Norway insurer Protector Forsikring's Q2 profit up, combined ratio improves
Norway insurer Protector Forsikring's Q2 profit up, combined ratio improves
Overview
Norway insurer's Q2 net income rose yr/yr, while gross written premiums fell 2%
Combined ratio improved to 81.5% from 84.9%
Company declared NOK 3.00 per share dividend, payable July 23
Outlook
Protector Forsikring did not provide specific guidance or outlook for future periods in press release
Result Drivers
UNDERWRITING IMPROVEMENT - Combined ratio improved to 81.5% from 84.9%, indicating better underwriting performance
Company press release: ID:nMFN6bMGjL
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Net Income |
| NOK 755 mln |
|
Q2 Combined Ratio |
| 81.5% |
|
Q2 Dividend |
| NOK 3 |
|
Q2 Solvency Ratio |
| 221% |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the multiline insurance & brokers peer group is "buy"
Wall Street's median 12-month price target for Protector Forsikring ASA is NOK600.00, about 17.2% above its July 9 closing price of NOK512.00
The stock recently traded at 19 times the next 12-month earnings vs. a P/E of 16 three months ago
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)