Baltic, Financial Services, Insurance, Transport
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Friday, 19.04.2024, 18:22
Gjensidige Baltic earns EUR 1.059 mln in 2014
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In 2013, the company earned EUR 5.968 million.
The total amount of premiums collected by Gjensidige Baltic in 2014 reached EUR 62.304 million (in 2013 – EUR 65.156 million).
The amount of insurance indemnities in 2014 reached EUR 42.753 million (in 2013 – EUR 41.515 million).
Net operating costs increased last year as well to EUR 19.56 million from EUR 18.926 million in 2013.
Gjensidige Baltic has two foreign subsidiaries – one in Estonia and another in Lithuania.
On February 2, Gjensidige Forsikring agreed to acquire 99.88% of shares in PZU Lietuva for EUR 54 million. The acquisition is in line with Gjensidige's development strategy in the Nordic region and the Baltic States. The Group's market share in the Baltic States will increase from approximately 7% to approximately 13%. The market share in Lithuania will increase from approximately 7% to approximately 21%.
Gjensidige entered the Baltic States in 2006.
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