Protector delivers an operating profit of MNOK 170.5 in the
third quarter of 2016, primarily driven by a strong
investment result. Premium growth continues with gross
written premiums up 12.6% compared to Q3 2015, whilst
combined ratio is up due to a higher number of property
claims and Denmark showing weak results.
Q3 2016 shows the following development compared to Q3 2015:
- Gross premiums written MNOK 412.8, up 12.6% from MNOK
366.5
- Net combined ratio 97.1%, up from 88.7%
- Operating profit MNOK 170.5, up from MNOK 40.7
- Net financial income of MNOK 160.7 (2.2%), up from MNOK
-19.9 (-0.3%)
The company maintain its guiding for 2016 when it comes to
premium growth of 22% and gross cost ratio below 7.5%, but
the combined ratio is adjusted from 90% to 95% for the year.
The return on equity YTD is 18.3% (not annualized) and the
first 9 months operating profit is the best ever (MNOK
470.6).
For further information, please see the attached report and
presentation.
Oslo, October 28th 2016
Protector Forsikring ASA