Protector Forsikring ASA (PSKRF) Q4 2025 Earnings Call Transcript

Henrik Høye
Chief Executive Officer

All right. Welcome to presentation of Protector’s full year ’25 results. We will focus on the full year. The quarter is volatile. We say that all the time, focus on the full year result that is more interesting and says more about the underlying realities of the business.

And before I go into the results, I always spend a little bit of time on who we are. And what we did this morning was to continue on looking at what the challenger should be in the future. And one thing that we care about is that we — even when we are 700 people, even when we grow in a number of countries that we still act as one team, which is a bit contradictory to a performance culture where we compete against each other and also that we want local decisions and also that we want each individual in the company to make decisions because they are where it happens and they should know what decisions to make. So that’s what the challenger is. It is about making everything we do, focused and simplistic. But when it comes to culture, we need to complicate it in order to spend time and really understand. So that we’re on the same platform and the same grounds for the future because I think that’s extremely important in order to stay who we are, the challenger.

And then to the highlights, other than that 84.7% combined ratio and a 14% growth with an investment result of a return of NOK 1.5 billion, leading to NOK 31.7 per share in