Protector Forsikring (PROT) Investor presentation summary

Strategic focus and vision

• Pursues cost and quality leadership to achieve profitable growth and a top 3 market position in all entered segments.

• Operates exclusively through broker distribution, targeting public sector, commercial, and affinity markets.

• Emphasizes a disciplined, performance-driven culture and values such as credibility, innovation, boldness, and commitment.

• Maintains a challenger mindset, leveraging unique relationships and best-in-class decision-making.

Financial performance and growth

• Achieved organic growth from zero to over NOK 12 billion in gross written premiums across six markets since 2004.

• Reported a combined ratio of 88.1% and return on equity of 31.6% for 2024.

• Net profit reached NOK 1.5 billion in 2024, with a market capitalization of NOK 38 billion as of September 2025.

• Maintains a long-term combined ratio target below 91%.

• Q2 2025 combined ratio was 84.9%, with earnings per share at 8.7 and a dividend of NOK 2.00 per share.

Market position and operational highlights

• Holds top 3 positions in brokered P&C insurance in the Nordics and public sector UK, and is number 1 in Nordic motor fleet and municipalities.

• Broker satisfaction is a key metric, with the UK Broker Satisfaction Index ranking #1 in 2025.

• Focuses on disciplined underwriting, risk management, and cost leadership to drive profitability.

• Product mix includes short-tail insurance liabilities and a strong presence in public, housing, and commercial segments.