The Board of Directors in Gjensidige Forsikring ASA has appointed Geir Holmgren
as new Chief Executive Officer (CEO) in Gjensidige. He will succeed Helge Leiro
Baastad who has led the Group since 2003. Holmgren will assume the position on 2
January 2023.

Helge Leiro Baastad will retire from the position in accordance with his
employment contract. He will continue to hold the role of CEO until Geir
Holmgren joins Gjensidige.

  · Helge Leiro Baastad has led Gjensidige through substantial changes. From
being a part of Gjensidige NOR to becoming a solid and profitable listed
company. He has been of significant importance for the company's development and
growth - and will continue to leave traces until he steps down.
A strong, value-based culture with focus on management, performance and
deliveries has resulted in high value creation over many years. The Board
emphasizes continuation of the solid fundamentals Gjensidige has today. The
current strategy and goals, with growth ambitions within general insurance in
the Nordics and the Baltics thus stand firm. The Board is focused on stability
and continuity in ongoing efforts, at the same time as the company develops
further, in order to meet future possibilities and challenges.

We are confident that Geir Holmgren has the managerial and personal qualities
which are necessary to lead the Group further. I am pleased that Geir Holmgren
has accepted to become Gjensidige's next CEO. He has extensive experience in the
insurance industry and in a listed company. He has a very strong strategic
business understanding and stands as a strong and including leader, says Chair
Gisele Marchand.

Geir Holmgren (50) is currently a member of Storebrand's Executive Management
Team, responsible for Corporate Market. He is also Managing Director of
Storebrand Life Insurance. He has been employed by the Group since 1997 and held
numerous management positions. Holmgren has been a member of the Executive
Management Team in the last ten years, with among others Nordic responsibility
for Guaranteed Pension and Product and Customer Services respectively, in
parallel with holding the position of Managing Director of Storebrand Life
Insurance.

  · It is with both pride and humbleness I step into the role of leading
Gjensidige, and it is an honour to be given the opportunity to succeed Helge.
The insurance industry is changing, with new customer needs and technological
opportunities. I am looking forward to further develop the market leader in
Norway and realise growth ambitions in the Nordics and the Baltics, together
with all the competent and engaged employees in Gjensidige, says Geir Holmgren.

Holmgren holds a Cand. Scient degree from the University of Oslo. He has also
completed a business management course at Griffith University in Brisbane,
Australia.

Gjensidige will host a webcast today at 12:00 CET during which the Chair of the
Board in Gjensidige Forsikring, Gisele Marchand, will discuss the appointment of
new CEO. Helge Leiro Baastad and Geir Holmgren will also be present. The webcast
can be viewed live via link on www.gjensidige.no/ir. Participants can send in
questions during the webcast. The webcast and following Q&A will be held in
English. A replay will be available later today.

This release contains inside information related to Gjensidige Forsikring ASA
pursuant to the EU Market Abuse Regulation and is subject to the disclosure
requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.

This release is issued by Jon Aniksdal, Communication Manager at Gjensidige
Forsikring ASA. Date and time of publication 08:00 CET, 31.05.2022.

Contact persons Gjensidige Forsikring ASA:
Head of Communication: Øystein Thoresen, Tel: + 47 952 33 382
Head of Investor Relations: Mitra H. Negård, Tel: +47 957 93 631

Gjensidige is a leading Nordic insurance group listed on the Oslo Stock
Exchange. We have about 3,800 employees and offer insurance products in Norway,
Denmark, Sweden and the Baltic states. In Norway, we also offer pension and
savings. The Group's operating income was NOK 30 billion in 2021, while total
assets were NOK 130 billion.