Protector Forsikring Asa · OSL:PROT
Protector Forsikring Asa — Protector Forsikring Ord — Q1 2026 Earnings Presentation
15 slides from Protector Forsikring Asa's earnings presentation, Apr 23, 2026
Slide 1: Q1 2026 Interim results
Q1 2026 Interim results Investor Presentation Oslo, 23 April 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 Q1 2026
Highlights Q1 2026 Combined ratio at 84.9% | Total investment return of -231 | EPS at 1.8 Q1 Other highlights • 1 April growth in UK at NOK 122m (5% in LCY) Combined Ratio Gross premiums written • First BSI conducted in France; initial feedback indicates #1 position LCY GWP growth • The Board has de
Slide 4: Volume update
Volume update Q1: GWP growth at 20% | 21% in local currencies (LCY) • Growth at 21% (LCY) • Renewal rate at 93%, supported by price increases to counter claims inflation. • 1 April is the largest inception date in the UK • NOK 122m growth in GWP (5% in LCY) • Driven by Commercial lines • Renewal rat
Slide 5: Claims update
Claims update Q1: Loss ratio, net of reinsurance at 74.7% | Large losses of NOK 64m (1.7%) | Run-off gains of NOK 112m (3.0%) • Property with lowest loss ratio • Supported by low large losses share • Motor profitability challenged • Profitability actions still needed • More uncertainty on inflation
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% 2.0% -0.3% Nominal run-off (L-axis) Relative run-off (%) 8 * 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
Slide 8: Investments
Investments
Slide 9: Investment results and portfolio statistics
Investment results and portfolio statistics Q1: Return of NOK -282m (-1.1%) | Bond portfolio yield at 5.3%, before cost of risk • NOK -282m, or -1.1% gain Q1 Investment result • Equities: NOK -298m, or -7.2 % • Put options: NOK -7m • Bonds: NOK 17m, or 0.1 % • Interest rate swaps: NOK -161m Equities
Slide 10: Capital position
Capital position
Slide 11: Income statement
Income statement Profit of NOK 165m (748) | EPS at NOK 1.8 (9.0)
Slide 12: Capital development
Capital development SCR ratio 220% (219% per 31.12.2025) | SCR decreases, and dividend offset earnings Eligible Own Funds (OF) • Full effect of Tier 2 loans expected over time: • Approx NOK 210m unutilized per 31.03 • Dividend NOK 8 per share, NOK 659m in total Eligible OF, 30.06 SII earnings Divide
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 Q1 2026
Summary Q1 2026 Combined ratio at 84.9% | Total investment return of -231 | EPS at 1.8 Q1 Other highlights • 1 April growth in UK at NOK 122m (5% in LCY) Combined Ratio Gross premiums written • First BSI conducted in France; initial feedback indicates #1 position LCY GWP growth • The Board has decid
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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