The Supervisory Board of Gjensidige Forsikring ASA
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Candidates Nominated to the Board of Directors in Gjensidige Forsikring ASA
Office translation for information purpose only Appendix 18 Candidates nominated to the Board of Directors in Gjensidige Forsikring ASA Per Andersen Born in 1947, lives in Oslo Occupation/position: Managing Director, Det norske myntverket AS Education/background: Chartered engineer and Master of Science in Business and Economics, officer’s training school, Director of Marketing and Sales and other positions with IBM, CEO of Gjensidige, CEO of Posten Norge and Managing Director of ErgoGroup, senior consultant to the CEO of Posten Norge, CEO of Lindorff. Trond Vegard Andersen Born in 1960, lives in Fredrikstad Occupation/position: Managing Director of Fredrikstad Energi AS Education/background: Certified public accountant and Master of Science in Business and Economics from the Norwegian School of Business Economics and Administration (NHH) Offices for Gjensidige: Member of owner committee in East Norway Organisational experience: Chairman of the Board for all FEAS subsidiaries, board member for Værste AS (regional development in Fredrikstad) Hans-Erik Folke Andersson Born in 1950, Swedish, lives in Djursholm Occupation/position: Consultant, former Managing Director of insurance company Skandia, Nordic Director for Marsh & McLennan and Executive Director of Mercantile & General Re Education/background: Statistics, economy, business law and administration from Stockholm University Offices for Gjensidige: Board member since 2008 Organisational experience: Chairman of the Board of Semcon AB, Erik Penser Bankaktiebolag and Canvisa AB and a board member of Cision AB. Per Engebreth Askildsrud Born in 1950, lives in Jevnaker Occupation/position: Lawyer, own practice Education/background: Law Offices for Gjensidige: Chairman of the owner committee Laila S. Dahlen Born in 1968, lives in Oslo Occupation/position: Currently at home on maternity leave. -
View Annual Report
ANNUAL REPORT 2015 www.bakkafrost.com Faroese Company Registration No.: 1724 TABLE OF CONTENTS Table of Contents Chairman’s Statement 4 Statement by the Management and the Board of Directors 6 Key Figures 10 Bakkafrost’s History 12 Group Structure 16 Operation Sites 20 Main Events 22 Operational Review 24 Financial Review 28 Operational Risk and Risk Management 38 Financial Risk and Risk Management 42 Outlook 44 Business Review 46 Business Objectives and Strategy 62 BAKKAFROST 2 ANNUAL REPORT 2015 TABLE OF CONTENTS Operation 64 Health, Safety and the Environment 68 Shareholder Information 70 Directors’ Profiles 72 Group Management’s Profiles 76 Other Managers’ Profiles 78 Corporate Governance 80 Statement by the Management and the Board of Directors on the Annual Report 81 Independent Auditor’s Report 82 Bakkafrost Group Consolidated Financial Statements 84 Table of Contents – Bakkafrost Group 85 P/F Bakkafrost – Financial Statements 133 Table of Contents – P/F Bakkafrost 134 Glossary 147 BAKKAFROST 3 ANNUAL REPORT 2015 CHARIMAN’S STATEMENT Chairman’s Statement Bakkafrost has in recent years grown into one of the largest companies in the Faroe Islands. Our aim to run Bakkafrost responsibly and sustainably is important to our entire stakeholders, i.e. employees, shareholders and society. Bakkafrost has a growth strategy of creating sustainable values and not just short-term gains. This strategy demands daily awareness of opportunities and threats to our operations from both the board, the management and the employees. RÚNI M. HANSEN Chairman of the Board 810 million (DKK) The result after tax for 2015 BAKKAFROST 4 ANNUAL REPORT 2015 CHARIMAN’S STATEMENT March 2015 marked the five years’ milestone since Bakka- commence production in 2016, and our processing opera- frost was listed on Oslo Stock Exchange. -
Gjensidige Bank Investor Presentation Q1 2017
