The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Hskon Astrup - DNB Markets, Research Division - Analyst
: Two questions from me. First one, a follow-up on the core IT system. So I didn't catch when you expect to implement this in Norway. And can you
talk a little bit about the implementation risk in Norway, given the hiccups that you have experienced in Denmark? That was the first question. And
the second question's regarding the upcoming CMD. Should we expect any changes to your financial targets? Or is it more of an educational
session?
Question: Hskon Astrup - DNB Markets, Research Division - Analyst
: Okay. And that can happen at the CMD, if I understand you correctly or any other time.
Question: Thomas Svendsen - SEB, Research Division - Analyst
: Two questions. First on motor Norway. So on this increased deductibles, could you just give us sort of what is the typical deductible for a typical
car on that product today? And how much do you intend to increase it in kroner, just so we get a feeling of how much that is? And second question
on the solvency ratio. How are the process going on getting approved your own internal model? And if you -- that one is approved, do you consider
the difference between your own model and the [partial] model to be excess capital? Or should we expect your ratio or range of solvency to go
up in connection with having that model approved?
Question: Thomas Svendsen - SEB, Research Division - Analyst
: But if it is your casco insurance, you typically maybe have NOK 7,000 for a car. And I guess that's -- people found out that NOK 7,000 is cheap to get
your car -- your bumper repaired. So are you also intending to increase that typical NOK 7,000 for a casco claim?
Question: Thomas Svendsen - SEB, Research Division - Analyst
: Okay. So not decided on the casco, only on the glass and the roadside.
Question: Hans Rettedal Christiansen - Danske Bank A/S, Research Division - Analyst
: So just touching back on the underlying frequency loss ratio and you've covered the motor inflation, but in the report, you're also mentioning
agriculture and marine insurance where you're seeing lower profitability. Could you just sort of explain a little bit on the size of those lines and also
what you're seeing there?
Question: Hans Rettedal Christiansen - Danske Bank A/S, Research Division - Analyst
: Okay. Are you able to split the NOK 559 million that you have in claims costs related to Hans and torrential rain and damages in crops? Sort of how
much of that is the crop part of the equation?
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OCTOBER 20, 2023 / 7:00AM, GJFG.OL - Q3 2023 Gjensidige Forsikring ASA Earnings Call
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