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 overarching ambition is to be a leading general insurance company in the Nordic region. We will achieve this through continued profitable growth driven by three strategic focus areas:
• Strong customer orientation throughout the value chain
• Being the best at general insurance
• Being an attractive alliance partner in larger ecosystems
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
Gjensidige’s strategy has been and will continue to be to maintain and strengthen our close relationship with customers through strong customer orientation and direct customer dialogue. At the same time, we are continuously working to test, learn and develop new products, solutions and business models tailored to customers’ need for security, simplicity and sustainable solutions.
To succeed in our ambition to be a leader in the Nordic region and create value in the long term, we believe that scale, size and Nordic presence will become even more important in the years ahead. At the same time, we must maintain and further develop our unique position and relationship with our customers.
The ambition is made clear by the three strategic focus areas that describe what we want to achieve in the upcoming strategy period, and define Gjensidige’s competitive advantage.
Group financial targets towards 2026
| Annual financial targets | 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