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Financials

Reports, presentations & 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
23
Oct 2025
Date not set yet
Quarterly Report Q3 2025
29
Jan 2026
Date not set yet
Quarterly Report Q4 2025
18
Mar 2026
Date not set yet
Annual Report 2025

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.

Consensus estimates & analysts

Average
Q2 2025 estimates
Gross written premium (GWP)
4 084
4 071
4 065
4 114
Insurance revenue
3 399
3 418
3 282
3 459
3 436
Insurance service result
482
448
443
547
491
Cost ratio
10.5%
10.7%
10.7%
10.7%
9.8%
Combined ratio (%)
85.8%
86.9%
86.5%
84.2%
85.7%
Net income from investments
523
649
301
579
564
Profit before tax
775
800
651
858
789
EPS (NOK)
7.5
8
6
8
7
Target price per share
NOK
Average
552
NOK
Aug 6, 2025
Pareto Securities
560
NOK
Jul 14, 2025
SEB
544
NOK
Aug 6, 2025
Nordea
542
NOK
Jul 14, 2025
DNB Carnegie
560
NOK
Jul 14, 2025
Average
FY 2025 estimates
Gross written premium (GWP)
14 273
14 261
14 325
14 233
Insurance revenue
13 754
13 818
13 626
13 815
13 757
Insurance service result
1 821
1 850
1 722
1 931
1 780
Cost ratio
10.5%
10.4%
10.7%
10.6%
10.2%
Combined ratio (%)
86.8%
86.6%
87.4%
86.0%
87.1%
Net income from investments
1 761
1 919
1 521
1 838
1 766
Profit before tax
3 022
3 148
2 788
3 115
3 037
EPS (NOK)
28.8
30
27
30
29
Target price per share
NOK
Average
552
NOK
Aug 6, 2025
Pareto Securities
560
NOK
Jul 14, 2025
SEB
544
NOK
Aug 6, 2025
Nordea
542
NOK
Jul 14, 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

Financial overview

Ticker: STUDBO
Source: Euronext Public Shareholder Register
Last updated:
October 2, 2025
Gross written premium (GWP) development in MNOK:

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Read

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).

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