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Financials

Reports, presentations and documents

See all financial reports

Financial calendar

Further details regarding presentations and webcasts etc will be added closer to the event.

Protector Forsikring ASA reserves the right to amend the dates.
See all events
Coming events
29
Jan 2026
Date not set yet
Quarterly Report Q4 2025
18
Mar 2026
Date not set yet
Annual Report 2025
09
Apr 2026
Date not set yet
Annual General Meeting

Financial targets

Combined ratio
Target: <91%
Geographical sales distribution:
*includes Finland
Solvency capital ratio
Target: >150%
Geographical sales distribution:
*includes Finland

Flexible dividend policy

Solvency ratio zone assessment
Move towards ‘Green’ if we see e.g. profitable insurance growth, risk-taking in investment portfolio, other attractive allocation opportunities and/or market/macro turbulence.
Move towards ‘Red’ if we see e.g. limited growth opportunities, very low risk, no near-term allocation opportunities and have good future visibility
Solvency capital ratio
150%
200%
Capital distributed over time
Shareholder distribution normally 20%-80% of net profit
Quarterly assessment, all allocation alternatives evaluated
Profitable insurance growth always prioritized
Build solvency capital
The Board prepares quarterly distribution assessments on the basis of the most recently approved annual accounts.

Financial overview

Ticker: STUDBO
Source: Euronext Public Shareholder Register
Last updated:
October 31, 2025
Gross written premium (GWP) development in MNOK:

Sample

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Documents

IR policy
Policy for financial and other investor information is described in the company's IR Policy. (PDF, 128KB)
Credit rating
Here you may find official credit rating documents.

Protector Forsikring ASA has been credit rated by AM Best, one of the marked leaders internationally within rating of insurance companies.

AM Best has given us the following rating:
- Long-Term Issuer Credit Rating: a- (Excellent) and Stable outlook
- Financial Strength Rating: A- (Excellent) and Stable outlook

For more detailed information on AM Bests rating of us, click here (PDF).

Consensus estimates and analysts

Average
Q3 2025 estimates
Gross written premium (GWP)
1 898
1 950
1 948
1 839
1 856
Insurance revenue
3 522
3 554
3 516
3 503
3 515
Insurance service result
499
498
534
481
482
Cost ratio
10.7%
11.1%
10.7%
10.0%
11.0%
Combined ratio (%)
85.8%
86.0%
84.8%
86.3%
86.3%
Net income from investments
303
153
466
429
166
Profit before tax
742
613
911
844
599
EPS (NOK)
6.9
5
9
8
5
Target price per share
NOK
Average
554
NOK
Oct 28, 2025
Pareto Securities
560
NOK
Jul 14, 2025
SEB
527
NOK
Oct 28, 2025
Nordea
568
NOK
Oct 24, 2025
DNB Carnegie
560
NOK
Jul 14, 2025
Average
FY 2025 estimates
Gross written premium (GWP)
14 390
14 408
14 593
14 259
14 299
Insurance revenue
13 828
13 837
13 969
13 736
13 771
Insurance service result
1 899
1 956
2 037
1 813
1 788
Cost ratio
10.9%
10.9%
10.9%
10.8%
11.0%
Combined ratio (%)
86.3%
85.9%
85.4%
86.8%
87.0%
Net income from investments
1 842
1 709
1 990
1 973
1 695
Profit before tax
3 238
3 197
3 486
3 258
3 009
EPS (NOK)
30.3
30
33
31
28
Target price per share
NOK
Average
554
NOK
Oct 28, 2025
Pareto Securities
560
NOK
Jul 14, 2025
SEB
527
NOK
Oct 28, 2025
Nordea
568
NOK
Oct 24, 2025
DNB Carnegie
560
NOK
Jul 14, 2025
See all
Target price per share
440 NOK
440 NOK
440 NOK
440 NOK
Q2 estimates
Share price
Share price
Share price
Share price
Gross written premium (GWP)
Share price
Share price
Share price
Share price
Insurance revenue
Share price
Share price
Share price
Share price
Gross written premium (GWP)
Share price
Share price
Share price
Share price
Protector Forsikring ASA invite external independent analysts covering our company to provide consensus estimates, and we will share a summary of these on our webpages every quarter. The consensus represent the average of the individual estimates provided by the analysts. Protector will not take responsibility for the content within the respective broker houses' estimates. Links below will take you to our latest updated consensus estimates
Analyst
Pareto Securities AS
Price target (25.04.2025)
400 NOK
Analyst
SEB
Price target (18.06.2025)
440 NOK
Analyst
Nordea
Price target (25.04.2025)
400 NOK
Ulrik Årdal Zürcher
Analytiker, Equity Research
Analyst
DNB Markets
Price target (24.04.2025)
380 NOK
Latest
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Analyst
Pareto Securities AS
Price target (25.04.2025)
400 NOK
Analyst
SEB
Price target (18.06.2025)
440 NOK
Analyst
Nordea
Price target (25.04.2025)
400 NOK
Ulrik Årdal Zürcher
Analytiker, Equity Research
Analyst
DNB Markets
Price target (24.04.2025)
380 NOK

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