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The Pension segment offers defined contribution occupational pension schemes for businesses, in addition to individual pension savings agreements and disability pension. Pension is a priority area that helps to ensure that Gjensidige can be a complete supplier of insurance and pension products to private and commercial customers. The business contributes to stronger customer relations and loyalty among our general insurance customers.


Its performance has improved in recent years as a result of its expedient business model and efficient operations. Focus was given to the further develop- ment of solutions well-adapted to customer needs in 2018, as in the previous year, which contributed to strong portfolio growth. Close to one third of our small and medium sized enterprise-customers with insurance of the person-coverage in Gjensidige Forsikring were customers in our pensions business as well. This figure is still low given that 70 per cent of our pension customers are general insurance customers, thus indicating a considerable potential for growth.


The market for defined contribution pensions is growing and Gjensidige is well-positioned to parti- cipate in it. The positive growth rate in volume and performance is expected to continue.

We expect to win market shares in the defined contribution pension market, which does not tie up a lot of capital, thanks to our brand, customer friendly digital solutions and our large portfolio of general insurance customers among small and medium-sized companies. We expect the percentage of general insurance customers who are also pension customers to continue increasing in 2019.



Key figures Pension

NOK million 2018 20172016 
Net operating income126.574.088.4 
Net Financial Income 40.2 29.726.4 
Profit/(loss) before tax expense166.6 103.7 114.8


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Sources market shares:

Source: Finance Norway, 3rd quarter 2018, Based on insurance obligations

* With individual investment options