Protector Forsikring

Earnings Release • Oct 29, 2014

Q3 result: 26% growth, strong result

Q3 result: 26% growth, strong result

- Gross premiums written in Q3 2014 totaled NOK

341.8m, representing a 26% growth (29% in local

currencies) compared to Q3 2013. YTD, gross premiums

written rose by NOK 469.7m, or 29% compared to YTD

- The combined ratio net was in Q3 89.0%, compared

with 93.4% in Q3 2013. YTD, the combined ratio net

was 85.1% up from 84.5% in the same period last year.

- The investment return was in Q3 NOK 27.9m (0.6%)

against NOK 75.6m (2.0%) in Q3 2013. YTD the return

was NOK 223.3m (4.9%) against NOK 172.9m (4.7%) the

year earlier period.

- Operating profit in Q3 totaled NOK 75.3m, down from

NOK 96.7m in Q3 2013. YTD, the operating result was

NOK 412.3m against NOK 323.8m in the same period in

The guiding for 2014 is changed. The overall

expectations to 2014 is a 27% growth in

GWP (unchanged), a net combined ratio of 88%

(unchanged)and a return on investments of NOK 240m

(down from NOK 290m due to the turmoil in the

financial markets).

For further information, please see the attached

presentation and report.

Oslo, 29 October 2014

Protector Forsikring ASA

This information is subject of the disclosure

requirements acc. to §5-12 vphl (Norwegian Securities

Trading Act)