Protector Forsikring

Earnings Release • Jan 22, 2024

Update on volume growth

Update on volume growth

With reference to the stock exchange announcement dated January 3rd, an update on premium growth for 2023 and the January 1st, 2024 renewal date follows.

January 1st have had significant impact on the premium growth historically. However, as a significant part of the growth currently comes from the UK, which has a different inception pattern, the January 1st renewal date gradually becomes less significant.

PREMIUM VOLUME FULL YEAR (FY) & QUARTER FOUR (Q4) 2023

FY 2023 gross written premium (GWP) came in at MNOK 10,423, up 47% (37% in local currencies (LCY)) relative to 2022. Insurance revenue amounted to MNOK 9,406, up 42% (32% in LCY).

In Q4 2023 GWP amounted to MNOK 2,060, up 62% (48% in LCY) relative to Q4 2022. Insurance revenue amounted to MNOK 2,670, up 50% (38% in LCY). UK makes up 68% of total growth in GWP this quarter.

PREMIUM VOLUME INCEPTING JANUARY 1ST 2024

January 1st, 2024, GWP growth was 16% in LCY relative to 2023. The growth is driven by a high renewal rate in all units. In the UK, January is a small volume month.

More information will be given on February 1st in connection with the presentation of the preliminary full year and Q4 2023 results.

Oslo, January 22nd, 2024

Protector Forsikring ASA