The implementation of Gjensidige Pensjonsforsikring's new core-IT system, CoreSuite, will be discontinued. Over the course of the project period, it has become increasingly evident that the selected solution does not adequately address the evolving business requirements.

The termination will impact profit before tax for the pension business in the Group accounts by approximately NOK 400 million in the third quarter of 2025. This will not impact the Group's eligible own funds in the Solvency II calculation and hence its dividend capacity, as own funds do not include intangible assets.

Recent technological advancements have created opportunities to extend the operational lifespan of the existing system. Gjensidige Pensjonsforsikring will use the time ahead to update its development strategy to reflect renewed business and system needs.

The assessment and termination of CoreSuite is unrelated to the implementation of the new core IT system in the general insurance business of the Group. 

Contact:

Mitra Hagen Negård, Head of Investor Relations, tel. +47 957 93 631
 

Gjensidige is a leading Nordic insurance group listed on the Oslo Stock Exchange. We have approximately 4,700 full time employees and offer insurance products in Norway, Denmark, Sweden and the Baltic states. In Norway, we also provide pension and savings solutions. In 2024, the Group's insurance revenue was NOK 39 billion, and total assets amounted to NOK 171 billion.

For more information, visit: www.gjensidige.com