Gjensidige Bank Investor Presentation Q1 2017 4. May 2017 Disclaimer The information contained herein has been prepared by and is the sole responsibility of Gjensidige Bank ASA and Gjensidige Bank Boligkreditt AS (“the Company”). Such information is confidential and is being provided to you solely for your information and may not be reproduced, retransmitted, further distributed to any other person or published, in whole or in part, for any purpose. Failure to comply with this restriction may constitute a violation of applicable securities laws. The information and opinions presented herein are based on general information gathered at the time of writing and are therefore subject to change without notice. While the Company relies on information obtained from sources believed to be reliable but does not guarantee its accuracy or completeness. These materials contain statements about future events and expectations that are forward-looking statements. Any statement in these materials that is not a statement of historical fact including, without limitation, those regarding the Company’s financial position, business strategy, plans and objectives of management for future operations is a forward-looking statement that involves known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding the Company’s present and future business strategies and the environment in which the Company will operate in the future. The Company assumes no obligations to update the forward-looking statements contained herein to reflect actual results, changes in assumptions or changes in factors affecting these statements. -
2626667.Pdf (1.837Mb)
BI Norwegian Business School - campus Oslo GRA 19703 Master Thesis Thesis Master of Science Evaluating the Predictive Power of Leading Indicators Used by Analysts to Predict the Stock Return for Norwegian Listed Companies Navn: Amanda Marit Ackerman Myhre Hadi Khaddaj Start: 15.01.2020 09.00 Finish: 01.09.2020 12.00 GRA 19703 0981324 0983760 Evaluating the Predictive Power of Leading Indicators Used by Analysts to Predict the Stock Return for Norwegian Listed Companies Supervisor: Ignacio Garcia de Olalla Lopez Programme: Master of Science in Business with Major in Accounting and Business Control Abstract This paper studies the predictive power of leading indicators used by interviewed analysts to predict the monthly excess stock returns for some of the most influential Norwegian companies listed on the Oslo Stock Exchange. The thesis primarily seeks to evaluate whether a multiple factor forecast model or a forecast combination model incorporating additional explanatory variables have the ability to outperform a five common factor (FCF) benchmark forecast model containing common factors for the Norwegian stock market. The in-sample and out-of- sample forecasting results indicate that a multiple factor forecast model fails to outperform the FCF benchmark model. Interestingly, a forecast combination model with additional explanatory variables for the Norwegian market is expected to outperform the FCF benchmark forecast model. GRA 19703 0981324 0983760 Acknowledgements This thesis was written as the final piece of assessment after five years at BI Norwegian Business School and marks the completion of the Master of Science in Business program. We would like to thank our supervisor Ignacio Garcia de Olalla Lopez for his help and guidance through this process. -
The Supervisory Board of Gjensidige Forsikring ASA
The Supervisory Board of Gjensidige Forsikring ASA Name Office Born Address Occupation/position Education/background Organisational experience Bjørn Iversen Member 1948 Reinsvoll Farmer Agricultural economics, Agricultural Head of Oppland county branch of the Norwegian University of Norway in 1972. Landbrukets Farmers' Union 1986-1989, head of the Norwegian sentralforbund 1972-1974, Norges Kjøtt- og Farmers' Union 1991-1997, chair of the supervisory Fleskesentral 1974-1981, state secretary in board of Hed-Opp 1985-89, chair/member of the board the Ministry of Agriculture 1989-1990 of several companies. Chair of the Supervisory Board and Chair of the Nomination Committee of Gjensidige Forsikring ASA. Hilde Myrberg Member 1957 Oslo Senior Vice President MBA Insead, law degree. Chair of the board of Orkla Asia Holding AS, deputy Corporate Governance, chair of the board of Petoro AS, member of the board of Orkla ASA Renewable Energy Corporation ASA, deputy board member of Stålhammar Pro Logo AS, deputy chair of the board of Chr. Salvesen & Chr Thams's Communications Aktieselskap, member of the boards of Industriinvesteringer AS and CGGVeritas SA. Randi Dille Member 1962 Namsos Self-employed, and Economies subjects. Case officer/executive Chair of the boards of Namsskogan Familiepark, Nesset general manager of officer in the agricultural department of the fiskemottak and Namdal Skogselskap, member of the Namdal Bomveiselskap, County Governor of Nord-Trøndelag, boards of several other companies. Sits on Nord- Namsos national recruitment project manager for Trøndelag County Council and the municipal Industribyggeselskap and the Norwegian Fur Breeders' Association, council/municipal executive board of Namsos Nordisk Reinskinn own company NTN AS from 1999. -
