Protector Forsikring — Earnings Release 2020

Oct 30, 2020

CR 93.4% and strong return on investments

CR 93.4% and strong return on investments

The profit for the quarter was NOK 343.8m against NOK -8.3m in Q3 2019. The result is driven by a good technical result and a strong return on investments.

With several large losses and run-off-losses of 3.5% the combined ratio ended at 93.4%.

In Q3, gross written premiums decreased by 14% in local currencies and 8% in NOK. Significant price increases in the Nordics and exit of a very large customer in Norway have resulted in a very high client churn. In the UK the profitable growth continues.

The return on investments totalled NOK 334.4m, or 2.6% compared to a negative return of NOK -41.4m or -0.4% in Q3 2019.

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

Oslo, October 30th 2020

Protector Forsikring ASA

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