Protector delivers an operating profit of MNOK 169.5 in the second
quarter of 2017. Premium growth continues with gross written
premiums up 23.4% compared to Q2 2016.
Gross combined ratio for the quarter totals to 143,6% driven by the
dramatic fire in UK, while the net combined ratio is strengthened
from 93,7% in Q2 2016 to 90,7% in Q2 2017 despite the Grenfell Tower
accident.
Q2 2017 shows the following development compared to Q2 2016:
- Gross premiums written MNOK 890.5, up 23.4% from MNOK 721.8
- Net combined ratio 90.7%, down from 93.7%
- Operating profit MNOK 169.5, down from MNOK 254.9 (driven by a
very strong investment result)
- Net financial income of MNOK 116.1 (1.3%), down from MNOK 220.5
(3.0%)
The company maintains its guiding for 2016 with 20% premium growth
and a combined ratio of 92%.
For further information, please see the attached report and
presentation.
Oslo, July 6th 2017
Protector Forsikring ASA