Q4 2024 Protector Forsikring ASA Earnings Call Transcript
Key Points
- Protector Forsikring ASA (FRA:PR4) reported strong growth in 2024, particularly in the UK, with significant contributions from all countries except Sweden.
- The company has successfully increased its market share in the public sector and housing segments, which now represent close to 50% of premiums.
- Protector Forsikring ASA (FRA:PR4) has maintained a high renewal rate, driven by low churn and effective price increases to counter claims inflation.
- The company's strategic entry into the French market is progressing well, with a focus on public sector and motor fleet segments, supported by strong broker relationships.
- Protector Forsikring ASA (FRA:PR4) has managed to keep IT costs stable despite significant premium growth, indicating efficient resource management.
- The cost ratio for Q4 2024 was a weak point, with inefficiencies noted despite recruitment efforts to support growth.
- Protector Forsikring ASA (FRA:PR4) experienced volatility in loss ratios due to large losses and runoff situations, particularly in Denmark.
- Growth in Sweden was negatively impacted by a portfolio cleanup, which temporarily reduced growth figures.
- The French market entry poses risks, with potential volatility in loss history and growth as the company builds a critical mass.
- The company faces challenges in achieving profitability improvements in Denmark, with a need for further price increases above claims inflation.
Welcome to the presentation of full year 2024 results for Protector Forsikring. We'll focus on the full year results and make some comments on the quarter four throughout the presentation where there is something special to comment.
And I think, it's okay that we have questions during the presentation that gives you better dynamics. So please feel free to raise your hand where you have questions. And we will also have some time after the presentation of course for questions.
And we had a session this morning and with the employees as always one of the targets for next year on a company level is data quality. I think that's related to a lot of our culture. But over time, it should be something that drives both cost and quality leadership and it really needs to be owned by everyone who works in Protector. We spend some time on understanding what that is and setting targets for that for 2025 and the longer term.
So to 2024, I will get back to this slide, which is the summary. So I think I'll very soon jump
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
