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Gjensidige Forsikring (GJNSY)
OTHER OTC:GJNSY
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Earnings Data
Report Date
Jan 24, 2025Before Open Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
―Last Year’s EPS
$0.21Same Quarter Last Year
Based on 0 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 22, 2024
|% Change Since: -1.10%
|Next Earnings Date:Jan 24, 2025
Earnings Call Sentiment|Neutral
The earnings call presented a mixed outlook with strong profit before tax and revenue growth, but challenges in claims costs and volatility in property insurance. The company faces difficulties in meeting its combined ratio target due to increased claims, particularly in Norway. Despite these challenges, the company shows proactive measures in pricing and operational efficiency.Company Guidance
During the Gjensidige Q3 2024 earnings call, key metrics highlighted included a profit before tax of NOK 2.215 billion and a general insurance service result of NOK 1.590 billion, reflecting strong growth despite higher claims costs in Norway. The insurance revenue for the group increased by nearly 12%, contributing to an annualized return on equity of 23.5%. The company also reported a solvency ratio of 164%, although it acknowledged increased underwriting risk due to growth and changes in currency rates. Price increases were implemented across various segments, with motor insurance premiums expected to rise by an average of 17.5%, aiming for an over 40% increase by year-end. The group's cost ratio improved to 11.8%, and assets under management in the pension segment rose to NOK 84 billion. Despite higher claims and volatility, Gjensidige maintained its financial targets for 2025 and 2026, emphasizing strong capital discipline and ability to uphold its dividend policy.Strong Profit Before Tax
Gjensidige reported a profit before tax of NOK 2.215 billion in Q3 2024, significantly higher than the same quarter last year, driven by insurance service results, pension business, and investment returns.
Insurance Revenue Growth
The insurance revenue for the group increased by almost 12% year-on-year, with a strong revenue growth in private segments in Norway and Denmark.
Investment Portfolio Performance
Investments generated returns of NOK 1.307 billion, contributing to an annualized return on equity of 23.5%.
Operational Efficiency
Cost ratio improved to 11.8% in Q3, driven by efficiency measures and growth in insurance revenue.
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GJNSY Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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GJNSY Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 22, 2024 | $18.22 | $18.36 | +0.77% |
| Jul 15, 2024 | $18.50 | $17.06 | -7.78% |
| Apr 25, 2024 | $15.27 | $16.15 | +5.76% |
| Jan 24, 2024 | $16.37 | $16.18 | -1.16% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Gjensidige Forsikring (GJNSY) report earnings?
Gjensidige Forsikring (GJNSY) is schdueled to report earning on Jan 24, 2025, Before Open Not Confirmed.
What is Gjensidige Forsikring (GJNSY) earnings time?
Gjensidige Forsikring (GJNSY) earnings time is at Jan 24, 2025, Before Open Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is GJNSY EPS forecast?
Currently, no data Available
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