Background
The Board of Directors are required to, in accordance to the Public Limited Liability Companies Act § 6-16 a and b and regulation 11.12.2020 no. 2730, prepare principles and report on remuneration to the Chief Executive Officer (CEO), other senior executives and employees that are members of the Board of Directors (BoD). This report will also cover the note disclosure requirements pursuant to the Norwegian Accounting Act § 7-31b and 7-32.
Purpose
This report shall describe our principles and how these contribute to the company's business strategy, long-term interests and financial sustainability. In addition, the report shall ensure transparency about the company's salary policy and remuneration paid to senior executives, as well as confirm compliance with the Guidelines for salary and other remuneration in Protector Forsikring ASA published at www.protectorforsikring.no.
The remuneration scheme is linked to the achievement of the company's strategic and financial goals, where both quantitative and qualitative goals are included in the assessment. The remuneration scheme shall also contribute to promoting and providing incentives for good risk management, sustainable value creation, counteracting excessive risk-taking and contributing to avoid conflicts of interest.
Comments from the General meeting 2025
At the General Meeting on 10 April 2025 the remuneration report was endorsed without input or comments.
Company development in 2025
Protector recorded a profit of NOK 2,646 m for 2025. The insurance service result was NOK 2,106 m, corresponding to a combined ratio of 84.7 %. The total return on investments including insurance finance was 1,575 m. The return on investments excluding insurance finance was 7.3 %. The gross written premiums ended at NOK 14,136 m, up 15% (14% in local currencies) relative to 2024. The SCR-ratio was 219% at year-end, post dividend.
*Comparative figures have been restated, presenting issued perpetual Tier 1 capital instruments as equity. Transaction expenses and interest (NOK 34 m) are presented as a reduction in equity.