Interim Report (unaudited)
Q4 and FY 2025

Protector Forsikring ASA recorded a profit of NOK 705 m (257 ) for the quarter, driven by a strong insurance service result and a good return on investments. Gross written premiums amounted to NOK 2,971 m, up 11% (12% in local currencies). All segments contribute to the growth. The insurance service result was NOK 535 m (502 ), corresponding to a combined ratio of 85.0 % (84.2 %). Net income from assets under management was NOK 554 m (-96 ), or 2.1 % (-0.4 %). Total investment return, including insurance finance expenses, was NOK 467 m (-67 ).

In FY 2025, the company recorded a profit of NOK 2,646 m (1,573 ). Gross written premium was NOK 14,136 m, up 15% (14% in local currencies). All segments contribute positively to the growth. The insurance service result was NOK 2,106 m (1,404 ), corresponding to a combined ratio of 84.7 % (88.1 %). Total investment return, including insurance finance expenses, amounted to NOK 1,575 m (846 ), and net income from assets under management was NOK 1,890 m (1,059 ), or 7.3 % (4.9 %).

In Q4, Protector completed the portfolio transfer agreement (PTA) with Darag Deutschland AG for the entire workers’ compensation portfolio in Denmark. The transfer has limited impact on the solvency margin and result.

At the end of Q4 the SCR-ratio was 219% (193%), post dividends.

The Board has utilized its authorisation granted by the Annual General Meeting 10 April 2025 and has decided to distribute a dividend of NOK 495 m, corresponding to NOK 6.00 per share.

^{Amounts in NOKm, except earnings per share which is in NOK. Comparable figures from corresponding period last year in parentheses.}