Protector Forsikring - Earnings Release 2015

Q1 2015: 25% Growth, increased guiding

Q1 2015 shows following development compared to Q1 2014:

- Gross premiums written NOK 1 515,8m, up 25% from NOK 1

208,6m

- Net combined ratio 82,4 %, up from 79,9%

- Operating profit of NOK 210,5m, up from NOK 162,4m

- Return on investments NOK 122,2m (2,2%) , up from NOK

83,8m (1.9%)

The overall expectations to 2015 are an operating profit

of NOK 600m up from previously guided NOK 500m, a 22%

growth (up from 18%) in GWP and a net combined ratio of

86% (down from 88-90%).

The company's Board of Directors has, on the basis of

Protector's successfull entry into Sweden and Denmark,

decided to enter the UK market. The entry will not have

significant effects on results before 2017.

For further information, please see the attached report

and presentation.

Oslo, 30 March 2015

Protector Forsikring ASA

This information is subject of the disclosure requirements

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

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