Gjensidige re-initiated with a Hold at Berenberg

Berenberg analyst Carl Lofthagen re-initiated coverage of Gjensidige (GJNSY) with a Hold rating and NOK 250 price target as part of the firm’s coverage of Nordic non-life insurers. The attractive Nordic non-life market conditions mean that this sector trades at a high premium to the broader European insurance sector, which is “justified,” the analyst tells investors.