Protector Forsikring

Capital/Financing Update • Apr 1, 2016

Contemplating issuing up to NOK 500 million subordinated debt

Contemplating issuing up to NOK 500 million subordinated debt

Protector Forsikring ASA is considering to issue a dated tier

2 bond issue, callable and with floating rate. The volume

will be up to NOK 500 million. The purpose of the bond will

be to optimize and strengthen the Company's capital structure

as a basis for future growth.

Protector has appointed Nordea Markets and Pareto Securities

as arrangers for the bond issue.

The company is planning investor meetings on the following

dates:

Monday, April 4th: Helsinki/Stockholm

Tuesday, April 5th: Copenhagen/Bergen

Wednesday, April 6th: Oslo

The presentation for the investor meetings is attached to

this notice, and will be made available at www.protectorforsikring.no.

Issuance is subject to customary approval from the Financial

Supervisory Authority.

Contact persons Protector Forsikring ASA:

CEO: Sverre Bjerkeli, mobile: +47 928 38 072

CFO: Flemming Holm, mobile: +47 908 81 896

Chief Investment Officer: Cathrine Foyn, mobile: +47 955 22

012

This information is subject to disclosure under the

Norwegian Securities Act section §5-12