Solid Forsakringsaktiebolag · OMXSTO:SFAB
Solid Forsakringsaktiebolag — Q4 2021 Earnings Presentation
17 slides from Solid Forsakringsaktiebolag's earnings presentation, 2022
Slide 1: Q4 2021 Presentation
Q4 2021 Presentation
Slide 2: Presenters: CEO and CFO
Marcus Tillberg Sofia Andersson Chief Executive Officer Chief Financial Officer
Slide 3: Highlights 2021
Highlights 2021 Listed New partnerships GWP >1 billion sek Listed on Nasdaq Stockholm, small cap Several new and extended partnerships FY GWP amounted to 1 013 MSEK December 1 which has grown our partnerbase NRI +8 % +7 % Technical profit grew by 7 % Encountered NRI of 10,4 MSEK 2021 related to Net
Slide 4: Summary Q4
Summary Q4 - GWP growth +13% - All operating segments contributed to growth during the period - NEP growth +12 % - NEP growth in Assistance + 47 % - Combined ratio* 87,7% - Result of asset management amounted to 6,7 MSEK - NRI relating to IPO amounted to 8,5 MSEK - New partnership with Svea Bank – e
Slide 5: GWP development
GWP development Q4 +13% FY +7% Geographical split, FY 1013,4 300 1 000 951,5 Other 281,0 247,7 8% 250 800 5% 7% 200 600 150 17% 400 100 64% 200 50 0 0 Q4 2020 Q4 2021 2020 2021
Slide 6: Personal safety
Personal safety Share of NEP 2021 (FY) Highlights Net earned premiums Gross profit 450 - New partnership with Svea Bank – 140 396,6 40 98,1 98,9 100 estimated launch Q4 2022 374,4 400 90 120 35 350 80 - GWP +2%. The increase is driven by 97,0 30 100 91,9 300 70 recovery in the Norwegian market 24,6
Slide 7: Product
Product Share of NEP 2021 (FY) Highlights Net earned premiums Gross profit 400 - Launch of Power DK had a positive 140 346,6 40 70 effect on GWP in Q4. GWP increased 324,7 350 62,9 63,3 120 +5% vs Q4 2020 300 35 60 100 91,2 30 50 - Launched insurance product for used 83,3 250 25 homeelectronic goods
Slide 8: Assistance
Assistance Share of NEP 2021 (FY) Highlights Net earned premiums Gross profit - GWP increased +48 % vs Q4 2020 60 300 40 140 260,3 53,3 - NEP growth +47 % in Q4 vs Q4 2020, 35 related to travel insurances as well as 120 250 50 insurances connected to car warranties 30 40,9 91,2 191,3 100 200 40 83,3
Slide 9: Q4 in figures
Q4 in figures
Slide 10: NEP development
NEP development Net earned premiums Comments 600 1000 981,3 - Growth mainly driven by segment Assistance. 980 500 - Increase with insurance products relating to travel 960 implying a strong recovery after Covid-19 400 940 - Insurance concepts related to car warranties 300 258,5 showed strong growth
Slide 11: Technical result
Technical result Technical result Adjusted technical result ex NRI (IPO) 70 140 60 140 124,6 116,9 114,2 116,9 60 120 120 50 50 100 100 40 35,7 36,2 40 35,7 80 80 30 30 27,7 60 60 20 20 40 40 10 10 20 20 0 0 0 0 Q4 20 Q4 21 2020 2021 Q4 20 Q4 21 2020 2021 -22% -2% +1% +7%
Slide 12: Combined ratio
Combined ratio Combined ratio Adjusted combined ratio ex NRI (IPO) 100% 100% 100% 100% 91,0% 89,3% 86,5% 88,2% 86,5% 87,7% 88,2% 88,2% 90% 90% 90% 90% 80% 80% 80% 80% 70% 70% 70% 70% 60% 60% 60% 60% 50% 50% 50% 50% 40% 40% 40% 40% 30% 30% 30% 30% 20% 20% 20% 20% 10% 10% 10% 10% 0% 0% 0% 0% Q4 20 Q4
Slide 13: Operating profit
Operating profit *before appropriations and tax Operating profit Adjusted operating profit ex NRI (IPO) 80 151,4 160 80 180 161,8 70 140 70 160 120,6 140 60 120 60 120,6 120 50 100 50 41,0 41,0 39,4 100 40 80 40 30,9 80 30 60 30 60 20 40 20 40 10 20 10 20 0 0 0 0 Q4 20 Q4 21 2020 2021 Q4 20 Q4 21 20
Slide 14: Asset management
Asset management Investment portolio MSEK Result of asset management Total return 40 50 2020-12-31 2021-12-31 35 41,9 45 40 4% 3,6% Bonds and other interest-bearing securites 30 493 576 35 4% 25 30 3% Subordinated loans 230 29 20 25 3% 20 2% Shares 98 79 15 12,0 15 2% 1,3% 9,0 10 6,7 10 1% Cash 328
Slide 15: Solvency capital requirement (SCR)
Solvency capital requirement (SCR) SCR Comments 175% 173% - Increased eligible own fund driven by positive 170% operating profit 165% - Slight increase in capital requirement due to 160% balance sheet growth and continued expected growth in the insurance portfolio. 155% 150% 148% 145% 140% 135% 2020
Slide 16: Financial targets
Financial targets Growth Combined ratio Return Solvency Dividend policy 4-7 % <90 % >14 % ≥150 % >50 % An annual growth in net Maintain a combined ratio of Aim to achieve a RoNAV (2) of Aim to maintain a SCR coverage Aim to maintain a pay-out ratio earned premiums of 4-7% no more than 90% more than
Slide 17: Thank you!
S, Thank yout
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