Q2 2025 - Financial overview
- Profit (net income): NOK 716 millioncompared to NOK 254 million in Q2 2024
- Earnings per share (EPS): NOK 8.7instead of NOK 3.1 in the previous year
- Combined ratio (combined ratio): 84,9 %, significantly improved compared to 94.5 % in Q2 2024
- Gross written premiums (GWP): NOK 4,218 milliongrowth of 19 % (16 % in local currencies)
- Total return on investments (incl. insurance costs): NOK 468 million (previous year: NOK 242 million)
- Insurance Service Result: NOK 515 millionsignificantly above the previous year NOK 157 million
- Solvency Ratio (SCR): 220 %after dividend distribution, compared to 191 % in the previous year
- DividendDividend of NOK 2.00 per share (total NOK 165 million), payable on July 24, 2025
Half-year balance sheet (H1 2025)
- Total profit: NOK 1 457 million (previous year: NOK 710 million)
- Combined ratio: 85,4 % (previous year: 92.9 %)
- Total return on investments incl. insurance costs: NOK 1 004 million (previous year: NOK 614 million)
- Net income from assets under management: NOK 1 219 million / 4,8 % Return (previous year: NOK 621 million / 3.0 %)
Market reaction & strategic insights
- Share price reaction: After the announcement, the share price rose in pre-market trading by around 7,11 %driven by strong EPS figures
- Analysis and strategy assessment:
- The significant increase in profits (tripling) is the result of improved underwriting performance and efficient claims management strategies
- Increased premium income, particularly in the UK public sector, good growth momentum in the Nordic markets
- AM Best rating was upgraded to A- - an important prerequisite for business with institutional clients, e.g. in the UK real estate sector
- Protector was rated 8th time in a row in the UK Broker Satisfaction Index - a strong indication of customer focus and service quality
- In the middle of the year, the company plans to enter the French market (commercial segment) from January 1, 2026
Conclusion - Compact
Protector Forsikring ASA has achieved 2nd quarter 2025 presented impressive results: triple profitstrong premium income, improved combined ratio, robust investment performance and a solid capital base with high solvency. The market reaction was extremely positive, supported by a strategic focus on underwriting discipline, customer retention, expansion into new markets (e.g. France) as well as quality and growth in key segments (UK, North).
