Gjensidige Forsikring ASA Due Diligence

Run due diligence on Gjensidige Forsikring ASA: check compliance and get alerts when suppliers change.

Norway · www.gjensidige.dk · 21 vendors

Gjensidige Forsikring ASA is a Norwegian insurance company offering general insurance products to private individuals, commercial, and agricultural customers in Norway, Sweden, and Denmark. In Norway, the company also provides pension and savings plans. Its services cover a wide range of needs, including motor, property, travel, accident, and health insurance.

Resilience scores

Disruption prediction

The category benchmark for Gjensidige Forsikring ASA is a 5% probability of disruption in the next three months.

8 of Gjensidige Forsikring ASA's 21 vendors have incident tracking.

Technology vendors

Services catalogue

1 service in catalogue across 1 category; runs on 21 sub-vendors.

Insights

Last updated 2026-10-11 · revision 1

21 direct vendors, 225 subvendors

Direct vendors by controlling owner country (sample)

Subvendors by controlling owner country (sample)

Migration Readiness: 9/10

Assessed by AI based on technology stack characteristics (cloud-native vs legacy, containerization, microservices), regulatory environment, data residency requirements, financial stability, and vendor lock-in risks. The score ranges from 0-10, where higher scores indicate better readiness for technology migration.

Gjensidige Forsikring ASA exhibits exceptionally high migration readiness. Their internal tech stack is predominantly cloud-native, leveraging Microsoft Azure as the primary cloud platform and Google Cloud Platform for data and analytics. The extensive use of Kubernetes and Docker for container orchestration, coupled with Terraform for infrastructure as code, signifies a highly automated, portable, and scalable environment. An API-first integration architecture and event-driven systems (Kafka) further promote modularity and ease of integration or re-platforming. Crucially, the company benefits from a low vendor lock-in risk with a diverse base of 17 vendors across 7 countries, which minimizes dependencies and simplifies the process of migrating or reconfiguring services. Although specific data on regulatory requirements and data residency constraints is not provided, the advanced and flexible technical architecture positions them very well to adapt to such requirements during any migration effort. The lack of specific financial stability data does not detract from the strong technical readiness for migration.

Compliance

10 in-scope frameworks identified; showing 3.

SOC 2 (source) — No public evidence

SOC 2 is an assurance framework relevant for service organizations that store customer data in the cloud. It is not mandatory but is often required by corporate customers, particularly in North America.

ISAE 3000 (source) — No public evidence

ISAE 3000 is an international standard for assurance engagements other than audits of historical financial information. It can be used for reports on internal controls at a service organization, similar to SOC reports.

ISO 27001 (source) — No public evidence

ISO 27001 is a globally recognized standard for information security management. It is considered best practice in the financial services industry due to the sensitive nature of the data handled.

Evidence: https://www.gjensidige.com/files/content-innhold/konsern-filer/annual-reports/Annual%20report%202023%20Gjensidige.pdf

Financials

Three-year financials

Financial Resilience Score: 9/10

Gjensidige Forsikring ASA demonstrates exceptional financial resilience, underpinned by its leadership position in the Nordic insurance market, strong capital base, and consistent profitability growth. The company reported an S&P 'A' rating with stable outlook, a solvency ratio of 188% at year-end 2025 (189% at Q2 2026) that comfortably exceeds the 140-190% target range, and total assets of NOK 192 billion. Return on equity has climbed from 18.2% in 2023 to a sector-leading 27.3% in 2025, demonstrating sustained operational excellence. Profitability metrics are industry-leading, with the FY 2025 combined ratio of 83.4% beating the 84% target, and the underlying loss ratio improving 3.5 percentage points through effective pricing. Insurance revenue has grown at double-digit rates for three consecutive years (NOK 32.2B in 2022 to NOK 42.8B in 2025), while equity has steadily increased from NOK 24.2B in 2023 to NOK 28.3B in 2025. The Board proposed a generous NOK 14.50/share dividend (including NOK 4.50 special dividend) reflecting capital strength. Key risks include Denmark-specific execution challenges (NOK 502M Q4 2025 impact from IT system write-down and workforce reductions, plus a NOK 419M negative impact from a Danish Supreme Court workers' compensation ruling in Q2 2026), natural peril/weather exposure (as evidenced by the weak 2023 combined ratio of 87.6%), and investment portfolio sensitivity particularly to real estate markets. Growth deceleration in the private segment (from 9% to 5.6% in H1 2026) warrants monitoring, but overall resilience remains very strong.

Key strengths: S&P 'A' rating with stable outlook, Solvency ratio of 188% (FY2025), well above 140-190% target range, Industry-leading ROE of 27.3% in 2025, Combined ratio of 83.4% beating the 84% target, Three consecutive years of double-digit insurance revenue growth, 90% customer retention rate in Norway (hit 2028 target early), Total assets of NOK 192 billion with equity of NOK 28.3B, Strong dividend capacity (NOK 14.50/share proposed for 2025), Market leadership with ~26% share of Norwegian insurance market

Risk factors: Denmark execution risk - NOK 502M Q4 2025 charge from IT write-down and workforce reductions, Danish Supreme Court workers' compensation ruling - NOK 419M negative Q2 2026 impact, Weather/natural-peril exposure (2023 combined ratio of 87.6% vs <84% target), Investment portfolio sensitivity, particularly real estate delivered negative returns, Growth deceleration in Private segment from 9% to 5.6% in H1 2026, Swedish business runoff losses (NOK 56M decrease in insurance service results)

Revenue by geography

Revenue by product/service

Workforce by country

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