Disclosure of Assignments and Mandates the Overview Shows A
Disclosure of assignments and mandates The overview shows a list of issuers of financial instruments where Arctic Securities AS has prepared or distributed research reports, where Arctic Securities AS has rendered publicly known investment banking services in the previous 12 months. Such services include general financial services, assistance in connection with an IPO, share placement or market making. Arctic has received compensation for investment banking services from the companies on the list in the previous 12 months. • Africa Energy Corporation • Aker ASA • Aker Biomarine AS • American Shipping Company ASA • American Tankers Inc • Atlantic Sapphire ASA • B2Holding ASA • Belships ASA • BerGenBio ASA • Borgestad ASA • Bulk Industrier AS • Cherry AB • Color Group AS • Compactor Fastigheter AB • Corem Property Group AB • Crayon Group Holding ASA • Cxense ASA • DNB ASA • DOF Subsea • Flex LNG Ltd • Frigaard Property Group AS • Gentian Diagnostics AS • Golar LNG Partners • Golden Ocean Group Ltd • Gjensidige Forsikring ASA • Heimstaden AB • Helgeland Sparebank • Ice Group Scandinavia Holdings AS • Icelandic Salmon • Kahoot! AS • Kalera AS • Kongsberg Gruppen ASA • Magseis ASA • Maxfastigheter i Sverige AB • Multiconsult ASA • NEL ASA • Nordic American Tankers Ltd. • Northern Drilling Ltd. • Northern Ocean Ltd. • North Investment Group AB • Norwegian Air Shuttle ASA • Norwegian Energy Company ASA • Norwegian Property ASA • NRC Group ASA • Ocean Yield ASA • Odfjell SE • Otovo AS • Polight AS • Quantafuel ASA • REC Silicon ASA • Saferoad Holding ASA • Samhällsfastighetsbolaget I Norden AB • Schibsted ASA • Scorpio Bulkers Inc. • Seadrill Ltd • Self Storage Group ASA • SFL Corporation Ltd • Shelf Drilling Ltd. • Solstad Offshore ASA • Solon Eiendom ASA • Sparebank1 Nord-Norge • Sparebanken Telemark • Sparebankstiftelsen Buskerud Vestfold • Sparebankstiftelsen Helgeland • Sparebankstiftelsen Jevnaker Lunner Nittedal • Sparebankstiftelsen Nøtterøy Tønsberg • Vaccibody AS • Volue AS . -
Arctic Norwegian Equities Monthly Report April 2019
Arctic Norwegian Equities Monthly Report April 2019 FUND COMMENTS Arcc Norwegian Equies (Class I) gave 2.07% return in April versus 1.94% for the OSEFX benchmark index. Year to date the fund has returned 8.46% compared to 10.74% for the OSEFX. Since incepon the fund has returned 135% versus 107% for the benchmark. In April posive aribuon for the Fund versus the benchmark index came from overweights in Elkem and B2 Hold- ing, and underweight in Schibsted. Elkem announced results for the first quarter which were in-line with market expectaons. Results were down from the corresponding quarter last year due to lower Chinese silicone prices. However, Chines silicone prices have risen year-to-date and Elkem expects higher operang results going forward. The B2 Holding share recovered somewhat in April, without significant company news. B2 Holding’s results for the fourth quarter were weaker than expected due to delayed collecons on secured NPLs, especially relang to one liability in Croaa. Schibsted was split in two companies in April; Schibsted with Nordic media and online classifieds assets like Finn.no and Blocket.se, and Adevinta with internaonal online classifieds websites like Leboncoin.fr, OLX.br, in addion to sites in Spain and Italy. The Schibsted share fell following the split. In April negave aribuon for the Fund versus the benchmark index came from overweight in Atea, and under- weights in Gjensidige Forsikring and NEL. Atea’s results for the first quarter were weak in Denmark, and there was somewhat low margins in Norway. The company had more orders from private customers in Denmark in Q1, but fewer orders from the public sector. -
Derivatives, Oslo Børs - February 2015
