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Norwegian insurer offering motor, home and general property & casualty insurance, mutually-rooted heritage.
Norwegian insurer offering motor, home and general property & casualty insurance, mutually-rooted heritage.
Earns an underwriting profit where premiums exceed claims and costs, plus returns on the investments held against claims. Norway is the main market, with Denmark, Sweden and the Baltics smaller. Gjensidige Foundation, the old mutual's successor, holds the majority of the shares.
In one line: A Norwegian Progressive/Allstate.
Moat: narrow (brand, scale, distribution). Leading Norwegian P&C brand with a large direct/agent distribution base and loyal customer foundation.
Headquarters: Oslo, Norway · Founded: 1816 · Employees: 4,721
Size Gjensidige Forsikring (GJF.OL) is a Norway Financials company (Multi-Line Insurance) with a market value of $14.7B, the 6th largest of 115 Norway companies the cockpit tracks. Shares closed at NOK 273.40 on 6 Nov 2026.
Performance Over six months the shares gained 9.4%, against +10.3% for the median peer and +2.7% for the Norway market (cap-weighted) — 11th highest of 21 in its peer set.
Growth Revenue grew 7.4% over the last twelve months (peer median +6.5%); the operating margin is 23.4% (peer median 14.1%).
Valuation It trades at 5.73× book value against a peer median of 1.75× (2nd most expensive of 21).
Price implies The share price implies a return on equity of about 19.1%; Gjensidige Forsikring delivers 29.9%, so the price asks less than the business earns today.
Next results Next results expected around 27 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | NOK 50.2B | NOK 48.2B | NOK 42.8B | NOK 38.8B | NOK 36.0B |
| Revenue growth | — | +13% | +10% | +8% | — |
| Net income | NOK 7.24B | NOK 6.56B | NOK 5.14B | NOK 4.13B | NOK 3.44B |
| Free cash flow | NOK 6.64B | NOK 6.10B | NOK 3.68B | NOK 4.07B | NOK 1.66B |
| Capital expenditure | NOK 278M | NOK 163M | NOK 420M | NOK 717M | NOK 565M |
| Total debt | NOK 8.48B | NOK 8.00B | NOK 7.43B | NOK 5.58B | NOK 5.00B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| Gjensidige Forsikring GJF.OL | $14.7B | +9% | +7% | 30% | 5.73× | 19.1% |
| Sampo SAMPO.HE | $29.1B | +10% | +2% | 16% | 3.60× | 11.3% |
| Tryg A/S TRYG.CO | $14.2B | +10% | +5% | 12% | 2.61× | 8.1% |
| Storebrand STB.OL | $8.94B | +13% | +40% | 14% | 2.56× | 16.1% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | GJF.OL | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +10.4% | +3.2% | 4th highest of 21 |
| 6-month return | +9.4% | +10.3% | 11th highest of 21 |
| Return on equity | 29.9% | 16.7% | 3rd highest of 21 |
| Price / book | 5.73× | 1.75× | 2nd most expensive of 21 |
| Trailing P/E | 18.2× | 12.5× | 6th most expensive of 20 |
| ROE the price implies | 19.1% | 10.4% | 5th most demanding of 21 |
| ROE delivered | 29.9% | 16.6% | 3rd highest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Gjensidige Forsikring GJF.OL | Norway | $14.7B | +9% | +7% | 30% | 5.73× | 19.1% | 29.9% |
| Suncorp SUN.AX | Australia | $14.9B | +21% | -3% | 10% | 2.08× | 11.7% | 9.8% |
| Brookfield Wealth Solutions BNT.TO | Canada | $14.9B | -8% | -18% | 1% | 0.70× | 9.4% | 0.7% |
| Mapfre MAP.MC | Spain | $14.1B | -2% | +5% | 12% | 1.26× | 8.4% | 12.4% |
| Powszechny Zaklad Ubezpieczen Spolka Akcyjna PZU.WA | Poland | $16.1B | +15% | +1% | 20% | 1.83× | 19.5% | 19.5% |
| CNA Financial CNA | United States | $12.8B | +9% | +2% | 10% | 1.25× | 7.2% | 9.6% |
| Aegon AGN.AS | Netherlands | $12.7B | +4% | +16% | 10% | 1.25× | 8.2% | 10.5% |
| ASR Nederland ASRNL.AS | Netherlands | $17.3B | +14% | +6% | 13% | 1.74× | 8.3% | 13.1% |
| Unum UNM | United States | $12.2B | -5% | -5% | 3% | 1.52× | 8.1% | 2.6% |
| Globe Life GL | United States | $12.1B | +4% | +6% | 21% | 2.08× | 11.7% | n/a |
| Aditya Birla Capital ABCAPITAL.NS | India | $11.5B | +8% | +24% | 12% | 2.56× | 41.9% | 12.1% |
| New China Life Insurance 1336.HK | Hong Kong | $21.5B | -24% | +44% | 42% | 0.87× | 10.3% | 42.3% |
| Legal & General LGEN.L | United Kingdom | $21.9B | +24% | +137% | 26% | 7.73× | 70.7% | 26.2% |
| Unipol Assicurazioni UNI.MI | Italy | $23.8B | +13% | +7% | 17% | 1.62× | 14.9% | 16.9% |
| Kinsale Capital KNSL | United States | $8.64B | +26% | +8% | 28% | 4.70× | 30.6% | 27.8% |
| China Taiping Insurance 0966.HK | Hong Kong | $8.28B | -24% | +19% | 36% | 0.63× | 8.1% | 36.2% |
| Hiscox HSX.L | United Kingdom | $8.08B | +18% | +4% | 17% | 2.06× | 15.1% | 16.6% |
| Helvetia Baloise HBAN.SW | Switzerland | $27.0B | +5% | +54% | 4% | 1.80× | 4.8% | 4.0% |
| W. R. Berkley WRB | United States | $27.9B | +16% | +1% | 19% | 2.91× | 12.8% | 19.2% |
| Lincoln National LNC | United States | $7.67B | +12% | +12% | 23% | 0.74× | 8.6% | 22.6% |
| Cincinnati Financial CINF | United States | $28.5B | +15% | +10% | 17% | 1.76× | 10.6% | 16.9% |