Protector Forsikring Asa · OSL:PROT
Protector Forsikring Asa — Protector Forsikring Ord — Q2 2026 Earnings Presentation
15 slides from Protector Forsikring Asa's earnings presentation, Jul 10, 2026
Slide 1: Q2 2026 Interim results
Q2 2026 Interim results Investor Presentation Oslo, 10 July 2026
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 Q2 & H1 2026
Highlights Q2 & H1 2026 Q2: Combined ratio at 81.5% | Total investment return of 365 | EPS at 9.0 Q2 H1 Other highlights • AM Best has affirmed the Credit Ratings of A- (Excellent) Combined ratio Combined ratio The outlook of these Credit Ratings is stable. Gross written premium Gross written premiu
Slide 4: Volume update
Volume update Q2: GWP growth at -2% | 6% in local currencies (LCY) • Q2 growth at 6% (LCY) • Renewal rate at 88% • From Q1 presentation: 1 April is the largest inception date in the UK • NOK 122m growth in GWP (5% in LCY) • HTD largest client won – incepting 1 July (Q3) • UK Motor client with > 80 0
Slide 5: Claims update
Claims update Q2: Loss ratio, net of reinsurance at 70.3% | Large losses1 of NOK 170m (4.6%) | Run-off gains of NOK 147m (4.0%) • Q2 results positively influenced by property • Supported by lower-than-expected large losses • Motor profitability improving overall • Some parts of the portfolio still n
Slide 6: Large losses and run-off
Large losses and run-off Best estimate reserving practice; run-off neutral over time Large Loss % 6.0 % 7.2% 5.9% 6.0% 6.4 % Run-off % 1.0% 0.9% 1.4% -0.3% 2.0% Nominal run-off (L-axis) Relative run-off (%) * Lines in figures indicate large loss and run-off accumulations within outlined periods 8
Slide 7: Key metrics per segment
Key metrics per segment Quarterly volatility must be expected, especially by segment 9
Slide 8: Investments
Investments
Slide 9: Investment results and portfolio statistics
Investment results and portfolio statistics Q2: Return of NOK 497m (1.9%) | Bond portfolio yield at 5.2%, before cost of risk • NOK 497, or 1.9% gain Q2 Investment result • Equities: NOK 143m, or 3.8 % • Put options: NOK -22m • Bonds: NOK 355m, or 1.6 % • Interest rate swaps: NOK 64m Equities1 Bonds
Slide 10: Capital position
Capital position
Slide 11: Income statement
Income statement Q2: Profit of NOK 755m (725) | EPS at NOK 9.0 (8.7) * Comparative figures for Q2 and H1 2025 have been restated, presenting issued perpetual Tier 1 capital instruments as equity. Transaction expenses and interest (NOK 9 m QTD and NOK 17 m YTD) are presented as a reduction in equity.
Slide 12: Capital development
Capital development SCR ratio 221% (220% per 31.03,2926) | SCR and capital up Eligible Own Funds (OF) • Full effect of Tier 2 loans expected over time • ~ NOK 126m unutilized per 30.06. • Dividend NOK 3 per share, NOK 247m in total Eligible OF, 31.03 SII earnings Dividend Subordinated debt Eligible
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 Q2 & H1 2026
Summary Q2 & H1 2026 Q2: Combined ratio at 81.5% | Total investment return of 365 | EPS at 9.0 Q2 H1 Other highlights • AM Best has affirmed the Credit Ratings of A- (Excellent) Combined ratio Combined ratio The outlook of these Credit Ratings is stable. Gross written premium Gross written premium •
Slide 15: 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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