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Norway: Insurer Gjensidige's second quarter 2014 pre-tax profit up 62%

July 16, 2014 - 6:00am

Norwegian nonlife insurer Gjensidige Forsikring A.S.A. recorded a 62% year-on-year increase in pre-tax profit to 1.75 billion Norwegian kroners ($285 million) in the second quarter of this year, Reuters reported.

The insurer's chief executive Helge Leiro Baastad said "this is the best underwriting result we have ever delivered in a single quarter." Mr. Baastad added that "the result is affected by a benign weather situation in the period" and also "reflects continued good competitive strength and solid operations."

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