What is "gjensidige"

Gjensidige Forsikring ASA is a Norwegian insurance company. Though the company has roots back to 1689 when the fire treasury at Nes was founded, Gjensidige in its present form was founded in 2003 when the insurance division of Gjensidige NOR was not made part of its merger with Den norske Bank. Previously organised as a mutual insurance company, Gjensidige demutualised and listed on the Oslo Stock Exchange in December 2010. The firm, headquartered in Oslo, has a 32.1% share of the Norwegian insurance market. The company has 176 branches and 1.5 million customers. Gjensidige has subsidiaries in Denmark, Sweden and The Baltics.

The company offers all kinds of insurance and is divided into three main sectors: private, agriculture and business. It also offers retail banking products through its subsidiary Gjensidige Bank as well as pensions and savings products.

Gjensidige owns 24.33% of the stocks in Storebrand, one of the largest life insurance companies in Scandinavia.