Brief: Protector Forsikring: Result Update Q4 2018 And Combined Ratio Guiding 2019

Protector Forsikring ASA

07/12/2018 06:37

Dec 7 (Reuters) - Protector Forsikring ASA  PROTCT.OL :
    * RESULT UPDATE Q4 2018 AND COMBINED RATIO GUIDING 2019
    * NET COMBINED RATIO FOR COMPANY IN 2019 IS EXPECTED TO BE
AROUND
96%
    * SAYS Q4-FIGURES WILL BE POOR AND NET COMBINED RATIO WILL
BE >
100%
    * Q4-FIGURES WILL BE POOR AND NET COMBINED RATIO WILL BE >
100%
    * A SIGNIFICANT LOSS RELATED TO GRAY SILVERFISH IS TAKEN IN
Q3
2018, BOTH RELATED TO 2018 AND PREVIOUS YEARS
    * NUMBER OF CLAIMS HAVE ESCALATED DURING 2018 AND EVEN MORE
IN Q3
2018
    * WE WILL EXCLUDE GRAY SILVERFISH FROM POLICY TERMS STARTING
NOVEMBER 1ST.
    * WE MIGHT LOSE SIGNIFICANT VOLUME, OR WE COULD BE OUT OF
MARKET
AFTER SUCH AN EXCLUSION ,IF COMPETITORS DO NOT FOLLOW
    * WE INTEND TO BOOK 2019 GRAY SILVERFISH TAIL IN 2018
    * NUMBER OF CLAIMS IN Q4 ARE HIGHER THAN Q3, AS EXPECTED IN
OUR
RESERVE SETTING.
    * GRAY SILVERFISH IS EXCLUDED FROM POLICY TERMS AS PLANNED
    * COMPETITORS HAVE, AS FAR AS WE KNOW, NOT FOLLOWED UP WITH
EXCLUSIONS IN THEIR POLICY TERMS

Source text for Eikon:  ID:nObiWd5BFa 
Further company coverage:  PROTCT.OL 

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