Gjensidige Forsikring ASA (GJF.OL) on Wednesday reported higher profit for the first quarter supported by improved insurance results.
Profit before tax rose to NOK 2.055 billion from NOK 1.719 billion a year earlier, primarily driven by a higher insurance service result.
Attributable profit from continuing operations increased to NOK 1.548 billion or NOK 3.01 per share from NOK 1.299 billion or NOK 2.53 per share in the prior-year period
Insurance revenue increased to NOK 11.194 billion from NOK 10.158 billion a year earlier.
Insurance service result rose to NOK 2.046 billion from NOK 1.264 billion in the same period last year.
For the full year, the company expects the insurance service result to exceed NOK 7.5 billion.
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