Board, Executive Management & Organizational Chart
We place great emphasis on good corporate governance and fully adhere to the rules and regulations outlined in the laws governing our operations.
Further information about our governance practices can be found in our Annual and Sustainability Report.
Sjóvá has been recognized as a leading company in good corporate governance and has been awarded the title of “Model Company in Good Corporate Governance.”
Board of Directors
Björgólfur Jóhannsson was born on August 28, 1955, and resides in Seltjarnarnes. He was elected to Sjóvá’s board on March 15, 2019, temporarily stepped down in November 2019, and was re-elected on March 12, 2020, at which time he assumed the role of Chairman.
Björgólfur holds a Cand. Oecon. degree in Business Administration from the University of Iceland and is a certified public accountant. He worked as an auditor from 1985 to 1992. His career includes roles as CFO of Útgerðarfélag Akureyringa hf. (1992–1996), Director of Innovation and Development at Samherji (1996–1999), CEO of Síldarvinnslan (1999–2006), CEO of Icelandic (2006–2007), and CEO of Icelandair Group (2008–2018). He also served as Co-CEO of Samherji from November 2019 to February 2021.
Björgólfur has held prominent positions in Icelandic business organizations, including Chairman of the Fisheries Association of Iceland (2003–2008) and Chairman of the Confederation of Icelandic Enterprise (2013–2017). Over the years, he has served on the boards of various companies across different industries. Currently, he is a board member of Kjarnafæði-Norðlenska, Kjálkanes, Norðurbað, Gadus, and Steinasala.
Björgólfur is independent of the company, its daily management, and major shareholders.
Hildur Árnadóttir, Vice Chairman, was born on August 4, 1966, and resides in Kópavogur. She has been a member of Sjóvá’s board since March 15, 2019, and served as Chairman of the Board from November 2019 to March 2020.
Hildur holds a Cand. Oecon. degree in Business Administration from the University of Iceland and is a certified public accountant. She worked as a certified accountant and partner at KPMG from 1990 to 2004. She then served as CFO of Bakkavör Group hf. and later as an advisor in the CEO’s office from 2004 to 2014. Hildur was Head of Treasury at Íslandsbanki from 2014 to 2015 and has since focused on consulting and board roles.
Over the years, she has served on the boards of numerous companies across various industries, including Bakkavör Group hf., Exista hf., and the Iceland Chamber of Commerce. She has also been a member of audit and remuneration committees.
Currently, Hildur serves on the boards of Íslandsstofa, Arctic Fish Holding SA, Eldey Eignarhaldsfélag hf., Norðursigling hf., Íþaka Fasteignir ehf., Héðinn hf., Argyron ehf., and MyPulse ehf.
Hildur is independent of the company, its daily management, and major shareholders.
Guðmundur Örn Gunnarsson was born on January 6, 1963, and resides in Garðabær. He was first elected to Sjóvá’s board on March 12, 2020, and has served as Chairman of the Board of the subsidiary Sjóvá-Almennar Líftryggingar hf. since April 28, 2021.
Guðmundur studied actuarial science and computer science at the University of Copenhagen, Denmark. He worked for 23 years at Tryggingamiðstöðin, holding roles such as Head of the Information Department and overseeing the IT Department. He also served as Executive Director of Operations and Business Development. From 2008 to 2011, he was CEO of Vátryggingafélag Íslands hf. (VÍS) and Líftryggingafélag Íslands (Lífís).
From 2011 to 2013, Guðmundur focused on various consulting projects, primarily in business planning and strategic development for innovation. Between 2014 and 2022, he was Managing Director of CAE Icelandair Flight Training ehf., which owns and operates flight simulators at Icelandair’s training center.
Guðmundur has extensive experience in governance, both as a board member and chairman. He is currently Chairman of the Board at Vinnslustöðin hf. and CAE Icelandair Flight Training ehf., as well as a board member at BL ehf.
Guðmundur is independent of the company, its daily management, and major shareholders.
