Solid Forsakringsaktiebolag · OMXSTO:SFAB
Solid Forsakringsaktiebolag — Q1 2022 Earnings Presentation
17 slides from Solid Forsakringsaktiebolag's earnings presentation, 2022
Slide 1: Q1 2022 Presentation
Q1 2022 Presentation @soiic. Forsakring
Slide 2: Marcus Tillberg, Sofia Andersson
Marcus Tillberg Sofia Andersson Chief Executive Officer Chief Financial Officer
Slide 3: Highlights Q1
Highlights Q1 • Strong growth in sales, GWP +25 % vs LY • All operating segments contributed to growth during the period • Technical result grew by +12% • Best Q1 in company history with regards to the technical result • Increased partnerbase during the period • Strong capital position • Negative un
Slide 4: Financial summary Q1
Financial summary Q1 - GWP growth +25% - NEP growth +14 % - Technical result grew by 12 % - Combined ratio (CoR) 88,4% - Result of asset management amounted to -14 MSEK - Operating profit -68 %
Slide 5: GWP development
GWP development Q1 +25% Segment split +7% Geographical split 300 270,1 Other 250 15% 215,9 Product 200 28% 4% Personal safety 9% 150 37% 55% 100 18% Assistance 50 35% 0 Q1 2021 Q1 2022
Slide 6: Personal safety
Personal safety Highlights Net earned premiums Gross profit 120 30 26,2 95,4 24,2 100 93,3 25 - Net earned premiums decreased in the period by -2% 80 20 - Gross written premiums increased by 10%. The increase was driven by a continued strong recovery in the 60 15 Norwegian market - Claims cost decre
Slide 7: Product
Product Highlights Net earned premiums Gross profit 100 20 90,0 17,7 - GWP grew 11 % in comparison with LY 90 83,2 18 17,2 mainly driven by the launch of Power 80 16 DK in september 2021. 70 14 - Focus on preparations for the 60 12 upcoming bicycle season. 50 10 - NEP growth 8 % mainly related to 40
Slide 8: Assistance
Assistance Highlights Net earned premiums Gross profit 100 15 14,0 - GWP increased 66% vs Q1 2021 90 85,3 - NEP growth 52 % in Q1 vs Q1 2021, 80 11,3 related to travel insurances as well as 70 insurances connected to car warranties 56,3 10 60 - New partner AD bildelar. Launch Q2 50 2022. 40 5 - Gros
Slide 9: Q1 in figures
Q1 in figures
Slide 10: NEP development
NEP development Net earned premiums Comments 300 - NEP grew by 14% during the period. Growth 268,6 driven by segment Product and Assistance. 250 234,8 - Insurance products relating to travel continued to show a strong recovery after Covid-19 200 - Insurance concepts related to car warranties 150 sho
Slide 11: Technical result & Combined ratio
Technical result & Combined ratio Technical result Combined ratio 40 100% 87,9% 88,4% 35 33,4 90% 29,9 80% 30 70% 25 60% 20 50% 15 40% 30% 10 20% 5 10% 0 0% Q1 2021 Q1 2022 Q1 2021 Q1 2022 +12% +0,5 pp
Slide 12: Asset management
Asset management Investment portfolio MSEK As per 2022-03-31 2021-03-31 2021-12-31 2022-03-31 Bonds and other interest-bearing securites 523 576 618 Cash 44% Bonds and other Subordinated loans 230 29 28 interest-bearing securites Shares 142 79 86 47% Cash 251 613 581 Total investment assets 1 146 1
Slide 13: Asset management
Asset management Result of asset management (MSEK) Result of asset management Total return 2021-03-31 2022-03-31 2,5% 2,1% 30,0 Total investment income 6,1 4,5 2,0% 20,0 1,5% Investment charges -0,5 -1,0 10,0 1,0% 0,5% 0,0 Unrealised gains/losses on investment assets recognised through profit or los
Slide 14: Operating profit
Operating profit *before appropriations and tax Operating profit 60 52,7 50 40 30 20 17,0 10 0 Q1 2021 Q1 2022 -68%
Slide 15: Solvency capital requirement (SCR)
Solvency capital requirement (SCR) SCR Comments 175% 173% - SCR grew by 11pp in comparison with Q1 2021 170% 168% but decreased in comparison with Q4 2021, -5pp 165% - When comparing Q4 2021 with Q1 2022 the slight decrease was driven by an increase in 160% capital requirement due to balance sheet g
Slide 16: Summary Q1
Summary Q1 • Strong growth in sales, GWP +25% vs LY • Net earned premiums grew by 14% • Technical profit grew by +12% • Increased partnerbase during the period • Strong capital position – SCR 168 % • Combined ratio 88,4 % • Best Q1 in company history with regards to the technical result
Slide 17: Thank you!
S, Thank yout
Solid Försäkringsaktiebolag — Q1 2022 Earnings Presentation on 6ix