Interim Report Q1 2022
Highlights Q1 2022
CR 97.0% and 8 % volume growth
Protector Forsikring ASA recorded a loss of NOK -44.7m (NOK 572.8m) for the quarter. The technical result was NOK 31.6m (NOK 92.0m) impacted by significantly higher large loss ratio compared with Q1 2021. The combined ratio was 97.0% (91.1%). The return on investments was NOK -9.9m (NOK 580.5m) or -0.1 % (4.0 %). Equity markets posted significantly weakened returns while widening spreads and rising interest rates impacted the fixed income portfolio negatively.
Gross written premiums increased by 11 % in local currencies. The growth is driven by the Nordic countries and is supported by continued good price increases and a low client churn.
The Board has utilised its authorisation granted by the Annual General Meeting 7 th April 2022 and has resolved to distribute a dividend of NOK 123.6 million, corresponding to NOK 1.50 per share.
End of Q1 2022, the SCR-ratio was 200 % (216 %) post dividends.
Q1 2022 shows following development compared to Q1 2021:
- Premium growth in local currencies of 11 % (1 %)
- Net combined ratio 97.0 % (91.1 %)
- Net return on investments NOK -9.9m (NOK 580.5m), or -0.1 % (4.0 %)
- Profit for the quarter NOK -44.7m (NOK 572.8m)
- Solvency ratio of 200 % (216 %)
