Protector Forsikring

Earnings Release • Jul 12, 2019

Poor profitability CR 107,2% and 32% volume growth

Poor profitability CR 107,2% and 32% volume growth

As communicated in the stock exchange announcement dated 10th of July, the Q2 result is weak.

The quarter's result was negative with NOK -125.7 million compared with a profit of NOK 53.8 million in Q2 2018. The result is driven by the arbitration loss, a weak technical result even without the arbitration loss and a weak investment result.

The net combined ratio was 107.2% up from 99.2% in Q2 2018.

In Q2, the growth in gross written premiums was 32%. The strong growth is driven by strong volume growth in the UK and Sweden and price increases in the Nordic region.

The investment result was NOK -69.3 million (-0.6%).

In the first half of the year, the premium growth was 20%. The combined ratio for own account was 106.6%.

Price and profitability measures going forward will be further strengthened.

New guiding for 2019 is; 18% growth (up from 14%) and a combined ratio of 100% (up from 96%).

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

Oslo, July 12th 2019

Protector Forsikring ASA

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