Protector Forsikring (PROT) Investor presentation summary

Strategic positioning and values

• Focus on cost and quality leadership to drive profitable growth and achieve a top 3 market position.

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

• Emphasizes credibility, innovation, openness, boldness, and commitment as core values.

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

Growth and market expansion

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

• Expanded operations to six countries: Norway, Sweden, Denmark, Finland, the UK, and France.

• Consistent double-digit annual premium growth, with 16% LCY GWP growth in H1 2025.

• Top 3 position in brokered P&C insurance in Nordics and public sector UK; No. 1 in Nordic motor fleet and municipalities.

Financial performance and profitability

• Combined ratio improved to 88.1% in 2024 and 84.9% in Q2 2025, outperforming the long-term target of <91%.

• Return on equity reached 31.6% in 2024, with a long-term target of at least 20%.

• Net profit for 2024 was NOK 1.5 billion; market cap at NOK 38 billion as of September 2025.

• Cost ratio improvements driven by volume growth and disciplined underwriting.