Protector Forsikring ASA foresees its total premium growth in 2017 to be 16%, or 18% when expressed in local-currency terms, the Norwegian insurer said Jan. 23.

Expected net growth for the first quarter is pegged at 100 million Norwegian kroner, 200 million kroner in the second quarter, 150 million kroner in the third quarter and 100 million kroner in the fourth quarter.

These expectations are based on major contracts secured in Sweden, Norway and the U.K.

The insurer said it registered gross premiums written in the last quarter of 2016 totaling 392 million kroner, which marked a 20% rise year over year.

As of Jan. 23, US$1 was equivalent to 8.36 Norwegian kroner.