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Gjensidige acquires Ferde's toll service provider company Flyt AS

Gjensidige acquires the toll service provider of the toll company Ferde AS and thus takes over the toll collection for customers with AutoPASS agreement.

Through its subsidiary Flyt AS, Ferde AS currently has an AutoPASS agreement with approximately 550,000 customers, which will be in addition to the customers Gjensidige has previously agreed to take over from Vegamot.

With this agreement, we will establish ourselves as a leading player in toll collection in Norway, and get a platform to deliver this service in a customer-friendly and cost-effective way, says Helge Leiro Baastad, CEO of Gjensidige Forsikring.

In line with the toll reform

The sale is in line with the toll reform, where it has been decided that the toll service provider business will be separated from the toll companies and handled by commercial players.

- We are confident that Gjensidige will be a good owner, who can further develop the business for the benefit of the customers, at the same time as the employees are taken care of in a good way, says Trond Juvik, CEO of Ferde.

-The money from the sale of the toll service provider business goes to repaying debt on the toll projects in the region and thus benefits motorists in Vestland, Rogaland and Agder, says Trond Juvik.

He emphasizes that customers will not notice any immediate difference when Flyt AS gets a new owner, and that they do not have to do anything as a result of the sale.

Ferde AS will continue as a purely regional toll company without its own toll service provider business.

Easier for car owners

Gjensidige already collects a motor insurance fee on behalf of the state, and Baastad believes that the collection of tolls is a natural extension of this.

- We believe that car owners want a simpler car maintenance, with several services gathered at one supplier. For Gjensidige, it is natural to take on such a role, says Baastad.

He believes that the purchase in the long run can open up more opportunities to make everyday life easier for car owners. Opportunities include services related to the purchase and re-registration of cars, and roadside assistance.

Requires approval

The Norwegian Public Roads Administration is the approval authority for commercial issuers. The transaction will be completed when Flyt AS is approved as a commercial issuer. The parties have agreed not to publish the purchase price.

About Gjensidige Forsikring:

Gjensidige is a leading Nordic general insurance company listed on the Oslo Stock Exchange. The company has about 3,700 employees and offers insurance products in Norway, Denmark, Sweden