Protector Forsikring Asa · OSL:PROT
Protector Forsikring Asa — Protector Forsikring Ord — Q3 2025 Earnings Presentation
16 slides from Protector Forsikring Asa's earnings presentation, Oct 24, 2025
Slide 1: Q3 2025 Interim results
Q3 2025 Interim results Investor Presentation Oslo, 23 October 2025
Slide 2: The Challenger
We will always be The Challenger We will deliver through unique relationships, best in class decision-making and cost effective solutions Main targets Values Cost and quality leadership Credible Profitable growth Innovative/Open Top 3 Bold Committed
Slide 3: Highlights Q3 & Q1-Q3 2025
Highlights Q3 & Q1-Q3 2025 Q3: Combined ratio at 83.1% | Total investment return of 105 | EPS at 5.6 Q3 Q1-Q3 Other highlights • Successfully placed a new Solvency II compliant Tier 2 Combined Ratio Combined Ratio bond of NOK 500m. Gross written premium Gross written premium • Portfolio transfer agr
Slide 4: Volume update
Volume update Q3: GWP growth at 1% | 3% in local currencies (LCY) • Q3 growth at 3% (LCY) – a small volume quarter. • Renewal rate at 80%. • Driven by higher client churn, incl. loss of three > NOK 10m accounts, and inception date movements. • Underlying GWP growth in LCY is high single-digit. • Fir
Slide 5: Claims update
Claims update Q3: Loss ratio, net of reinsurance at 72.2% | Large losses of NOK 205m (5.8%) | Run-off gains of NOK 91m (2.6%) • Q3 positively influenced by property, supported by lower-than-expected large losses. • Q3 large losses1 NOK 205m, or 5.8% (215 or 7.1%). • 4 large loss events. • Property S
Slide 6: Large losses and run-off
Large losses and run-off Best estimate reserving practice; run-off neutral over time. Large Loss % 5.6% 7.9% 6.4% 4.2% 4.3% Run-off % 0.9% 0.9% 1.7% -0.5% 1.3% Nominal run-off (L-axis) Relative run-off (%) 6 Lines in figures indicate large loss and run-off accumulations within outlined periods.
Slide 7: Key metrics per segment
Key metrics per segment Quarterly volatility must be expected, especially by segment. 7
Slide 8: Investments
Investments
Slide 9: Investment results and portfolio statistics
Investment results and portfolio statistics Q3: Return of NOK 117m (0.4%) | Bond portfolio yield at 5.0%, before cost of risk • NOK 117m, or 0.4% gain. Q3 & YTD Investment result • Equities: NOK -72m, or -1.9 %. • Put options: NOK -24m. • Bonds: NOK 213m, or 0.9 %. • Interest rate swaps: NOK -56m. E
Slide 10: Capital position
Capital position
Slide 11: Income statement
Income statement Q3: Profit of NOK 459m (581) | EPS at NOK 5.6 (7.1) 11
Slide 12: Capital development
Capital development SCR ratio 229%, up from 220% driven by lower SCR Eligible Own Funds (OF) • Dividend NOK 3 per share, NOK 247m in total. • Contribution from NOK 800m T2 loan issued in February 2025 at NOK 452. • NOK 110m reduction in utilization in Q3 due to decreased SCR. • No contribution from
Slide 13: The Challenger
We will always be The Challenger We will deliver through unique relationships, best in class decision-making and cost effective solutions Main targets Values Cost and quality leadership Credible Profitable growth Innovative/Open Top 3 Bold Committed
Slide 14: Summary Q3 & Q1-Q3 2025
Summary Q3 & Q1-Q3 2025 Q3: Combined ratio at 83.1% | Total investment return of 105 | EPS at 5.6 Q3 Q1-Q3 Other highlights • Successfully placed a new Solvency II compliant Tier 2 Combined Ratio Combined Ratio bond of NOK 500m. Gross written premium Gross written premium • Portfolio transfer agreem
Slide 15: PROTECTOR
PROTECTOR
Slide 16: Disclaimer
Disclaimer This presentation and the information contained herein have been prepared by and is the sole responsibility of Protector Forsikring ASA (the "Company”). Such information is being provided to you solely for your information and may not be reproduced, retransmitted, further distributed to a
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