Gjensidige Forsikring (GJF) CMD 2026 summary

Strategic priorities and market positioning

• Four key priorities: customer empathy, resilience, profitable growth, and sustainability, with a focus on operational excellence and technology-driven efficiency.

• Strong Nordic presence and integration across Norway, Denmark, and Sweden enable scale, stability, and deep customer insights.

• Advanced technology, data analytics, and AI underpin competitive advantage, supporting digitalization, automation, and hyper-personalization.

• Ambitious sustainability commitments include science-based targets, net zero investment portfolio by 2050, significant CO2 reductions by 2030, and sustainable claims handling.

• Continued commitment to high customer loyalty, organizational strength, and attractive shareholder returns.

Financial targets and performance outlook

• 2026 targets: combined ratio below 82%, cost ratio around 13%, ROE above 24%, solvency ratio 140–190%, insurance service result >NOK 7.5bn, and >DKK 750m in Denmark.

• 2027–2028 targets: combined ratio below 81%, cost ratio around 12%, ROE above 28%, solvency ratio 140–190%, insurance service result >NOK 10bn.

• Strong dividend policy with payout ratio of at least 80% of profit after tax, supported by capital-efficient growth and surplus capital from pension business.

• Operational KPIs: customer satisfaction index above 78, retention above 90% in Norway and 86% in Denmark, digital distribution index growth of 5–10% annually.

• Claims savings program achieved NOK 1.1bn since 2023, targeting an additional NOK 600m by 2028, with ongoing automation and AI investments.

Technology and operational excellence

• Technology strategy centers on simplifying IT foundation, amplifying data advantage, and accelerating automation and AI.

• Core system consolidation and modular modernization in Norway and Denmark support scalable, cost-efficient operations.

• Group-wide data platform enables real-time, high-quality data access, supporting hyper-personalization and rapid innovation.

• Over 200 AI/ML models in production enhance pricing, underwriting, claims, CRM, and fraud detection, with internal GenAI adoption up 70% in six months.

• Automation has led to 67% automated claims processing and 86% digital claims reporting in Norway, with ambitions to double automation and data capture within 1–3 years.