Valuation Result

Final Brand Value

Gjensidige — Insurance

Valuation date: 10/29/2026

Total Brand Value

NOK 12.0B

This result turns the selected legal, brand, benchmark and discount-rate assumptions into one reviewable brand value estimate.

Brand Strength

78/100

Royalty Rate

2.7%

Discount Rate

9.5%

Benchmark recommendation not unlocked for this result

Sensitivity snapshot

Quick decision check for discount rate, royalty rate and long-term growth.

Variable

Lower input

Current

Higher input

WACC (Discount Rate)

9.5%

-1.0%

NOK 13.7B

9.5%

NOK 12.0B

+1.0%

NOK 10.7B

Royalty Rate

2.7%

-0.5%

NOK 9.8B

2.7%

NOK 12.0B

+0.5%

NOK 14.2B

Terminal Growth

1.5%

-0.5%

NOK 11.5B

1.5%

NOK 12.0B

+0.5%

NOK 12.6B

Brand Strength changes can also be explored to show their potential effect on brand value. Contact info@brandvaluator.se if you want to explore this for strategy, planning and budgeting.

Revenue Base

NOK 42.8B

Legal Protection

76/100

Long-term Growth

1.5%

Recommendation basis

Brand-strength range • Pro

This reference case derives its royalty rate by applying the brand-strength score to a documented industry royalty ceiling.

This valuation uses benchmark support informed by external market references and curated internal calibration.

Use this section to confirm whether the result reflects unlocked benchmark guidance or a non-benchmark method.

Forecast profile

5 years explicit forecast

High growth: 2.5%

Base growth: 2.0%

Long-term growth: 1.5%

Value build

Value for planning period: NOK 3.8B

Terminal value: NOK 8.3B

How the valuation is built

Valuation Build

Royalty Relief DCF

Year	Revenue	Royalty	After Tax	PV
Y1	NOK 43,838,737,500	NOK 1,196,797,534	NOK 897,598,150	NOK 857,777,972
Y2	NOK 44,934,705,937	NOK 1,226,717,472	NOK 920,038,104	NOK 802,942,851
Y3	NOK 46,058,073,586	NOK 1,257,385,409	NOK 943,039,057	NOK 751,613,171
Y4	NOK 46,979,235,058	NOK 1,282,533,117	NOK 961,899,838	NOK 700,132,817
Y5	NOK 47,918,819,759	NOK 1,308,183,779	NOK 981,137,835	NOK 652,178,514
Explicit PV (Y1–Y5)				NOK 3,764,645,325
Terminal Value (undiscounted)				NOK 12,448,186,276
Terminal PV (discounted)				NOK 8,274,514,898
Total Brand Value				NOK 12,039,160,223

Supporting context

This section explains the evidence and judgment used to support the recommendation and the legal, brand and financial assumptions used in the valuation.

Reference case

Gjensidige

Prepared reference case

Indicative upper-exposure value of the Gjensidige insurance name across its operating markets. The base includes group insurance revenue and can also contain income under Gouda and other banners. It does not value underwriting assets, investments, policy liabilities, customer contracts or enterprise value.

This is one all-market scenario, not a sum of country values. NOK 42.7695bn group insurance revenue is an upper-exposure base because Gouda and other separately branded activities have not been removed. Norwegian satisfaction and loyalty studies inform outside-in scores but do not measure brand strength in every market. The 3.50% ceiling and 2.73% selected royalty are analyst assumptions, not an observed licence. Opening hypothetical rent of NOK 1.168bn is 16.5% of the reported NOK 7.081bn group insurance service result; the denominator is not brand-specific. Legal components are estimates, not a trademark opinion.

Informed by numerous sources including company reporting, investor materials, analyst research, market data and selected benchmark references where relevant.

Key inputs

Reported = directly sourced • Estimated = selected judgment • Inferred = derived from broader evidence • Assumed = inclusion choice

Revenue base

NOK 42.7695bn FY2025 group insurance revenueinferred

Planning growth

2.50% for 3 years, then 2.00%estimated

Long-term growth

1.50%estimated

Royalty rate selected

2.73%estimated

Discount rate

9.50%estimated

Brand Strength

78/100 (B+)estimated

Legal analysis

76/100estimated

Company disclosures

These links lead to company-issued materials. BrandValuator cross-checks indicative estimates against multiple sources; the final assumptions and judgments are our own. Each input is labeled by evidence status above.

Gjensidige Annual Report 2025: group insurance revenue and insurance service result Gjensidige operating segments and markets

Legal Protection

trademark Status88

scope Of Rights80

risk Profile67

litigation70

contractual Rights74

goodwill Evidence82

regulatory Compliance70

Brand Strength

marketing Investment72

quality82

availability82

distinctive Brand Codes88

mental Availability82

consideration78

trust84

choice Share76

penetration78

price Elasticity64

revenue Premium73

margin Premium75

stability77