Vardia Insurance Group ASA provided earnings guidance for the third quarter of 2015. For the quarter gross written premiums in the third quarter 2015 were NOK 315 million compared to NOK 263 million, an increase of 20% compared to the third quarter 2014. Earned premium for own account was NOK 88 million compared to NOK 57 million, an increase of 54%.

The gross loss ratio in the third quarter was 97% and 81% net of reinsurance. Adjusted for large losses, the gross loss ratio would be approximately 82%. The gross combined ratio for the quarter was 133% and accumulated for the last nine months 121%.

Net of reinsurance, the combined ratio was 155% for the third quarter and 160% for the first nine months, compared to 134% and 172% for the same periods last year, respectively. Vardia reported a net loss for the period of NOK 56 million compared to NOK 17 million a year ago. On 30 September 2015, the solvency margin capital was NOK 90 million and the solvency margin was 69 %.

Vardia's net losses excluding the one-off expenses were NOK 20 million in the third quarter.