General Insurance Commercial

The Commercial segment offers a wide range of general insurance products to the commercial, agricultural and municipal markets in Norway. Sales primarily take place through dedicated distribution channels, and only 20 per cent of the premium volume is brokered business. Gjensidige is market leader in general insurance for the commercial and agricultural markets. Most of the customer portfolio consists of small and medium-sized enterprises and agricultural customers.



Sales activities and retaining good customers were the top priorities in the Commercial segment in 2017. Models based on analytics have been further developed to ensure continued high customer satisfaction and efficient distribution. New products and digital solutions adapted to changed customer needs were also launched. Strategic staff planning throughout the year helped to ensure good operational efficiency in the segment. There is a strong focus on competence building to ensure relevance and competitiveness in a professionalised procurement market.


Work on improved risk pricing and analytical processes as tools for strengthening customer activities is given particular focus in the Commercial segment. Continuous initiatives to deliver the best customer experience in combination with analytics and operational efficiency will help to ensure forward-looking and customer-oriented operations.

The Norwegian macro economy has stabilised and the market for commercial insurance is somewhat improving. The market is characterised by strong competition and continued price pressure, especially for group pension schemes.

In recent years, Gjensidige has consolidated its position as market leader in commercial and agricultural insurance, and is in a good position for the future. In light of market developments, Gjensidige is very pleased with the renewal rate at the beginning of 2018.

Key figures Commercial

NOK million2017  20162015 
Earned premiums 7,300.5 7,257.47,076.8
Underwriting result 1,634.8 1,631.31,440.8 
Loss ratio % 66.1 66.568.2
Cost ratio % 11.5 11.011.4
Combined ratio % 77.6 77.579.6


Go to top

Source market shares:

Finance Norway, based on written premiums 3rd quarter 2017