Gjensidige Forsikring (OTCPK:GJNS.Y) Update / Briefing Transcript

Gjensidige Forsikring Q3 2025 Pre-Close Call Summary Company Overview - Company: Gjensidige Forsikring (OTCPK:GJNS.Y) - Event: Third quarter 2025 pre-close call - Date: September 29, 2025 Key Points Industry Context - The call highlighted the seasonality in the insurance business, noting that summer quarters (Q2 and Q3) typically have lower claims ratios compared to winter quarters (Q1 and Q4) [3] - There were no significant natural peril events in Scandinavia during the quarter, with overall weather being warmer and drier than historical norms [3] Financial Updates - The company will release its Q3 results on October 24, 2025, with a silent period starting on October 1 [2] - A write-down of NOK 123 million related to the sale of the Baltics business (ABG) was noted in the Q3 2024 report, impacting the comparison for this quarter [3] - The termination of the Core Suite IT system for the pension business will impact profit before tax by approximately NOK 400 million in Q3 2025, but will not affect the group's eligible owned funds in the Solvency II calculation [4] - The expectation for large losses in 2025 is approximately NOK 500 million per quarter, which is an estimate and not a guiding figure [5] Capital and Solvency - The eligible funds at the end of Q2 included approximately NOK 510 million of the NOK 900 million Tier 2 bond issued in October of the previous year [6] - The net increase in owned funds from the new Tier 1 loan and buybacks is NOK 711 million, which will be included in the Q3 calculation of owned funds [6] Investment Portfolio - The company plans to estimate returns based on the same asset allocation as the previous quarter, applying returns on listed indices [7] Additional Notes - The call included reminders for participants to submit their estimates by October 10, 2025, and the consensus will be published on October 17, 2025 [2] - There was no Q&A session as no questions were raised during the call [8]