Protector Forsikring

Earnings Release • Oct 29, 2015

Q3 2015: 7% Growth, Combined Ratio in line with guiding

Q3 2015: 7% Growth, Combined Ratio in line with guiding

Q3 2015 shows following development compared to Q3 2014:

- Gross premiums written NOK 366,5m, up 7% from NOK 341,8m

- Net combined ratio 88,7%, up from 89,0%

- Operating profit of NOK 40,7m, down from NOK 75,3m

- Return on investments NOK -19,9m (-0,3%) , down from NOK

27,9m (0,6%)

The expectations for end-of-year 2015 is an operating profit

of NOK 550m. This is down NOK 50m from the guiding as of Q2

2015, and is a result of lower than expected return on

investments.

The insurance result is expected to show a 22% growth in GWP

and a net combined ratio of 86% at the end of 2015. This is

in line with the guiding per Q2 2015.

For further information, please see the attached report and

presentation.

Oslo, 29th October 2015

Protector Forsikring ASA

This information is subject of the disclosure requirements

acc. to §5-12 vphl (Norwegian Securities Trading Act).