Insurer Gjensidige's Q3 earnings beat forecast

Norwegian insurer Gjensidige posted higher than expected third-quarter earnings as its core underwriting business generated record results, the company said on Tuesday.

OSLO, Oct 20 (Reuters) - Norwegian insurer Gjensidige GJES.OL posted higher than expected third-quarter earnings as its core underwriting business generated record results, the company said on Tuesday.

Gjensidige's July-September pretax profit rose to 2.05 billion Norwegian crowns ($219.7 million) from 1.27 billion crowns a year ago, beating the average forecast of 1.80 billion in a Refinitiv poll of analysts.

Gjensidige last month set a much-delayed dividend for 2019, which had been placed on hold while the company assessed the potential impact from the novel coronavirus pandemic.

"The Board remains confident in Gjensidige's ability to deliver solid earnings and dividend growth over time," the company said in a statement.

Gjensidige's shares have risen 8.2% year-to-date, outperforming a 6.2% fall in the Oslo benchmark index .OSEBX.

($1 = 9.3330 Norwegian crowns)

(Reporting by Victoria Klesty; editing by Uttaresh.V)

((victoria.klesty@thomsonreuters.com; +47 2331 6592; Reuters Messaging: victoria.klesty.thomsonreuters.com@reuters.net))

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