Ingi Jóhann Guðmundsson was born on January 12, 1969, and resides in Garðabær. He has been a member of Sjóvá’s board since July 28, 2011.
Ingi Jóhann holds a Cand.Oecon. degree in Business Administration from the University of Iceland and serves as Managing Director of Gjögur hf. and Kjálkanes ehf.
He is Chairman of the Board at Hrólfssker ehf., which holds a 15.65% stake in Sjóvá. Ingi Jóhann indirectly owns Hrólfssker’s stake through Kjálkanes ehf., which owns 34.2% of the company. Ingi Jóhann has a 22% ownership interest in Kjálkanes ehf.
Ingunn Agnes Kro was born on March 27, 1982, and resides in Reykjavík. She was first elected to Sjóvá’s board on March 12, 2020.
Ingunn holds a BA and MA in Law, an MBA from the University of Iceland, is licensed to plead before district courts, and is a certified securities broker.
From 2009 to 2019, Ingunn worked at Skeljungur hf., most recently as Executive Director of the Corporate and Communications Division, overseeing communications, corporate social responsibility, legal matters, marketing, and human resources. Prior to that, she served as Chief Legal Officer, Compliance Officer, Board Secretary, and a member of the executive team. She also served as CEO of Íslenska vetnisfélagið ehf. (a subsidiary of Skeljungur hf.) from 2018 to 2019.
Between 2008 and 2010, Ingunn was a part-time lecturer and later an adjunct professor at the University of Iceland’s Faculty of Law, teaching tort law.
Ingunn is currently Chairman of the Board at RARIK, a board member at Iceland Seafood International hf., and Chair of its Audit Committee. She is also on the boards of Freyja, an investment fund, and Votlendissjóður, a non-profit organization focused on reducing greenhouse gas emissions.
Ingunn is independent of the company, its daily management, and major shareholders.
Alternate Board Members
Erna Gísladóttir was born on May 5, 1968, and resides in Garðabær. She served on Sjóvá’s board from June 20, 2009, primarily as Chairman, and later as an alternate board member from March 15, 2019. She temporarily rejoined the board from November 19, 2019, to March 12, 2020.
Erna holds a B.Sc. in Economics from the University of Iceland (1991) and an MBA from IESE in Barcelona (2004). She is the CEO of Egg ehf. and was the CEO of BL ehf. from 2013 to 2023, as well as the CEO of Bifreiðar og landbúnaðarvélar hf. from 2003 to 2008. She was also a co-owner and Executive Director of the latter company since 1991.
Erna currently serves on the boards of BL ehf., Egg ehf., Egg Fjárfestingar ehf., Umbreyting slhf., and Alma ehf.
Along with her husband, Erna owns and serves as a board member of Egg Fjárfestingar ehf., which holds a 3.26% stake in Sjóvá.
Erna is independent of the company, its daily management, and major shareholders.
Garðar Gíslason was born on October 19, 1966, and resides in Garðabær. He has been an alternate board member at Sjóvá since September 30, 2011.
Garðar holds a Cand.Jur. degree from the University of Iceland (1997). He has practiced law since 2005, primarily at LEX Law Firm, and since 2016 at IUS Law Firm. From 1997 to 2005, he served as Chief Legal Counsel and later Head of Department at the Office of the Director of Tax Investigations, as well as Deputy Director of Tax Investigations.
Garðar serves on the boards of several companies, including IUS lögmannsstofa ehf., Valshjartað hf., and as an alternate board member for Ránarborg ehf., Harðbakur ehf., Völsi Capital Partners ehf., and Salvus ehf.
He has provided Sjóvá with legal counsel on specific projects related to administrative, corporate, and financial market law.
Garðar is independent of the company, its daily management, and major shareholders.
Executive Management
Hermann Björnsson was born on February 15, 1963, and resides in Reykjavík. As CEO, he is responsible for the company’s daily operations in accordance with the policies and directives of the board, as outlined in Article 68, Paragraph 2 of the Companies Act. Hermann has served as CEO of Sjóvá since October 2011 and as Managing Director of the subsidiary Sjóvá-Almennar Líftryggingar hf. since April 2021.
