Norway

Gjensidige Insurance closes eight offices in Norway

The restructuring and costs associated with the crop crisis in the summer has led Gjensidige Insurance to pay NOK 160 million. Eight offices are laid down by the company.

Total of NOK 80 million is put together in the third quarter for the restructuring, states company. It also has reduced the number of employees in Sweden and Denmark branches.

“As a result of continued focus on improved distribution efficiency, Gjensidige will shut down eight branch offices in Norway, with personnel reduction and termination of leasehold contracts,” states Gjensidige Insurance.

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“The provisions are linked to offices that are planned to be closed, which has been communicated internally and externally at the places where the eight offices are located,” said Øystein Thoresen, Communications Manager Gjensidige Insurance, to E24 .

Thoresen says that most of the employees affected will be offered jobs elsewhere.

“There is no exact number we are working with, but there are not so many employees. These are smaller offices where typically there are two to three employees, says Thoresen.

More online and telephone banking will be a part of customer solution.

crop damage

NOK 80 million related to crop damage during the dry summer is registered by the company as compensation.

“The warm and dry weather this summer has caused considerable damage to farmlands in Norway. Damage to crops in Norway related to drought is largely covered by the Norwegian government. Gjensidige, however, covers parts of the compensation, in addition to compensation from the government, the company discloses.

However, the exact amount is still uncertain as the process of government compensation is a prerequisite for forwarding claims to Gjensidige, and the fact that the government has set the application deadline until 31 October.

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