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Key figures and alternative performance measures

Gjensidige recorded a profit after tax of NOK 3.7 billion in 2018, corresponding to a return on equity of 17.3 per cent. For the general insurance operation the premium growth was 2.8 per cent and the combined ratio was 85.0 per cent. The earnings per share was NOK 7.44 and the Board has proposed a dividend of NOK 7.10 per share.

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Financial key figures, graphs

 

 

Definition

*) Defines as alternative performance measure (APM). APMs are described on www.gjensidige.no/reporting in document named  APMs Gjensidige Forsikring Group 2018

Financial key figures and alternative performance measures, tables

Results   2018 20172016  2015 2014
Earned premiums, general insuranceNOK million24,052.823,398.3 22,441.921,272.020,386.8
Other operating incomeNOK million2,208.71,967.83,049.5 2,883.42,711.9
Net income from investmentsNOK million830.22,002.22,196.1 1,473.32,475.6
Claims incurred, general insuranceNOK million(16,791.1)(16,401.7)(15.515.9) (14,597.5)(14,470.4)
Other claims incurred, losses etcNOK million(1,833.5)(1,661.8)(1.963,7) (1,927.8)(1,892.3)
Operating expences, general insuranceNOK million(3,655.9)(3,586.5)(3,191,4) (3,217.6)(3,054.0)
Other operating expencesNOK million(546.2)(501.6)(470.1) (467.7)(400.1)
Tax expenseNOK million(833.5)(1,156.60(1,363.0) (1,184.5)(1,138.5)
Profit/(loss) from continuing operationsNOK million3,381,64,060.24,340.53,561.64,007.5
Profit/(loss) from discontinued operationsNOK million334.9459.1325.4223.1182.1
Profit/(loss) from continuing and discontinued operationsNOK million3,716.44,519.34,655,93,784.74,189.6
Earnings per shareNOK7.449.069.347.578.34
Regular dividend per share (Based on profit for the year)NOK 7.107.106.806.405.90

 Special dividend per share (Based on distribution of excess Capital)

NOK    6.00 
       
Main figures general insurance 201820172016 2015 2014 
Underwriting results 1NOK million3,605.83,410,13,734.63,456.92,862.3
Large losses2NOK million954.7577.4871.8880.3823.3
Run-off results, 3NOK million2,356.91,030.3 1,023.4724.8493.7
Combined ratio 1%85.085.4 83.483.786.0
Loss ratio 1%69.870.1 69.168.671.0

Cost ratio 1

%15.215.3 14.215.115.0
        
Balance sheet   20182017 2016 2015  2014
Investment portfolio 4NOK million52,816.054,860.2 53,957.757,173.956,538.8
EquityNOK million23,845.2  23,703.122,326.023,330.621,656.8
Total equity and liabilitiesNOK million156,762,9149,072.4135,926.6 129,264.4113,982.0
        
        
Return  201820172016 2015 2014 
Return on financial assets 1%1.53.73.9 2.64.3
Return on equity 1%17.321.321.4 17.418.1

Definitions
1 Defined as alternative performance measure (APM). APMs are described on www.gjensidige.no/reporting in document named APMs Gjensidige Forsikring Group 2018
2 Large losses = loss events in excess of NOK 10.0 million
3 Run-off gains/(losses) = changes in estimates from earlier periods. Reserving is based on best estimate, and expected run-off result over time is zero
4 Investment portfolio includes all investment funds in the Group, except Pension and Retail Bank

Total return*

Total return *Last yearLast two years Since IPO
10.12.2010
Gjensidige-8%10% 310%
Nordic general insurance **-3%34% 348%
Dividend reinvested
** Non-weighted average in local currency for Tryg, TopDanmark, Sampo og Alm. Brand 
     
Dividend per share    
 Dividend based on profit
for the year after tax
Dividend related to distribution
of excess capital
2018*NOK 7.10 
2017NOK 7.10 
2016NOK 6,80 
2015
NOK 6,40NOK 6.00
2014NOK 5,90 
* Proposed

  Total return

*) Dividend reinvested

**) Non-weighted average in local currency for Tryg, Topdanmark, Sampo and Alm.Brand.

NOK 7,10 per share as proposed dividend

Non-financial key figures, graphs

Non-financial key figures, table

Health, safety and the environment  201820172016  20152014 
Sickness absence (self-certified and doctor-certified), Gjensidige Forsikring Norway%3.83.93.94.1 4.7
Injuries, Gjensidige ForsikringNumber20000
Turnover of employees, Gjensidige Forsikring%12.415.39.79.68.7
        
Employees  2018 2017 20162015 2014 
Number of employees in the GroupPersons3,8933,8344,0053,9083,525
Average age, Gjensidige ForsikringYears43,042,043,044.343.1 
Average amount spent on skills development per employeeNOK11,10010,30015,00017,500 17,500
Participation in a training programmeDays5,9826,9607,4875,5247,400

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