation, automation of processes and the development of its culture and organisation.
We will work on repricing the portfolio, improving our price models and customer relations activities, and concentrate activities around fewer areas, particularly in the Commercial market. Costs will be further reduced once we have implemented the new IT core system.

Gjensidige will seek to strengthen its position in Sweden through organic growth in addition to opportunities for value generating acquisitions.

Key figures Nordic

NOK million 20182017

Earned premiums

Underwriting result 78.2(91.6)
Loss ratio% 78.585.9
Cost ratio%16.519.3
Combined ratio% 95.097.1


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Sources market shares:

Insurance Sweden, based on earned premiums 3rd quarter 2018