Highlights Q4 and preliminary full year 2021
A strong quarter and full year result
Protector Forsikring ASA recorded a profit of NOK 238.8m (NOK 442.2m) for the quarter. The result is driven by a strong return on investments and a good technical result. The return on investments was NOK 237.4m (NOK 448.5m) or 1.7% (3.4%). The technical result was NOK 101.2m (NOK 53.6m) corresponding to a combined ratio of 91.6% (95.4%).
In Q4, gross written premiums increased by 14% in local currencies. The growth is mainly driven by Denmark and Sweden. Furthermore, premium growth is supported by continued price increases and a low client churn. For the full year, gross written premium came in at MNOK 5,950.6, up 8% (10% in local currencies) relative to 2020.
The Covid-19 pandemic had no measurable impact on the net claims ratio in Q4, and a positive impact of 0.8 percentage point for the full year. The impact was primarily related to motor insurance.
In 2021, the company recorded a profit of NOK 1,204.0m (NOK 981.6m). The return on investments was NOK 954.5m (NOK 969.6m) or 6.8% (8.0%). The technical result was NOK 594.4m (NOK 246.6m) corresponding to a combined ratio of 87.3% (94.8%).
The Board has utilised its authorisation granted by the Annual General Meeting in 2021 and has resolved to distribute a special dividend of NOK 247.1m, corresponding to NOK 3.00 per share. In addition, the Board proposes an ordinary dividend for 2021 of NOK 576.6m or NOK 7.00 per share.
The SCR-ratio was 206% (190%) year-end, post dividends.