Gjensidige issues NOK 1 billion bond. Gjensidige stock trades above EUR 23.74

Published on 10/05/2026 at 12:19 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Gjensidige completed a 30-year Tier 2 issue at NOK 1.00 billion on September 15, 2026. Gjensidige stock costs EUR 23.91 versus EUR 23.74.

Flatlay mit Aktienzertifikat, Karte und Versicherungsunterlagen auf Holztisch — Flatlay-Arrangement mit Aktienzertifikat und ISIN-Karte symbolisiert Gjensidige Forsikring ASA, ISIN NO0010582521, Versicherungsbranche, Illustration mit AI erstellt.

Gjensidige Forsikring (ISIN NO0010582521) was trading at EUR 23.91 at Lang & Schwarz on October 5, 2026 at 12:13 p.m. CEST, up 0.72 percent versus the prior close of EUR 23.74 on October 2, 2026. The insurer completed a NOK 1.00 billion subordinated Tier 2 bond issue on September 15, 2026, according to MarketScreener.

Bond adds NOK 1.00 billion

The new instrument has a 30-year tenor and a first call option after 5.5 years. Its floating coupon is set at 3-month NIBOR plus 1.10 percent, while settlement was expected on September 22, 2026, the same MarketScreener report said.

The issue is Solvency II compliant and carries an expected S&P rating of BBB+. Gjensidige said the bond would be applied for listing on Euronext Oslo Bors, giving the transaction a direct capital and funding relevance for the insurance group.

Insurance figures set the baseline

On its investor-relations page, Gjensidige reports an insurance service result of NOK 7.1 billion for fiscal year 2025 and a combined ratio of 83.4 percent for the same period. The combined ratio is a key underwriting measure, so the two figures frame the bond issue against the group's operating profitability rather than treating the transaction as a standalone financing event.

Analyst target remains above price

The MarketScreener company page lists 16 analysts with an average target of NOK 291.97 and an Outperform consensus. Those figures are stated in Norwegian kroner and cannot be compared directly with the euro Lang & Schwarz quote, but they show that the analyst reference level is a separate market measure from the German trading price.

For the German trading perspective, Gjensidige was trading at EUR 23.91 at Lang & Schwarz on October 5, 2026 at 12:13 p.m. CEST, plus 0.72 percent versus the EUR 23.74 prior close dated October 2, 2026. The further course of trading is shown by the continuously updated real-time quote of Gjensidige stock.