Gjensidige's strategy
Gjensidige’s corporate strategy follows from our mission to ‘safeguard life, health and assets’. We have been doing that for more than 200 years, based on our vision to ‘know the customer best and care the most’.
Our ambition
Our long-term ambition is to be a leading general insurance company in the Nordics. We will achieve this through a continued focus on customer orientation and by leading and constantly finding new ways to make people feel secure.
Our strategic priorities
Our most important sustainable targets
- A safer society:
- 80% insurance revenue from sustainable products by 2026
- Empowered employees: >8 in engagement and perceived diversity score - Sustainable claims handling:
- 55% reduction in CO2e from claims handling by 2030
- All suppliers signed Suppliers Code of Conduct - Responsible investments:
- Net 0 emission in investment portfolio by 2050
- All external managers signed UN PRI
To succeed with our long-term ambition of being a leading general insurance company in the Nordics and creating long-term value for all stakeholders, we will pursue a focused Nordic general insurance growth agenda.
The group strategy is therefore focused on three strategic priorities:
- We will further strengthen our unique position in Norway
- We will strengthen profitability and grow outside of Norway
- We will maintain capital discipline and attractive dividends
Group financial targets towards 2026
| Annual financial targets | 2024 & 2025 | 2026 |
|---|---|---|
Combined ratio* *Defined as an alternative performance measure (APM). APMs are described at www.gjensidige.com/group/reporting in a document named APMs Gjensidige Forsikring Group 2022. | < 84 per cent | < 82 per cent |
Cost ratio* *Defined as an alternative performance measure (APM). APMs are described at www.gjensidige.com/group/reporting in a document named APMs Gjensidige Forsikring Group 2022. | < 14 per cent | ~ 13 per cent |
| Return on equity | > 22 per cent | > 24 per cent |
| Solvency ratio | 140-190 per cent | 140-190 per cent |
| Insurance service result - Group - Denmark | > NOK 7.5 bn > DKK 750 m |
Operational targets 2026
Customer orientation
- Customer satisfaction, Group > 78
- Customer retention:
- Norway > 90%
- Outside Norway > 85 %
Efficient and sustainable operations
- Digital distribution index, Group> +5-10 % annually
- Distribution efficiency, Private + 25 %
- Digital claims reporting, Group > 85%
- Automated claims processing* , Norway > 70%
* Process after claims have been reported