Q2 2024 Protector Forsikring ASA Earnings Call Transcript
Key Points
- Protector Forsikring ASA (STU:PR4) reported a strong growth of 16% in the UK market.
- Earnings per share for the second quarter stood at NOK3.1.
- The company will pay out a dividend of NOK2 based on last year's results.
- The France project is progressing well with plans to quote business in quarter three.
- Protector Forsikring ASA (STU:PR4) has a strong renewal rate of 101% for the quarter.
- The combined ratio for the quarter was relatively high at 94.5%.
- The quarter saw a significant increase in large losses, particularly in Denmark and the UK.
- The motor insurance segment is underperforming due to delayed adjustments for high inflation.
- Equity investment performance was relatively poor compared to general indices.
- The running yield on the bond side decreased by 0.4 percentage points due to a reduction in spreads.
Hello, and welcome to presentation of quarter-two results for Protector Forsikring. I will start with our culture and what we focus on. So today, this morning, we are focused on unique relationships. When we have an ambition of being a cost and quality leader, that needs to be reflected in what we follow up. The quality side, external, has to do with the brokers who are our only partners. So we have talked about the unique relationships and how we improve that sustainable over time.
And to the results for the second quarter, the weak part of the actual number is on the combined ratio side at 94.5%. I'll come back to adjusting that and showing you our view of what the underlying reality is on the claims side later. And then, on the growth side, we have a large quarter with -- especially in the UK, with 16% growth. And the result in total gives an earnings per share at NOK3.1.
In addition to the actual results, we will pay out a dividend of NOK2 based on last year's results. But the more interesting and important
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