Operating result 2010 30% stronger than guided - 15% growth in 2011

The premium volume and operating result are stronger
than earlier communicated to the market.

Volume update: Within the commercial and public lines
of business the January volume amounted to NOK 411
million, up 20 % compared to January 2010. In 2011
the company expects a total premium growth of 15 %.
The growth expectation includes also Protectors start
up in Sweden.

The company experienced a strong premium growth in Q4
2010. GWP amounted to NOK 163 million, up 29 %
compared with Q4 2009. GWP in 2010 were NOK 1.011
million, up 16 % compared to 2009.

Update operating profit: The operating profit in Q4
is driven by a strong return on investments. The
company's operating profit in 2010 is expected to be
approx 30% stronger than the previously guided NOK
180 million.
The cost related to the termination of the option
scheme in Q4 2010, will not be recognized in the P&L
account (notification to Oslo Stock Exchange 28
December 2010, 3 January 2011), NOK 9 million will be
booked against the equity.

Further and more detailed guiding for 2011 will be
given 24 February together with preliminary annual
result figures for 2010.

Oslo, 27 January 2011
Protector Forsikring ASA


Contact:
Sverre Bjerkeli (CEO), phone: +47 928 38 072,
Ditlev de Vibe Vanay (CFO), phone: +47 934 80 393