General Insurance Commercial

The Commercial Segment offers a wide range of general insurance products to the commercial, agriculture and municipality markets in Norway. The sale is primarily through own distribution channels, and only 20 per cent of the premium volume is brokered business. Gjensidige is the market leader within general Insurance  to the commercial market. The main part of the customer portfolio consists of small and medium-sized enterprises and agricultural  customers.



Competitive sales activities and renewals were the main priorities in the Commercial segment in 2016. In connection with the work on increasing customer satisfaction and improving risk pricing, the methodology for systematic risk management was further refined. New products and digital solutions were launched in order to satisfy changing customer behavior. Strategic work force planning helped improve operational efficiency in the organisation.


In the Commercial segment work is done particularly on improving risk pricing and analytical processes as a tool to enhance customer
activities. Continuous initiatives to deliver the best customer experiences, in combination with analysis-based operations and efficient operation will help to ensure that the Company is forward-looking and customer- oriented.

The Norwegian Commercial market is characterized by fierce and somewhat increasing competition. Gjensidige, being the largest player, is faced with competition both from big, established players and a number of smaller players. The competition entails price pressure in all areas, and especially within Accident and health. Seen in light of the market conditions, Gjensidige is pleased with the renewals into 2017.

Key figures Commercial

NOK million 20162015  2014
Earned premiums 7,257.47,076.86,847.2
Underwriting result 1,631.31,440.8 1,285.4
Loss ratio % 66.568.270.0
Cost ratio % 11.011.411.3
Combined ratio % 77.579.681.2


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