Q3 2024 Protector Forsikring ASA Earnings Call Transcript
Key Points
- Protector Forsikring ASA (STU:PR4) reported a strong combined ratio, indicating solid profitability despite slight adjustments needed for normalization.
- The company achieved a significant milestone by receiving written confirmation from clients in France, increasing the probability of accessing the French market.
- There were positive runoff gains in Norway and Sweden, contributing to strong quarterly results.
- The company maintained a strong renewal rate across most markets, indicating customer retention and satisfaction.
- Protector Forsikring ASA (STU:PR4) is recognized as a quality leader by brokers in its main markets, providing a competitive advantage.
- Denmark experienced a high share of large losses, particularly in the property sector, affecting overall results.
- The UK market saw low growth due to the loss of a large client, impacting quarterly performance.
- The company faces challenges in recruiting enough personnel to match growth, particularly in the UK.
- Protector Forsikring ASA (STU:PR4) is holding more capital due to increased probability of French market entry, which may impact short-term financial flexibility.
- There is ongoing volatility in growth figures, particularly in smaller markets like Denmark, which can affect overall performance.
Hello, everyone. And thank you for joining the presentation of our quarter three results. Today, I'm going to remember to say that you should ask questions. You can ask questions during the presentation also in the webcast. But but if you have any, any questions during the presentation here for who you are physically present, please just raise your hands. We'll do that as well.
I will start with saying a few words about our focus this morning, which I normally do. So we've met all the, the team, all the employees this morning and we haven't talked about anything that is on the screen, but we've talked about what is around it and that is what we call one team. So it's, it's a well used and, and, and not very valuable expression in itself. But the point is that the topics that we have talked about has been all employees requiring that they get something out of our leaders who are part of a leadership development program. Because when we have that program, we can have fun and we can be inspired. But that's only 1/6 of the
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