Investor information

The Gjensidige share yielded a total return of 19 per cent in 2017. At year-end, Gjensidige was the seventh biggest company listed on Oslo Børs, with a market value of NOK 77 billion. The profit per share was NOK 9.05 in 2017, and the Board has proposed a dividend of NOK 7.10 per share.

Guidelines for investor relations

Gjensidige shall have an open dialogue with all stakeholders, and it follows the Oslo Børs Code of Practice for IR. Established guidelines for investor relations are available at

Each quarter, we meet with analysts and investors to discuss results and business operations. A member of Gjensidige’s Investor Relations team usually attends these meetings, possibly together with the CEO and/or the CFO or another relevant executive from the Company.

Dividend and dividend policy

Gjensidige’s goal is to distribute high and stable nominal dividends, and at least 70 per cent of the profit after tax over time. When determining the size of the dividend, consideration will be given to expected future capital needs. Gjensidige will also distribute excess capital over time.

For the 2017 financial year, the Board has proposed that a dividend of NOK 7.10 per share be distributed based on the profit for the year. This corresponds to 79 per cent of the profit after tax.

The dividend for the 2017 financial year will be approved by the general meeting on 5 April 2018 and paid to shareholders registered on the date of the general meeting. The Gjensidige share will be traded ex dividend on 6 April 2018, the record date will be 9 April 2018 and the dividend will be disbursed on 16 April 2018.


Customer dividend

The Gjensidige Foundation is the largest shareholder in Gjensidige, with a holding of 62.2 per cent. The Foundation passes on share dividend relating to the profit for the year from Gjensidige to Gjensidige’s general insurance customers in Norway in the form of customer dividend. Share dividends relating to the distribution of excess capital are retained and managed by the Gjensidige Foundation.

Customer dividend is allocated to customers based on how much they paid in insurance premiums during the financial year in question. It is then distributed to customers who are still customers at the time of Gjensidige’s general meeting, which adopts the customer dividend.

Customer dividend paid in 2017, based on the profit for 2016, accounted for 14 per cent of premiums paid in 2016.


At year-end 2017, Gjensidige had approximately 33,000 shareholders. The 20 biggest owners represented a total of 85.1 per cent of the shares in the Company.

The Gjensidige Foundation has laid down in its statutes that its ownership interest in Gjensidige shall amount to at least 60 per cent, which shall contribute to predictability and stable ownership.

The Foundation is willing to consider a reduced ownership fraction in the event of any acquisitions or capital increases that are in accordance with Gjensidige’s overall strategy.

The Foundation manages ownership of Gjensidige on behalf of Gjensidige’s general insurance customers in Norway. It has an ownership policy that focuses on high value creation over time, and expects a competitive dividend.

 20 largest shareholders 31. desember 2017*

1 Gjensidigestiftelsen62.2
2 Deutsche Bank  3.9
3 Caisse de Depot et Placement du Quebec 3.7
4 Folketrygdondet3.4
5 Danske Bank 2.7
6 Black Rock Inc 2.1
7 State Street Corporation0.8
8 The Vanguard Group, Inc 0.8
9 DnB ASA 0.8
10 Storebrand0.6
11 Safe investment Company  0.5
12  KLP 0.5
13 Nordea0.5
14 Thornburg Investment Mgt. 0.5
15 JPMorgan Chase & Co William Blair & Company 0.4
16 Northern Trust Corporation 0.4
17 1832 Asset Mgt 0.3
18 Fidelity Worldwide Investment (FIL) 0.3
19 Legal & General  Group 0.3
20 Societe Generale .,3

 The list of shareholders is based on an analysis of the register of shareholders in the Norwegian Central Securities Depository (VPS) as at 31 December 2016, carried out by Orient Capital Ltd. The analysis maps the owners behind the nominee accounts. There is no guarantee that the list is correct.

General Meeting

The next ordinary General Meeting will be held at Gjensidiges headquarter, Schweigaards  gate 21, Oslo, Norway, 5 April 2017, at 17:00 CET.

For more detailed information about governing bodies and/ or the General Meeting, see page 40-53 and/ .