Protector Forsikring

Earnings Release • Apr 28, 2021

Q1 2021: CR 91.1%, earnings per share NOK 7

Q1 2021: CR 91.1%, earnings per share NOK 7

The profit for the quarter was NOK 572.8m, against NOK -384.9m in Q1 2020. The strong result is driven by a strong return on investments and a good technical result.

The net combined ratio was 91.1%, down from 98.3% in Q1 2020.

In Q1, gross premiums written increased by 2%. Price increases in the Nordics was 8.9% and will continue in some markets and segments.

The return on investments was NOK 580.5m (4.0%), against NOK -452.1m (-3.9%) in Q1 2020.

The Board has utilised its authorisation granted by the Annual General Meeting in 2021 and has resolved to distribute a special dividend of NOK 137.5 million, corresponding to NOK 1.67 per share. The dividend will be paid on or about 12 May 2021.

The SCR-ratio was 216 % (142 %) after distribution of dividends.

Further details are provided in the attached report and presentation, which includes definitions of financial key figures.

Oslo, April 28th 2021

Protector Forsikring ASA

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)