Brief: Protector Forsikring To Leave COI Market

Protector Forsikring ASA

19/12/2018 07:25

Dec 19 (Reuters) - Protector Forsikring ASA  PROTCT.OL :
    * SAID ON TUESDAY IT HAS DECIDED TO WITHDRAW FROM CHANGE OF
OWNERSHIP INSURANCE (COI) MARKET
    * DECIDED TO LEAVE THE MARKET DUE TO PRODUCT'S WEAK
TECHNICAL
PERFORMANCE IN RECENT YEARS AND SIGNIFICANT UNCERTAINTY RELATED
TO PRODUCT'S FUTURE PREMIUM VOLUME AND PROFITABILITY
    * COI PRODUCT ACCOUNTS FOR LESS THAN 10% OF CO'S TOTAL
BUSINESS
    * DECISION TO LEAVE THE COI MARKET WILL INITIALLY AFFECT
LESS THAN
10 EMPLOYEES
    * HAS AN UNCHANGED RESERVE VIEW AND EXPECTS A SMALL POSITIVE
GAIN
OVER THE RUN-OFF PERIOD

    
 Source text for Eikon:  urn:newsml:reuters.com:*:nObisKwsYa
    
 Further company coverage:  PROTCT.OL  
   


 (Gdynia Newsroom)
 ((Gdynia.newsroom@thomsonreuters.com; +48 58 772 0920;))