Solid Forsakringsaktiebolag · OMXSTO:SFAB
Solid Forsakringsaktiebolag — Q4 2023 Earnings Presentation
19 slides from Solid Forsakringsaktiebolag's earnings presentation, February 2024
Slide 1: Solid Försäkring
Solid as Férsakring -. =
Slide 2: Marcus Tillberg, CEO and Sofia Andersson, CFO
Marcus Tillberg Sofia Andersson Chief Executive Officer Chief Financial Officer 2
Slide 3: Highlights Q4
Highlights Q4 Highest Profit before tax, both for the period as well as full year. * Gross written premiums at the same level as LY. + Net earned premiums decreased by -3 % vs LY. + Net earned premiums within segments Product and and Assistance decreased by -12 % respectively -8 % vs LY. + Within se
Slide 4: Growing underlying business - buy back and dividend
Growing underlying business - ' , buy back and dividend sad * Increased partnerbase during the period — signed contract with Bike benefits. * Contract with Amtrust international signed during the period relating to the run-off from the acquired Car protect AS in Norway. Positive GWP impact of 14,5 M
Slide 5: Financial summary Q4
Financial summary Q4 - GWP at the same level as LY. - NEP decreased by -3 % vs LY. - Technical result decreased by -16 % vs LY. - Combined ratio (CoR) 88,8 %. - Result of asset management amounted to 33,2 MSEK. - Profit before tax +6 % (64,4 MSEK). Solid Forsakring
Slide 6: GWP development
GWP development GWP (4) Segment split GWP (Q4) Geographical split GWP (Q4) 350 300 285,8 286,2 250 200 Assistance [J Personal safety 34% 34% 2022 2023 Solid Forsakring
Slide 7: Highlights
Highlights 4 GWP increased by 11% vs LY, driven by a one-time effect regarding the run-off ortfolio generated from the acquired Car rotect ae in Norway. Excluding this effect sales decreased by -6 % due to lower sales within travel insurance. Sales within car warranties grew during the period. NEP d
Slide 8: Highlights
Highlights 04 - GWP decreased by -10 % vs LY, mainly explained by lower sales volumes within the home electronic market in Sweden, Norway and Denmark. - NEP decreased by -12 % vs LY, mainly related to home electronic insurances in the Swedish market. - Gross profit decreased by -26 % vs LY, mainly e
Slide 9: Personal safety
Personal safety Highlights 04 GWP increased by +2 % vs LY, driven by the Swedish, Finnish and Danish market. Sales volumes in Norway decreased during the period due to our largest partner adapting to regulatory requirements. NEP increased by +10 % vs LY. Sligth increase in claims cost during the per
Slide 10: aan
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Slide 11: NEP development
NEP development Net earned premiums 450 400 350 300 250 200 Solid Forsakring 217 269 2023, 1100 1094 2022 2023, 1200 1.000 800 600 400 200 Comments - NEP decreased by -3 % vs LY, mainly realted to segments Product and Assistance. NEP within Personal Safety grew vs LY driven by the Swedish, Finnish a
Slide 12: Technical result & Combined ratio
Technical result & Combined ratio Technical result 60 ° 44,9 40 30 20 10 Solid Forsakring 38,0 2023 180 163,1 162,3 160 140 120 100 80 60 20 2022 2023 Combined ratio 100% 90% 80% 70% 60% 50% 86,1% 88,8% 2023, 86,7% 2022 88,0% 2023, 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0%
Slide 13: Asset management
Asset management Investment portfolio MSEK 2022-12-31 2023-09-30 2023-12-31 Bonds and other interest-bearing securites 79 871 883 Subordinated loans 20 42 92 Shares 1 90 106 Cash 297 316 274 Cash (fixed rate) 307 84 79 Total investment assets 1434 1403 1434 As per 2023-12-31 Cash (fixed rate). 6% \
Slide 14: Asset management
Asset management Result of asset management (MSEK) Q4 2022 Q4 2023 Total investment income 9.6 21.8 Investment charges 06 07 \Unrealised gains/losses on investment assets Irecognised through profit or loss. Shares and participating interest 109 65 Bonds and other bearing securities 08 55 Total unrea
Slide 15: Profit before tax
Profit before tax 80 250 219.8 70 64,4 60,6 200 60 50 139,2 150 40 100 30 20 50 10 0 0 2022 2023 2021 2022 a4 Y1D Solid Forsakring
Slide 16: +19 pp +5 pp
+19 pp +5 pp +19 pp +5 pp Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 15
Slide 17: Going forward - outlook
Going forward - outlook Our environment + Interest rates have stabilized and we do not expect further increases. * Challenging times for the consumer. Impact on Solid * The current market climate impacts the retail industry and travel market. * Historic impact on Solid in downturns has been limited
Slide 18: Summary Q4
Summary Q4 Profit before tax grew 6 %. Strong quarter in the investment portfolio. Net earned premiums decreased by -3 %. Increased partnerbase during the period. Strong capital position — SCR 186 %. Buy back program continued during the quarter and will resume after the release of the O4 report. Hi
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Solid Försäkringsaktiebolag — Q4 2023 Earnings Presentation on 6ix