Gjensidige Forsikring ASA and Gjensidige Forsikring Group are granted approval
from the Financial Supervisory Authority of Norway (FSA) for a Partial Internal
Model (PIM) under the Solvency II regulation with effect from 31 December 2017.
The model approved is more conservative than the model Gjensidige applied for.
As of 31 December 2017, the regulatory Solvency II ratio was 137 per cent based
on the Standard Formula. Based on the approved Partial Internal Model, the
regulatory Solvency II ratio is estimated to be in the area 145-155 per cent.
The FSA has specified some areas which have to be further validated and
documented to achieve approval for Gjensidige's original version of the model.
The approval and its conditions will be reviewed by the Board of Gjensidige
before the appeal deadline.
The S&P A-rating will not be affected by the FSA decision.
This information is subject to disclosure under the Norwegian Securities Act
section §5-12
Contact persons, Gjensidige Forsikring ASA:
Head of Investor Relations: Janne Flessum, tel.: +47 915 14 739
Investor Relations Officer: Anette Bolstad, Tel: +47 416 77 722
Head of Media Relations: Øystein Thoresen, tel.: +47 952 33 382