Protector Forsikring reports solid Q3 2025 results, declares dividend

Protector Forsikring ASA reported a combined ratio of 83.1% for Q3 2025, maintaining strong underwriting performance, though profit for the period decreased to NOK 459m from NOK 581m in Q3 2024. Gross written premium growth was 1% (3% in local currencies) for the quarter and 16% (14% in local currencies) for Q1-Q3 2025, reaching NOK 11,165m. The company's solvency ratio stood at a robust 229% post-dividend, up from 194% in the previous year.

Total investment return, including insurance finance, for Q3 2025 was NOK 105m, significantly lower than NOK 299m in Q3 2024, primarily due to a NOK -96m loss in equities and NOK -56m from interest rate swaps. For the first nine months of 2025, the total investment return was NOK 1,108m. The Board decided to distribute a dividend of NOK 247m, equating to NOK 3.00 per share, payable on November 5, 2025, reflecting confidence in future profitability.

The company successfully placed a new Solvency II compliant Tier 2 bond of NOK 500m in Q3, further strengthening its capital position. Additionally, the portfolio transfer agreement for the Danish workers' compensation portfolio, initially expected in Q3, is now anticipated to finalize and be booked in Q4 2025, pending regulatory approvals.