At the end of 2009, continuing expansion of the Company, Gjensidige Baltic became the sole shareholder of the company GF Försäkringsaktiebolag registered in Sweden (in Latvia known as Nordicia).
New Name, Same Security! Since 1 January 2008 the Company has been operating under the name of Gjensidige.
As of 13 September 2006 AS Parekss apdrošināšanas kompānija (JSC Parekss Insurance Company) has a new owner – the Norwegian insurance company Gjensidige Forsikring.
AS Parekss apdrošināšanas kompānija (JSC Parekss Insurance Company) opened a branch also in Estonia, and since then was represented in all three Baltic States.
In 2004 AS Parekss apdrošināšanas kompānija (JSC Parekss Insurance Company) celebrated its 10th anniversary. The Company’s net written premiums had increased by 56% and amounted to LVL 8.619 million, the profit reaching LVL 1.191 million. Serious expansion of the Company’s distribution network was done – 7 branches in different cities of Latvia were opened or completely renewed.
Gross written premiums amounted to more than LVL 10 million. In 2001 the Company issued about 200,000 insurance policies
which resulted in 58.6% return on equity. The Company increased its share also in the Lithuanian insurance market – AAS Gjensidige Baltic became a 100% shareholder of SAO Baltic Polis.
The Company’s market share reached 9.84%. At the end of the year, the total shareholder’s equity was LVL 4.14 million, and profit amounted to LVL 1.3 million. Four new representative offices were opened in the regional centres of Latvia, and the number of insurance agents had grown considerably. The Company enlarged its share in Baltic Polis equity up to 64.5%, and that way the Lithuanian company acquired a status of a subsidiary company of AS Parekss apdrošināšanas kompānija (JSC Parekss Insurance Company) and became a member of the Parekss group in Lithuania. In 2001 gross written premiums amounted to more than LVL 10 million. In 2001 the Company issued about 200,000 insurance policies. According to the annual results, return on equity was 58.6%. The Company expanded its presence also in the Lithuanian market – its equity share in AAS Baltic Polis reached 100%.
The Company's gross written premiums amounted to LVL 7.55 million with the market share of 8.89%. Early in 1999, the Company acquired 50% of shares of the Lithuanian insurance company Baltic Polis. Compared to the previous year, Baltic Polis market share increased more than seven times.
The law “On Motor Third Party Liability Compulsory Insurance” came into effect in Latvia, and the Company was one of the eight insurance companies which acquired a licence to provide this type of insurance. The Company still ranked 3rd in the market with gross written premiums amounting to LVL 4.6 million. At the end of the year, the Company had eight representative offices operating in the largest cities of Latvia. As of 1997 the Company had been operating with profit amounting to LVL 1.47 million.
AS Parekss apdrošināšanas kompānija (JSC Parekss Insurance Company) was established on 15 August 1994 with paid-up share capital of LVL 1 million and commenced its business in an active insurance market with approximately 40 insurance companies operating there. At the end of 1994, the Company employed nine employees, premium income reached LVL 66 000 and insurance payout amounted to LVL 17 000.