February 28, 2020 / 6:12 AM / a month ago

BRIEF-Insr Insurance Group ASA - Q4 Net Result From Operations Was A Loss Of Nok 17.0 Million

Feb 28 (Reuters) - Insr Insurance Group ASA:

* INSR INSURANCE GROUP ASA - RESULT IN Q4, A LOSS OF NOK 16.9 MILLION, IS PULLED DOWN BY NOK 18.1 MILLION NON-RECURRING EXPENSES

* INSR INSURANCE GROUP ASA - OF FINANCIAL YEAR 2019 LOSS OF NOK 92.1 MILLION, NEARLY HALF RELATES TO DISCONTINUED BUSINESS

* INSR INSURANCE GROUP ASA - INSR AIMS FOR PROFITABILITY IN 2020

* INSR INSURANCE GROUP ASA - INSR IS WELL POSITIONED TO HANDLE INSURANCE RESULT VOLATILITY WITHIN ITS CURRENT CAPITAL BASE.

* INSR INSURANCE GROUP ASA - CAPITAL WILL GROW WITH PROFIT.

* INSR INSURANCE GROUP ASA - Q4 PREMIUM EARNED FOR OWN ACCOUNT (NET) WAS NOK 194.5 MILLION (NOK 181.9 MILLION)

* INSR INSURANCE GROUP ASA - Q4 NET RESULT FROM OPERATIONS WAS A LOSS OF NOK 17.0 MILLION (LOSS OF NOK 13.2 MILLION)

* INSR INSURANCE GROUP ASA - Q4 GROSS LOSS RATIO WAS 76.4% (84.0%)

* INSR INSURANCE GROUP ASA - Q4 NET COMBINED RATIO WAS 109.2% (109.9%) AND GROSS COMBINED RATIO 105.9% (111.1%)

* INSR INSURANCE GROUP ASA - Q4 SOLVENCY RATIO WAS 147%. AT END OF Q3 `19, PRO FORMA SOLVENCY RATIO INCLUDING EQUITY ISSUED IN OCTOBER WAS 156% Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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