Protector Forsikring

Capital/Financing Update • Jun 9, 2020

Amendments to bond agreement

Amendments to bond agreement

Protector Forsikring ASA and Nordic Trustee AS (on behalf of the bondholders) have today entered into an amendment agreement to FRN Protector Forsikring ASA 2017/Perpetual Restricted Tier 1 Non-Cumulative Callable Bond Issue (ISIN NO 001 0790066). The purpose of the amendment agreement is to update the bond agreement in accordance with new rules on write-down in the event of non-compliance with the solvency capital requirement. The new rules follow from regulation (EU) 2019/981, which amends article 71 of regulation (EU) 2015/35, and entails that in the event of non-compliance with the solvency capital requirement, the loan is written down at least on a linear basis in a manner which ensures that full write-down will occur when 75 % coverage of the solvency capital requirement is reached. Regulation (EU) 2019/981 has been incorporated into the EEA agreement and will be implemented into Norwegian law with effect as of 30 June 2020.

Oslo, June 9th 2020

Protector Forsikring ASA

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