[ad_1]
Gjensidige Forsikring reported after-tax profit of NOK 873.1 million in the third quarter of 2018, compared with NOK 1,312.7 million in the same period of the previous year.
The profit does not include the profits of Gjensidige Bank, which are classified as discontinued operations.
According to TDN Direkt, the consensus indicates a net profit of 920 million NOK.
Earnings per share amounted to NOK 1.75 against NOK 2,63 at the same crossroads last year and is expected to reach NOK 1.84.
recommendation
Four analysts were ahead of quarterly with the recommendation to buy or overweight the security, three recommended and two underweight.
The average price target is 139 crowns.
Before tax
Profit before tax is high at NOK 964.0 million compared with NOK 1,578.1 million last year and is expected to be NOK 1,079 million.
The result of non-life insurance activities, measured by the result of the insurance, amounts to 573.4 million NOK, against 1 150.2 million NOK, which corresponds to a combined ratio of 90, 6, against 81.0.
Taking into account restructuring provisions related to the restructuring of NOK 80 million, the result was NOK 653.4 million.
The financial return was 0.8%, compared to 0.9%, which corresponds to NOK 426.5 million, compared to NOK 477.3 million in the same quarter the previous year.
Read more in report and presentation here
"The result is significantly affected by the damage caused by the extreme weather conditions that continued in the third quarter, in addition to the expected weakening of motor vehicle profitability in Norway, but we are pleased with the positive trend in profits from our activities outside of Norway.In the future, we will focus on increasing profitability through price adjustments, profitable operations and the best customer experience on the market. Nordic market, "said CEO Helge Leiro Baastad.
[ad_2]
Source link
