Interim Report Q4 2022
Highlights Q4 and preliminary full year 2022
A strong quarter and full year results
Protector Forsikring ASA recorded a profit of MNOK 613.1m (NOK 238.8m) for the quarter. The result is driven by a strong return on investments and a good technical result. The return on investments was NOK 662.8m (NOK 237.4m) or 4.6% (1.7 %). The technical result was NOK 109.4m (NOK 101.2m) corresponding to a combined ratio of 91.6 % ( 91.6 %).
In Q4, the gross written premiums amounted to MNOK 1,275.2 up 62 % (60 % in local currencies) relative to Q4 2021. The strong growth is mainly driven by the UK and Sweden. Furthermore, premium growth is supported by a low client churn and continued price increases. For the full year, gross written premium came in at NOK 7,097.8m, up 19 %, (21 % in local currencies) relative to 2021.
In 2022, the company recorded a profit of NOK 809.5m (NOK 1,204.0m). The technical result was NOK 599.6m (NOK 594.4m) corresponding to a combined ratio of 88.9 % (87.3 %). The return on investments was NOK 500.6m (NOK 954.5m) or 3.4 % (6.8 %).
The Board has utilised its authorisation granted by the Annual General Meeting in 2022 and has resolved to distribute a special dividend of NOK 494.3m, corresponding to NOK 6.00 per share.
The SCR‐ratio was 195 % (206 %) year‐end, post dividends.
Q4 2022 shows following development compared to Q4 2021:
- Premium growth in local currencies 60 % (14 %)
- Net combined ratio 91.6 % (91.6 %)
- Net return on investments NOK 662.8m (NOK 237.4m) or 4.6 % (1.7 %)
- Profit for the period 613.1m (NOK 238.8m)
- Solvency margin of 195 % (206 %)
FY 2022 showsthe following development compared to FY 2021:
- Premium growth in local currencies 21 % (10 %)
- Net combined ratio 88.9 % (87.3 %)
- Net return on investments NOK 500.6m (NOK 954.5m) or 3.4 % (6.8 %)
- Profit for the period 809.5m (NOK 1,204.0m)
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