Pension and Savings

Pension and Savings shall contribute to sales of a wide range of products to general insurance customers in Norway by offering pension and savings products, mainly to the Norwegian commercial market. The products are distributed directly by Gjensi- dige and via selected cooperation partners. Gjensidige is the fourth largest player in the Norwegian defined contribution pension market.

2016

Pension and Savings shall contribute to sales of a wide range of products to general insurance customers in Norway by offering pension and savings products, mainly to the Norwegian commercial market. The products are distributed directly by Gjensidige and via selected cooperation partners. Gjensidige is the fourth largest player in the market for defined contribution unit linked products.

Outlook

Pension and Savings is a priority area that helps to make Gjensidige a complete supplier of insurance and pension products to the Commercial segment. The business contributes to stronger customer relations and loyalty among the general insurance customers. In February 2017 the Savings operations Gjensidige Investeringsrådgivning was merged with Gjensidige Bank. The Pensions operations carry on as Gjensidige Pensjonsforsikring.

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

Key figures Pension and Savings

NOK million2016  2015 2014
Net insurance revenue195.9 155.9136.0
Net operating income98.1 53.4 12.7 
Profit/(loss) before tax expense125.4 84.2 43.9 

 

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