Protector Forsikring

Earnings Release • Feb 2, 2022

2021: CR 87.3%, earnings per share NOK 15

2021: CR 87.3%, earnings per share NOK 15

Protector Forsikring ASA recorded a profit of NOK 238.8m (NOK 442.2m) for the fourth quarter. The return on investments was NOK 237.4m (NOK 448.5m) or 1.7% (3.4%). The technical result was NOK 101.2m (NOK 53.6m), corresponding to a combined ratio of 91.6% (95.4%).

In Q4, gross written premiums increased by 14% in local currencies. For the full year, gross written premium came in at MNOK 5,950.6, up 8% (10% in local currencies) relative to 2020.

In 2021, the company recorded a profit of NOK 1,204.0m (NOK 981.6m). The return on investments was NOK 954.5m (NOK 969.6m) or 6.8% (8.0%). The technical result was NOK 594.4m (NOK 246.6m) corresponding to a combined ratio of 87.3% (94.8%).

The Board has proposed a dividend based on the profit for the 2021 financial year of NOK 576.6m, corresponding to NOK 7.00 per share. The regular dividend corresponds to a pay-out ratio of 48 per cent of the company’s profit after tax.

In addition, the board has declared a special dividend of NOK 247.1m, corresponding to NOK 3.00 per share. For this special dividend, the Board has utilised its authorisation granted by the Annual General Meeting in 2021. The payment will take place on 16 February 2022.

The SCR-ratio was 206% (190%) year-end, post dividends.

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

Oslo, February 2nd 2022

Protector Forsikring ASA

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