Gjensidige Forsikring Asa (GJNSF) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and welcome to the first quarter presentation for Insidia. My name is Mitra Negård and I'm Head of Investor Relations. We will start this session with our CEO, Geir Holmgren, who will give you the highlights of the quarter, followed by our CFO, Jostein Amdahl, who will run through the numbers in further detail. And we have plenty of time for a Q&A after that. Geir, please. Thank you Mitra and good morning everyone. I will start with the Danish Supreme Court ruling on the workers compensation scheme announced yesterday. Reducing the compensation threshold. This ruling marks a significant change in the Danish authorities' practice regarding workers' compensation. The Danish Insurance Association expects the Danish government to assume full responsibility for the industry's losses. At this stage, the financial impact remains highly uncertain. Based on our initial assessments, we estimate that the ruling could result in additional claims costs in the range of around 500 to 800 million Danish kroner for Jens Iria. It is key to point out that our reserves will, to a certain extent, absorb such risks. As announced yesterday, we will undertake a thorough review of the ruling and carry out the necessary analysis before providing a reliable estimate of the financial impact. Any related accounting effects will be recognized in the second quarter of 2026. I would like to point out that we do not expect the regular dividend for the 2026 accounting year to be affected by this matter, and we will still expect to deliver on the financial targets for 2026. Turning to page 3. We generated strong insurance results this quarter, driven by efficient operations, disciplined pricing and a consistent focus on serving our customers. The continued loyalty we experienced demonstra...