Protector Forsikring Ord (PSKRF) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

pricing and adjustments. But we're not very concerned about it. No change in risk appetite. We still believe that motor is an area where we should continue growing. Any questions on claims development? When you look at the timelines here, you see on the large loss side that we're not at the 8% that we now have as a normalized level. But we still believe that that's a sensible trend. normalized level and on the runoff side I have mentioned previously that best estimate is important for us both on the case reserving and on the actuarial reserving but coming from a period with more uncertainty you can expect that that uncertainty ends up on the conservative side it could obviously go both ways but that's some of what you're seeing now On the cost side, which we haven't talked about, we've talked about the growth and the claims development. On the cost side, there is a reduction. You'll see that broker commission is higher. That's because we grow in France, where broker commission is higher. But if you adjust for that... slightly bigger decrease from last year, but most of it is due to the share price reduction and the long-term bonus plan that we have talked about before that has gone the opposite way. So there's no real reduction in cost quarter over quarter. And again, that's investing in data and in AI. But obviously, At some point, we need to see that in the cost ratio. And I think we have good solutions and good process improvements that will drive a reduction and scalability on the cost ratio going forward. Investments, that's volatile, as you all know. And on the equity side, we had a big loss in the quarter. The two most important things to mention is the increased yield. So the yield has gone up due to the interest rate increase. And the other thing is that in ...