Insr: Covid-19 Update - Limited impact seen
Due to the recent Covid-19-related market-turmoil, Insr would like to give the following update:
Insr is on track to meet equity analyst consensus expectations for Q1 2020 of approximately NOK 10 million net loss (loss due to seasonal variations).
We have seen limited impact on overall claims and operational costs.
Due to the low risk profile of the investment portfolio, which does not have any equity or high yield credit exposures, the investment result is largely unaffected by the market turbulence. Neither liquidity nor solvency positions have been affected much.
We maintain all critical customer functions and expect to continue doing so going forward.
For additional information, please contact:
Anne B. Knudtzon, SVP Business Controlling & Investor Relations
Insr Insurance Group ASA
T: +47 926 10 606
Partnership insurance made easy. Insr enables you to broaden your customer or member offering through white label and co-branding insurance solutions. We provide insurance risk capital and insurance expertise, whilst you maintain your customer or member relationship. Insr is regulated by the Norwegian FSA (Finanstilsynet) and has a license for all groups of non-life insurance, except for credit and guarantee insurance.
Insr Insurance Group ASA was established in 2009 and is an independent insurance group listed on the Oslo Stock Exchange, with headquarters in Oslo. The Company's main focus is on the market for property and casualty insurance for the retail and small enterprise segments in Norway. Insr distributes its products mainly through partners and insurance agents.