Highlights Q2 2021
CR 83.9% and 22% volume growth in local currencies
Protector Forsikring ASA recorded a profit of NOK 267.3m (NOK 580.4m) for the quarter. The result is driven by a strong technical result and a good return on investments. The underwriting result was NOK 189.8m (NOK 93.4m) corresponding to a combined ratio of 83.9% (92.1%).
In Q2, gross written premiums increased by 22 % in local currencies. The growth is driven by the UK and Sweden. For the half year gross written premiums came in at NOK 4,308.8m up 5% or 7% in local currencies.
The Covid-19 pandemic had a positive impact on the net claims ratio estimated at approximately 1.4 percentage points in Q2 and 1.7 percentage points for the half year. The impact was primarily related to motor insurance.
In the first half year, the company recorded a profit of NOK 840.1m (NOK 195.5m). The return on investments was NOK 724.1m (NOK 186.7m) or 5.1% (1.5%). The technical result was NOK 281.9m (NOK 112.1m) corresponding to a combined ratio of 87.4% (95.1%).
The Board has utilised its authorisation granted by the Annual General Meeting in 2021 and has resolved to distribute a special dividend of NOK 137.5 million, corresponding to NOK 1.67 per share.
The SCR-ratio was 235% (161%) after distribution of dividends.