DERIVATIVES, OSLO BØRS - FEBRUARY 2015 The OBX index increased by 2.8% to 557.66 points during February. So far this year the index is up 6.5%. The average number of contracts traded in February was 37 508 contracts/day. The average for the two first months of 2015 is 39 525, whereas 2014 was 47 289. The stock option premium decreased by 23% to 122 MNOK, but the number is still well above the 2014 average of 96 MNOK. The forward exposure increased by 35% to 1 014 MNOK (2014 avg: 1021 MNOK). The OBX option premium decreased by 36% to 23 MNOK (2014 avg: 56 MNOK), and the index future turnover fell by 22% to 10.5 BNOK (2014 avg: 15 BNOK). The most traded single stock option in February was Storebrand with 29 MNOK, 24% of the total stock option premium turnover. Statoil and Yara followed with a turnover of 26 and 22 MNOK respectively. The top three stock derivatives accounted for 63% of the total stock option turnover for the month. Norsk Hydro, Statoil and Marine Harvest Group were the most traded stock forwards, accounting for 45% of the total exposure. Norsk Hydro had a turnover of 243 MNOK, 24% of the total. Oslo Børs offers standardised options and forward/futures on 20 stocks, the OBX index, and the AKAKS Basket. In addition, there are futures listed on the OBOSX index. There are 8 market makers in Norwegian derivatives. This summary continues with a presentation of general statistics, followed by a product- and volatility overview towards the end. -
The Normative Views of Climate Scientists and Their Bearing on Philosophy
Value-Free yet Policy-Relevant? The Normative Views of Climate Scientists and Their Bearing on Philosophy Torbjørn Gundersen Centre for the Study of Professions, OsloMet – Oslo Metropolitan University ARENA – Centre for European Studies, University of Oslo This article contributes to the philosophical debate on values in science by exploring how scientists themselves understand the proper role of moral, political, and social values in expert practice. I present findings from interviews with climate scientists who have participated as authors in the Intergovernmental Panel on Climate Change (IPCC). The climate scientists subscribe to the value-free ideal as a reg- ulative ideal that applies both to the provision of knowledge to policymakers and how they engage with political issues in the public sphere. Yet their views on the moral responsibility of scientists and the aim of providing policy-relevant output challenge the value-free ideal. The article suggests ways in which their views can be relevant to the philosophical discussion. Keywords: value-free ideal, expert role, IPCC, climate science-moral re- sponsibility, policy relevance, interview study This article has benefited from comments by Edmund Henden, Silje Maria Tellmann, Anders Molander, Marte Mangset, Kjartan Koch Mikalsen, Andreas Eriksen, and Nils Roll-Hansen (whose idea it also was to perform an empirical study of climate scientists). I would like to thank my colleagues at the Centre for the Study of Professions, OsloMet – Oslo Metropolitan University and participants at the workshop The Legitimacy of Depo- liticized Decision-Making at ARENA – Centre for European Studies, University of Oslo for helpful comments. Two anonymous reviewers for this journal provided very helpful com- ments. -
Important Notice the Depository Trust Company
Important Notice The Depository Trust Company B #: 2473-14 Date: December 30, 2014 To: All Participants Category: Dividends From: International Services Attention: Operations, Reorg & Dividend Managers, Partners & Cashiers Tax Relief: Country: Norway Issues: Fred Olsen Energy ASA | Gjensidige Forsikring | Opera Software | Orkla ASA Subject: Statoil Hydro ASA| TGS Nopec Geophysical Co | Tomra Systems NORWAY ADR MARKET ANNOUNCEMENT: JANUARY 2015 We have received the following important notice from BNY Mellon/Globe Tax Services. Questions regarding this Important Notice may be directed to Globetax. Important Legal Information: The Depository Trust Company (“DTC”) does not represent or warrant the accuracy, adequacy, timeliness, completeness or fitness for any particular purpose of the information contained in this communication, which is based in part on information obtained from third parties and not independently verified by DTC and which is provided as is. The information contained in this communication is not