Gjensidige Forsikring (GJNSY) AI Stock Analysis

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Gjensidige Forsikring

(OTC:GJNSY)

74Outperform

Gjensidige Forsikring's robust financial stability and strong earnings performance, as highlighted in its recent earnings call, are significant strengths. While technical indicators show positive momentum, they also suggest caution due to overbought conditions. The valuation is less appealing, with a relatively high P/E ratio. Overall, the company's strengths in financial performance and earnings are tempered by valuation concerns and market conditions.

Gjensidige Forsikring (GJNSY) vs. S&P 500 (SPY)

Market Cap

$11.20B

Dividend Yield2.84%

Average Volume (3M)616.00

Price to Earnings (P/E)23.7

Beta (1Y)0.44

Revenue Growth5.12%

EPS Growth22.13%

CountryUS

Employees4,559

SectorFinancial

Sector Strength81

IndustryInsurance - Diversified

Share Statistics

EPS (TTM)0.22

Shares Outstanding500,000,000

10 Day Avg. Volume354

30 Day Avg. Volume616

Financial Highlights & Ratios

PEG RatioN/A

Price to Book (P/B)N/A

Price to Sales (P/S)2.85

Price to Cash Flow (P/CF)N/A

P/FCF Ratio0.00

Enterprise Value/Market CapN/A

Enterprise Value/RevenueN/A

Enterprise Value/Gross ProfitN/A

Enterprise Value/EbitdaN/A

Forecast

1Y Price TargetN/A

Price Target UpsideN/A

Rating ConsensusN/A

Number of Analyst Covering0

Gjensidige Forsikring Business Overview & Revenue Model

Company DescriptionGjensidige Forsikring ASA (GJNSY) is a leading Nordic insurance group with a strong market presence in Norway, Denmark, Sweden, and the Baltic states. The company's core offerings include a comprehensive range of insurance products such as property and casualty insurance, life insurance, and pension products. Gjensidige's services cater to both individual and corporate clients, providing solutions that cover personal, commercial, and industrial risks.

How the Company Makes MoneyGjensidige Forsikring earns revenue primarily through the underwriting of insurance policies, which involves collecting premiums from policyholders. The company generates income from various types of insurance, including motor insurance, property insurance, health insurance, and liability insurance. Investment income is another significant revenue stream, derived from the management of the premiums collected, which are invested in a diversified portfolio of financial assets. Additionally, Gjensidige benefits from economies of scale and advanced risk assessment capabilities, enabling efficient operations and competitive pricing. Strategic partnerships and collaborations with financial institutions and other entities further enhance its market reach and product offerings, contributing to its overall earnings.

Gjensidige Forsikring Financial Statement Overview

Summary

Gjensidige Forsikring shows a well-capitalized balance sheet with sound equity ratios, supporting its financial stability. While profitability metrics are strong, recent declines in revenue and free cash flow raise concerns about growth sustainability. Efficient cost management and low leverage are key strengths, but maintaining revenue growth and cash flow generation in a competitive insurance market poses ongoing challenges.

Income Statement

Positive

Gjensidige Forsikring exhibits strong gross profit margins consistently at 100%, indicating efficient revenue generation relative to costs. The net profit margin for 2023 was approximately 10.23%, a solid figure for the insurance industry. However, the revenue decreased by 8.29% from 2023 to 2024, signaling potential challenges in sustaining growth. The absence of EBIT and EBITDA for 2024 limits a comprehensive view of operational efficiency.

Balance Sheet

Positive

The company maintains a moderate debt-to-equity ratio of 0.21 for 2024, reflecting prudent financial leverage. The equity ratio is 15.17%, indicating a conservative capital structure with a strong equity buffer. Return on equity was robust at 15.89% for 2023, but the slight decline in equity from 2023 to 2024 suggests potential pressures on maintaining this performance.

Cash Flow

Neutral

Gjensidige Forsikring demonstrates solid free cash flow generation, with a free cash flow of NOK 3,788.9 million in 2024 despite a decline from 2023. The operating cash flow to net income ratio is unavailable, limiting insights into cash earnings quality. The decrease in free cash flow by 7.32% from 2023 to 2024 highlights potential liquidity pressures.

Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Breakdown
Income Statement		Total Revenue
37.01B	40.36B	32.76B	31.91B	29.23B
	Gross Profit
37.01B	39.79B	32.76B	31.91B	29.23B
	EBIT
0.00	1.14B	5.82B	8.56B	6.16B
	EBITDA
0.00	585.00M	0.00	8.67B	6.34B
	Net Income Common Stockholders
4.13B	4.13B	3.44B	7.14B	4.95B
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
3.69B	2.99B	3.20B	2.35B	2.86B
	Total Assets
171.49B	148.28B	135.15B	129.82B	118.31B
	Total Debt
5.41B	4.36B	3.78B	3.67B	2.52B
	Net Debt
1.73B	1.37B	588.80M	1.32B	-345.90M
	Total Liabilities
145.47B	124.05B	109.28B	104.62B	93.03B
	Stockholders Equity
26.01B	24.23B	25.87B	25.20B	25.28B
Cash Flow		Free Cash Flow
3.79B	4.09B	4.15B	6.49B	6.82B
	Operating Cash Flow
0.00	4.89B	4.71B	7.03B	7.33B
	Investing Cash Flow
-447.60M	-1.04B	2.75B	-1.40B	-513.20M
	Financing Cash Flow
-2.98B	-4.09B	-4.18B	-6.11B	-6.44B

