Silene dioica; the red campion is not an indigenous Icelandic species as far as I am aware. However I found some plants of this species on a few places around the Eyafjörður fjord where the town of Akureyri is situated. The typically campion-shaped flowers with pink petals are characteristic.
It is a member of the pink family (Caryophyllaceae). The Icelandic name of this species is Dagstjarna.