CFO steps down March 1st 2016

Robert Thornedahl (51) will step down as CFO in Protector Forsikring by March 1st
2016. The cost of being separated from his family in Denmark has been larger than
anticipated.

Robert Thornedahl (51) has 20+ years of management experience, including 7 years as
CFO and member of the Executive Board for Nykredit, as well as 4 years as Nordic
Executive Vice President for Tryg Forsikring. Thornedahl is Danish, and came from the
position as Regional CFO for Mediterranean Shipping Company (MSC).

- We regret losing Robert Thornedahl as CFO of Protector Forsikring. His competence
within insurance and management experience formed a strong basis from which he could
contribute to Protectors development, says CEO Sverre Bjerkeli.

Protector has already initiated the process of recruiting a new CFO to succeed Thornedahl.

For further information please contact:
Sverre Bjerkeli, CEO
Email: sverre.bjerkeli@protectorforsikring.no
Mobile: +47 928 38 072