Solid Forsakringsaktiebolag · OMXSTO:SFAB
Solid Forsakringsaktiebolag — Q1 2025 Earnings Presentation
15 slides from Solid Forsakringsaktiebolag's earnings presentation, Apr 24, 2025
Slide 1: Q1 2025 Presentation
Q1 2025 Presentation Solid Forsakring
Slide 2: Marcus Tillberg, CEO and Sofia Andersson, CFO
Marcus Tillberg Sofia Andersson Chief Executive Officer Chief Financial Officer 2
Slide 3: Q1 2025 summary highlights
• Gross written premiums decreased by 13 % vs LY (+5 % adjusted). • Net earned premiums decreased by 1 % vs LY. • Net earned premiums within segments Personal safety and Assistance grew by 3 % and 5 % respectively vs LY. • Within segment Product, net earned premiums decreased by -15 % vs LY. • Techn
Slide 4: Gross written premiums (MSEK)
Gross written premiums (MSEK) Segment split GWP +7% Geographical split GWP Q1 (Q1 LY) 300 100% 262,5 90% 250 36% 229,3 80% 38% 70% 200 60% 15% 150 50% 23% 40% 100 30% 9% (15%) 6% (6%) 49% 20% 39% 50 10% 69% (63%) 0 0% 2024 Q1 2025 Q1 2024 Q1 2025 Q1 Personal safety Product Assistance -13 % 6% (7%) O
Slide 5: Highlights Q1 – Assistance
Highlights Q1 Net earned premiums (MSEK) Gross profit (MSEK) - GWP decreased by -16 % vs LY. Adjusted for the new agreement with Riddermark, GWP increased by 3 % driven by higher sales within insurance concepts 100 93,6 20 related to car warranties both in the Swedish and 89,4 90 Norwegian market. 1
Slide 6: Highlights Q1 – Product
Highlights Q1 Net earned premiums (MSEK) Gross profit (MSEK) - GWP decreased by -44 % vs LY, explained by lower sales volumes within home electronics 100 20 and the ended cooperation with Power which had a negative impact. Adjusted for Power, 90 GWP decreased by -7 % vs LY. 80 78,2 14,9 15 14,3 - NE
Slide 7: Highlights Q1 – Personal Safety
Highlights Q1 Net earned premiums (MSEK) Gross profit (MSEK) - GWP increased by +10 % vs LY, driven by PPI in the Swedish market. New partners contributed 140 35 to the growth during the period. 30,6 - NEP increased by +3 % vs LY related to PPI in 120 113,6 30 28,8 110,2 Sweden and Finland. 100 25 -
Slide 8: Net earned premiums (MSEK) comments
Net earned premiums (MSEK) Comments - NEP decreased by 1% vs LY during the period driven by 300 277,8 decrease within the Product segment. 273,7 - NEP in Assistance increased by 5 % vs LY. The increase was 250 related to insurance concepts for car warranties both in Norway and Sweden. 200 - NEP in P
Slide 9: Combined ratio and technical result
Technical result (MSEK) Combined ratio 45 100% 89,3% 90,0% 38,8 90% 40 33,8 80% 35 8,9 25,4% 25,3% Loss ratio 6,3 70% 30 60% 25 50% 20 40% 15 29,9 Expense ratio 27,5 63,9% 64,6% 30% 10 20% 5 10% 0 0% 2024 Q1 2025 Q1 2024 Q1 2025 Q1 -13% +0,7 pp Excluding allocated investment return -8% 9
Slide 10: Investment portfolio as per 2025-03-31
Investment portfolio MSEK As per 2025-03-31 Cash (fixed rate) 2024-03-31 2024-12-31 2025-03-31 5% Cash 12% Bonds and other interest-bearing securites 911 849 917 Subordinated loans 132 120 127 Shares 7% Shares 113 104 95 Cash 192 246 168 Subordinated loans 9% Cash (fixed rate) 79 98 68 Bonds and oth
Slide 11: Result of asset management
Result of asset management (MSEK) Result of asset management (MSEK) Total return (YTD) Q1 2024 Q1 2025 Q1-25 13,1 2,5% Q4-24 7,1 Total investment income 19,3 19,4 Q3-24 30,3 2,0% Q2-24 25,3 2,0% Investment charges -0,8 -2,6 Q1-24 28,0 Q4-23 33,2 Q3-23 15,3 1,5% Unrealised gains/losses on investment
Slide 12: Profit before tax (MSEK)
(MSEK) 70 57,9 60 50 19,2 40,5 40 6,7 8,9 30 6,3 20 29,9 27,5 10 0 2024 Q1 2025 Q1 Technical result, excluding Allocated investment return Allocated investment return Investment return -30% 12
Slide 13: Solvency capital and SCR ratio
+12 pp +8 pp Comments 1 200 192% 200% 188% 1 100 178% 180% 176% 180% +12 pp - Q4 2024 and Q1 2025 are both adjusted for the 1 000 900 foreseeable dividends not yet paid out. 160% 800 955 700 888 913 897 916 - Strong development in solvency ratio over the year, 140% 600 specially in the light of both
Slide 14: Summary Q1 2025
• Stable development in the insurance business – underlying sales growth. • Gross written premiums decreased by 13 %, +5 % adjusted. • Strong growth within segments Personal Safety and Assistance. • Solid acquires Garantipartner and strengthen the position within car warranties in the Swedish market
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Solid Försäkringsaktiebolag — Q1 2025 Earnings Presentation on 6ix