Hermann holds a law degree from the University of Iceland (1990). He began his career at Íslandsbanki hf., first in the legal department and later as Head of the Operations Department. In 1999, he became Head of the Branch Network Division and subsequently its Deputy Managing Director.
Hermann served as Deputy Managing Director of the Corporate Banking Division at Kaupthing Bank hf. in 2006 and as Managing Director of the Corporate Banking Division at Arion Bank hf. from 2009.
In recent years, Hermann has held numerous trusted positions, including serving on the boards of the Iceland Chamber of Commerce, Fjölgreiðslumiðlun ehf., Kreditkort hf., the Bank Employees’ Pension Fund, and the life insurance company Okkar Líf hf. He currently serves on the board of the Icelandic Financial Services Association and is a member of the Representative Council of the Confederation of Icelandic Enterprise.
Hermann holds a 0.047% stake in the company.
Birgir Viðarsson was born on September 7, 1981, and resides in Reykjavík. The Sales and Services Division provides consultancy, services, and sales in life and non-life insurance for individuals, companies, municipalities, and institutions. The company’s branches and agency network also fall under this division.
Birgir holds an M.Sc. in Risk Engineering from Lund University and a B.Sc. in Civil Engineering from the University of Iceland.
From 2017 to 2022, Birgir served as Head of Corporate Advisory and was a specialist in reinsurance. Prior to that, he worked in risk management starting in 2011.
Elín Þórunn Eiríksdóttir was born on December 15, 1967, and resides in Hafnarfjörður. The Claims Division handles claim registration, settlement, compensation decisions, damage assessment, claims liability estimation, and legal services.
Elín holds a Cand.Oecon. degree in Business Administration from the University of Iceland (1993). She previously served as Managing Director of Sales and Services at Sjóvá from 2012 and later as Managing Director of Business Development and Operations.
From 2006 to 2010, she was Managing Director of the Corporate Division and Head of Sales Units at Síminn hf. Elín also worked at Eimskipafélag Íslands hf. from 1997 to 2005, primarily as Head of Sales Units.
Elín has held various trusted positions, including serving on the boards of Valitor hf., Síminn hf., Radíómiðun ehf., and Staka Automation ehf.
Elín holds a 0.068% stake in the company.
Sigríður Vala Halldórsdóttir was born on April 24, 1983, and resides in Garðabær. As Managing Director of Finance and IT, she oversees accounting, collections, information technology, and business intelligence.
Sigríður Vala holds an M.Sc. in Industrial Engineering from the University of Minnesota and a B.Sc. in Industrial Engineering from the University of Iceland. She has also completed a certification in securities trading.
From 2016 to 2021, Sigríður Vala served as Head of Sjóvá’s Economic Analysis Department and was a member of the company’s investment committee. Previously, she worked at Creditinfo as Head of Business Management (2015–2016) and in Corporate Advisory at Íslandsbanki (2008–2015).
She served on the boards of HS Veitur hf. (2014–2022) and SÝN hf. (2019–2022) and is currently a board member of the Iceland Chamber of Commerce.
Sigríður Vala holds a 0.011% stake in the company.
Svali H. Björgvinsson was born on May 24, 1967, and resides in Seltjarnarnes. The Marketing and Business Development Division is responsible for marketing, preventive measures, business development, and strategy.
Svali holds a BA in Psychology from the University of Iceland (1992) and a master’s degree in Psychology and Management from New York University (NYU, 1997).
He served as Head of Strategy and Business Development at Sjóvá from 2018 to 2022. Previously, he was a partner at PricewaterhouseCoopers (1998–2003) and Managing Director of Human Resources at Kaupthing (2003–2009). In addition, Svali lectured at the University of Iceland and the Iceland University of Education from 1995 to 2010.
From 2009 to 2018, he worked as Managing Director of Human Resources and Strategy at Icelandair Group/Icelandair.
Svali has served on numerous boards and undertaken various projects for Iceland’s sports movement.
Organizational Chart
