Largest non-life insurance companies in Norway 2000-2023, by market share

In 2023, the largest non-life insurance company in Norway was Gjensidige. This Norwegian company had notably more than a quarter of the Norwegian non-life insurance market. Over the past decade, their earned premiums increased each year, reaching over 36 billion Norwegian kroner in 2023. The two following leading companies were the Swedish If, and the Danish Tryg. 

Gjensidige’s earned premiums

   In 2023, the largest share of Gjensidige’s earned premiums was generated from their commercial insurance, reaching almost 12.7 billion Norwegian kroner. Meanwhile, their largest private insurance segment was motor vehicle insurance, which represented more than 40 percent of their total premiums earned from private non-life insurance that year.

Motor insurance in Norway

   Overall, the accumulated value of premiums paid for non-life insurance in Norway was higher for private cars. Indeed, premiums for such insurances reached over 20 billion Norwegian kroner in 2020. In recent years, the number of private car insurances signed in the country increased each year. For instance, over three million insurances of this type were signed in 2020.