Recent Buy: Gjensidige Forsikring

My latest portfolio addition reported it’s Q4/2014 results today. As a result it was down about 5 percent and close to my average price. That was enough for me to make the planned second purchase. On February 4th I bought another 70 shares for 125,00 NOK per share. Gjensidige is now a full position and so far my only Norwegian position.

The report itself (based on a quick browse through) didn’t contain anything extraordinary nor something to get super excited about. The following pretty much sums it up:

Proposed dividend:
The Board has proposed a dividend of NOK 2,950 million for the 2014 financial year, corresponding to NOK 5.90 per share. Ex-dividend date is 24 April 2015.

Highlights 2014 (2013)

Profit before tax: NOK 5,399.6 million (4,574.1)
Profit per share: 8.38 (7.34)
Earned premiums: NOK 20,386.8 million (18,736.9)
Underwriting result: NOK 2,862.3 million (2,019.6)
Combined ratio: 86.0 (89.2)
Cost ratio: 15.0 (15.3)
Financial result: NOK 2,426.3 million (2,480.9)