intended to be a substitute for obtaining tax advice from an appropriate professional advisor. In providing this communication, DTC shall not be liable for (1) any loss resulting directly or indirectly from mistakes, errors, omissions, interruptions, delays or defects in such communication, unless caused directly by gross negligence or willful misconduct on the part of DTC, and (2) any special, consequential, exemplary, incidental or punitive damages. To ensure compliance with Internal Revenue Service Circular 230, you are hereby notified that: (a) any discussion of federal tax issues contained or referred to herein is not intended or written to be used, and cannot be used, for the purpose of avoiding penalties that may be imposed under the Internal Revenue Code; and (b) as a matter of policy, DTC does not provide tax, legal or accounting advice and accordingly, you should consult your own tax, legal and accounting advisor before engaging in any transaction. -
Post-War Philosophy in Norway. Problems, Achievements and Dilemmas
FOLIA SCANDINAVICA VOL. 5 POZNAŃ 1999 POST-WAR PHILOSOPHY IN NORWAY. PROBLEMS, ACHIEVEMENTS AND DILEMMAS E w a P io tro w sk a Adam Mickiewicz University, Poznań A b stra ct. The aim of the paper is to present the main trends within philosophy in Norway. The author also discusses the most important research works carried out at university centres, the goal of which is to analyse Norwegian post-war philosophy. The predominant movement, so called ‘practical philosophy’, deals with ethical, religious, political, social and economic issues. Many Norwegian philosophers are also active as university teachers or researchers at universities in Oslo (e.g. Arne Naess, Hans Skjervheim, Trond Berg Eriksen, Torstein Tollefsen, A n fin n Stigen) and in Bergen (e.g. Gunnar Skirbekk, Nils Gilje, Vigdis Songe-M0ller, Knut Erik Tran0y). Sophie’s World (Sofies verden) by Jostein Gaarder, a Norwegian philosophy teacher, has recently become a best-selling book on the Polish publishing market. The book, written in consultation with the well-known Norwegian philosopher and historian of science Trond Berg Eriksen, was published in Norway four years earlier. It presents the main achievements of human philosophical thought, with the start ing point in antiquity, in the plain and beautiful form of a fictionized dialogue. The book is a typical example of the modern scientific and didactic im perative of those preoccupied with philosophy in Norway - difficult philo sophical issues should be presented in such a way that they become read able and comprehensible for a wide audience. What’s more, they should provide some signposts for average people who think and reflect critically upon the self and the external world. -
Orkla ASA Sustainability Report 2012
tainability report tainability S Su 2012 ORKLA BÆREKRFTSRAPPORTSustainABiLiTy report / 2012 / 2012 contents HigHligHts in 2012 03 Foreword 04 orkla’s corporate responsibility 06 Food, People and the Environment 06 Anti-corrution and competition law 09 Awards to Orkla companies 10 Stakeholder dialogue in 2012 11 people 12 People and leadership 12 Building a strong company 17 environment, HealtH and saFety 18 Safe workplases 18 Preventing sickness absence 20 Safety culture at Stabburet 20 Safety in sales work at Nidar 21 environment 22 Responsibility for the environment 22 Energy recovery at Procordia 25 Conscious use of packaging 26 Packaging development at Lilleborg 27 Food saFety 28 Consumer confidence through safe products 28 Food safety in purchasing 31 Orkla’s approach to modern gene technology 31 nutrition and HealtH 32 Food enjoyment in a balanced diet 32 Responsible marketing 38 Dutch bread with less salt 39 responsible purcHasing 40 Collaboration based on ethical, sustainable principles 40 Workers’ rights 41 Cocoa production in West Africa 43 Textile manufacturing in Asia 44 Fish oil production in Peru 45 Sustainable purchasing 46 Palm oil 47 Sustainable fishing 47 about tHe report 48 sponsorsHips 49 Associated Non-core Business areas company Orkla Sapa Confectionery Orkla Home Orkla Orkla Food Jotun (part of future JV) Aluminium profiles Orkla Foods & Snacks & Personal International Ingredients (42,5 %) and building systems EBITA1 (NOK million): Stabburet Chips Group Lilleborg MTR Foods Idun-group Procordia Göteborgs/Sætre Lilleborg