Gjensidige Forsikring ASA GJF
Oslo Børs · Financial Services · Insurance - Property & Casualty
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Annual accounts for Gjensidige Forsikring
| NOK million | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Income statement | ||||
| Revenue | 29,684 | 37,014 | 40,584 | 44,936 |
| EBITDA | – | – | – | – |
| Net income | 3,438 | 4,056 | 5,006 | 6,416 |
| Balance sheet | ||||
| Equity | 23,959 | 24,226 | 26,007 | 28,307 |
| Total debt | 3,784 | 4,362 | 5,412 | 5,280 |
| Cash | 3,195 | 2,987 | 3,686 | 4,426 |
| Net debt | 589 | 1,375 | 1,726 | 855 |
| Ratios and per share | ||||
| EBITDA margin | – | – | – | – |
| Profit margin | 11.6% | 11.0% | 12.3% | 14.3% |
| Return on equity | 14.3% | 16.7% | 19.2% | 22.7% |
| Earnings/share (NOK) | 6.88 | 8.11 | 10.01 | 12.83 |
| Book value/share (NOK) | 47.92 | 48.46 | 52.02 | 56.62 |
| Shares outstanding (M) | 500 | 500 | 500 | 500 |
From the annual statements (Yahoo Finance), in the currency the company reports in. Per-share figures use the shares at the year end. Charts and annual figures →
Quarterly figures from the reports
BetaFrom the company's own reports: 49 reports read by AI, every figure checked against the report's page and arithmetic.
Source: the Q3 2026 report, page 4, published 2026-10-23.
| Quarter | Insurance revenue | Insurance result | Profit | EPS | Adj. EPS | Source |
|---|---|---|---|---|---|---|
| Q3 2026 | 11,367 | 3,004 | 2,077 | 4.08 | … | Q3 2026, p. 4 |
| Q2 2026 | 11,463 | 2,325 | 2,122 | 4.18 | … | Q2 2026, p. 32 |
| Q4 2025 | 11,261 | 1,367 | 1,310 | 2.58 | … | Q4 2025, p. 28 |
| Q3 2025 | 11,202 | 2,271 | 1,564 | 3.04 | … | Q3 2026, p. 4 |
| Q2 2025 | 10,668 | 2,166 | 2,245 | 4.53 | … | Q2 2025, p. 27 |
| Q1 2025 | 10,158 | 1,264 | 1,337 | 2.60 | … | 1.1.-31.3.2025, p. 25 |
| Q4 2024 | 10,149 | 1,694 | 1,227 | 2.38 | … | Q4 2024, p. 26 |
| Q3 2024 | 10,026 | 1,538 | 1,665 | 3.32 | … | Q3 2024, p. 19 |
| Q2 2024 | 9,963 | 1,511 | 1,395 | 2.72 | … | Second quarter and first half 2024, p. 21 |
| Q1 2024 | 9,186 | 737 | 821 | 1.59 | … | 1.1.-31.3.2025, p. 25 |
| Q4 2023 | 9,517 | 674 | 1,113 | 2.18 | … | Q4 2023 and full year 2023, p. 19 |
| Q3 2023 | 9,392 | 1,062 | 827 | 1.63 | … | Q3 2023, p. 19 |
Amounts in NOK million, EPS in NOK. Each quarter as first reported, as a backtest would have seen it. Adjusted EPS (without one-off items) is shown once the one-off items have been checked against the companies' own adjusted figures.
One-off items in the reports
- 2026-09-30 Restructuring costs in the technology division, recognised in the Corporate Centre: −90.0 NOK million (Q3 2026, p. 6)
- 2026-06-30 Negative impact on insurance service result from the Danish Supreme Court ruling on the compensation threshold under the workers' compensation scheme, net of reserve releases (recognised in Corporate Centre): −419.3 NOK million (Q2 2026, p. 5)
- 2026-03-31 Reversal of provision related to the Danish Supreme Court ruling on historical pricing practices (booked in Corporate Centre insurance service result): +106.1 NOK million (Q1 2026, p. 5)
- 2026-03-31 Pension: recalculation/strengthening of reserves in the IFRS 17 accounts, revised liability assumptions relating to prior periods, impact on insurance service result (no impact on solvency; adjusted figure shown excluding it): −160.1 NOK million (Q1 2026, p. 18)
- 2026-03-31 Reversal of a provision recognised as insurance revenue, excluded from the adjusted combined ratio and insurance service result: +106.1 NOK million (Q3 2026, p. 7)
- 2026-03-31 Positive effect from a change in the risk adjustment, excluded from the adjusted combined ratio and insurance service result: +105.4 NOK million (Q3 2026, p. 7)
- 2026-03-31 Profit from discontinued operations (ADB Gjensidige, sale completed 2 January 2026), reported separately from continuing operations: +177.3 NOK million (Q1 2026, p. 29)
- 2025-12-31 termination of CoreSuite in the third quarter: −50.7 NOK million (Q4 2025, p. 6)
Found by AI and still being validated: hover for the report's own words.
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Extracted by an AI model from the reports and can be wrong. Not investment advice.
Key figures
| P/E | 21.3 |
| P/B | 4.8 |
| EV / EBITDA | – |
| Net debt / EBITDA | – |
| Return on equity | 22.7% |
| Profit margin | 14.3% |
| Beta 1Y | 0.28 |
| Revenue growth 1Y | +10.7% |
| Revenue CAGR 3Y | +14.8% |
| Earnings/share CAGR 3Y | +23.1% |
| ROE avg. 3Y | 19.6% |
Ratios use the latest annual report that was public 90 days after the year end.
Dividends per share (NOK)
| 2026 | 14.50 |
| 2025 | 10.00 |
| 2024 | 8.75 |
| 2023 | 8.25 |
| 2022 | 7.70 |
| 2021 | 4.00 |
Not investment advice. Figures may contain errors from the data source.