Gjensidige Forsikring ASA ( (GB:0OJC) ) has shared an update.
Gjensidige Forsikring ASA has announced its acquisition of Buysure AS and its subsidiary, Claims Handling AS, for up to NOK 430 million. This strategic move, expected to close in April 2025, will enhance Gjensidige’s market presence in change of ownership insurance products and facilitate cross-selling opportunities. The acquisition, which includes a five-year agreement with real estate agents covering 20% of Norway’s private real estate transactions, is anticipated to generate approximately NOK 500 million in annual insurance revenue over time. However, it will also reduce Gjensidige’s solvency ratio by about 4 percentage points. Buysure, with 29 employees and a profit of NOK 34.2 million in 2024, will be integrated into the Gjensidige Group.
More about Gjensidige Forsikring ASA
Gjensidige is a leading Nordic insurance group listed on the Oslo Stock Exchange, with about 4,600 full-time employees. The company offers a range of insurance products in Norway, Denmark, and Sweden, and also provides pension and savings services in Norway. In 2024, Gjensidige reported insurance revenue of NOK 39 billion and total assets of NOK 171 billion.
YTD Price Performance: 13.91%
Average Trading Volume: 38,122
Technical Sentiment Consensus Rating: Sell
Current Market Cap: NOK114.7B
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