Gjensidige Forsikring Technical Analysis

Technical Analysis Sentiment

Positive

Last Price22.80

Price Trends

50DMA

21.17

Positive

100DMA

19.51

Positive

200DMA

18.35

Positive

Market Momentum

MACD

0.27

Positive

RSI

59.83

Neutral

STOCH

73.92

Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GJNSY, the sentiment is Positive. The current price of 22.8 is above the 20-day moving average (MA) of 22.28, above the 50-day MA of 21.17, and above the 200-day MA of 18.35, indicating a bullish trend. The MACD of 0.27 indicates Positive momentum. The RSI at 59.83 is Neutral, neither overbought nor oversold. The STOCH value of 73.92 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GJNSY.

Gjensidige Forsikring Peers Comparison

Overall Rating

UnderperformOutperform

Sector (63)

Financial Indicators

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
HIG	79 Outperform	$33.58B	11.37	19.58%	1.68%	8.19%	29.77%
ORI	78 Outperform	$9.30B	11.60	14.17%	2.88%	13.41%	55.56%
GJNSY	74 Outperform	$11.20B	23.74	22.09%	2.84%	5.12%	22.13%
PFG	66 Neutral	$16.52B	11.00	14.28%	3.96%	18.02%	171.70%
AEG	65 Neutral	$9.47B	13.42	9.36%	4.87%	-5.03%	―
Sector *	63 Neutral	$12.75B	9.36	8.64%	84.32%	13.82%	-3.89%
EQH	56 Neutral	$14.49B	12.50	61.74%	2.03%	16.81%	14.00%

* Financial Sector Average

Performance Comparison

GJNSY

Gjensidige Forsikring

23.06

8.60

59.47%

AEG

Aegon

6.10

0.51

9.12%

HIG

Hartford Financial

117.16

21.10

21.97%

ORI

Old Republic International

37.75

11.22

42.29%

PFG

Principal Financial

73.09

-2.46

-3.26%

EQH

Equitable Holdings

47.33

12.47

35.77%

Gjensidige Forsikring Earnings Call Summary

Earnings Call Date: Oct 24, 2025 | % Change Since: 26.53% | Next Earnings Date: Jan 28, 2026

Earnings Call Sentiment Positive

The earnings call reflected a strong financial performance with substantial revenue growth, an improved combined ratio, and a solid dividend proposal. While there were challenges such as elevated motor claims and issues in Denmark, the positive aspects significantly outweigh the negatives.

Highlights

Strong Profit Before Tax

The profit before tax was NOK 1.605 billion for Q4 2024, showing strong efforts to improve results.

Increased Insurance Revenue

Insurance revenue increased by almost 12%, contributing to a return on equity of 22.7%.

Improved Combined Ratio

The combined ratio improved by 1.1 percentage points to 86% for the year, indicating robust operations.

Strong Dividend Proposal

The Board proposed total dividends of NOK 5 billion, with a regular dividend up almost 3% from 2023.

High Retention Rates

Retention rates remained high in Norway, showing strong customer loyalty despite price increases.

Positive Investment Returns

Investments generated returns of NOK 208 million, contributing to the overall financial performance.

Continued Strong Growth

The company delivered a pretax profit of NOK 6.823 billion for the year with revenue growth of 11%.

Solid Capital Position

The solvency ratio at year-end 2024 was 185%, allowing financial flexibility and maintaining an S&P A rating.

Lowlights

Elevated Motor Claims

Motor claims frequency and severity in Norway continued to put pressure on profitability.

Challenges in Denmark

Private Denmark showed lower profitability due to reserve strengthening and unsatisfactory results.

Negative Pension Segment Result

The Pension segment reported a pretax loss of NOK 58 million due to higher interest rates.

Weather-Related Volatility

The claims frequency for property insurance is prone to quarterly volatility due to weather conditions.

Company Guidance

During the Q4 2024 earnings call for Gjensidige, the company provided detailed financial metrics illustrating their strong performance and strategic initiatives. The profit before tax was reported at NOK 1.605 billion, with insurance service results reaching NOK 1.670 billion, significantly up year-on-year. The combined ratio improved to 83.3%, with a return on equity of 22.7%. For the full year, Gjensidige achieved a pre-tax profit of NOK 6.823 billion, with a revenue growth of 11% and a combined ratio improvement to 86%. The solvency ratio at year-end was 185%, demonstrating a robust capital position. Additionally, the Board proposed total dividends of NOK 5 billion for the year, including a regular dividend of NOK 9 per share and a special dividend of NOK 1 per share. The company also highlighted ongoing pricing measures, particularly in motor and property insurance, with average price increases reaching over 16% to address claims inflation and maintain profitability.

Glossary

OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.

NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.

UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.