Protector Forsikring

Earnings Release • Jul 8, 2021

Q2 2021: CR 83.9%, earnings per share NOK 3.2

Q2 2021: CR 83.9%, earnings per share NOK 3.2

The profit for the quarter was NOK 267.3m compared to NOK 580.4m in Q2 2020. The result is driven by a strong technical result and a good investment result.

The net combined ratio was 83.9%, down from 92.1% in Q2 2020.

In Q2, gross premiums written increased by 22% in local currencies (11% in NOK). Price increases were 9.2% and will continue in some markets and segments.

The return on investments was NOK 143.5m (1.0%) compared to NOK 638.8m (5.2%) in Q2 2020.

In the first half year, the company recorded a profit of NOK 840.1m, against NOK 195.5m in H1 2020. The net combined ratio was 87.4% compared to 95.1% in the same period last year. The return on investments was NOK 724.1m, or 5.1% compared to NOK 186.7m, or 1.5% in H1 2020.

The Board has utilised its authorisation granted by the Annual General Meeting in 2021 and has resolved to distribute a special dividend of NOK 137.5 million, corresponding to NOK 1.67 per share. The dividend will be paid on or about 21 July 2021.

The SCR-ratio was 235% (161%) adjusted for the distribution of dividend.

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

Oslo, July 8th 2021

Protector Forsikring ASA

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