Protector Forsikring

Earnings Release • Oct 19, 2023

Q3 2023: CR 91.6% and 35% volume growth in local currencies

Q3 2023: CR 91.6% and 35% volume growth in local currencies

The summarised results for Q3 2023 (Q3 2022) are:

• Combined ratio 91.6% (86.6%)

• Gross written premium growth at 47% (8%), 35% (12%) in local currencies

• Total investment return including insurance finance NOK -44.1m (NOK 259.2m)

• Profit for the quarter NOK -11.2m (NOK 358.2m)

• Solvency ratio of 187% (222%)

In the first three quarters of the year, the company recorded a profit of NOK 833.5m, against NOK 765.8m for the first three quarters of 2022. Combined ratio was 89.3 %, down from 89.0 % in the same period last year. The total return on investments including insurance finance was NOK 439.9m, against 537.8m in Q1-Q3 2022.

The company’s financial position is strong, and the dividend capacity is good. Due to growth opportunities and higher expected probability of opportunities in the financial markets, the Board has decided not to pay out dividends this quarter.

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

Oslo, 19 October 2023

Protector Forsikring ASA

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