Solid Forsakringsaktiebolag · OMXSTO:SFAB
Solid Forsakringsaktiebolag — Q4 2024 Earnings Presentation
17 slides from Solid Forsakringsaktiebolag's earnings presentation, Feb 7, 2025
Slide 1: Q4 2024 Presentation
Q4 2024 Presentation
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 Stable development in the insurance business • Gross written premiums decreased by 9 % vs LY (+10 % adjusted). • Net earned premiums increased by 2 % vs LY. • Net earned premiums within segments Personal safety and Assistance grew by 5 % and 10 % respectively vs LY. • Within segment Pr
Slide 4: Stable underlying business – buy back and proposed increased dividend
Stable underlying business – buy back and proposed increased dividend • Technical result in line with LY, excluding the allocated investment return. • Increased partnerbase during the period. • Contract with Amtrust international signed during LY relating to the run-off from the acquired Car protect
Slide 5: Financial summary Q4
Financial summary Q4 - GWP decreased by 9 % vs LY (adjusted +10 %). - NEP increased by 2 % vs LY. - Technical result decreased by -6 % vs LY (35,6 MSEK). - Combined ratio (CoR) amounted to 89,2 % (88,8). - Result of asset management amounted to 7 MSEK (33,2). - Profit before tax amounted to 37,9 MSE
Slide 6: GWP development
GWP development Gross written premiums Geographical split GWP Q4 (Q4 (MSEK) Segment split GWP +7% LY) 300 286,2 1 118,2 1 200 100% 1 103,4 260,7 90% 250 1 000 34% 37% 80% 70% 200 800 60% 150 600 50% 21% 32% 40% 100 400 30% 9% (13%) 5% (5%) 20% 42% 50 200 34% 10% 72% (68%) 0 0 0% 2023 2024 2023 2024
Slide 7: Assistance
Assistance Highlights Q4 Net earned premiums (MSEK) Gross profit (MSEK) - GWP decreased by -1 % vs LY. Adjusted for 35 90 180 450 79,7 Amtrust International, GWP increased by 80 16 % driven by higher sales within 160 379,8 400 30 insurance concepts related to car 344,8 64,9 70 warranties both in the
Slide 8: Product
Product Highlights Q4 Net earned premiums (MSEK) Gross profit (MSEK) - GWP decreased by -40 % vs LY, explained 180 400 30 70 by lower sales volumes within home 338,5 160 350 57,5 electronics and the ended cooperation 25 54,8 60 with Power which had a negative impact. 140 301,9 300 Adjusted for Power
Slide 9: Personal Safety
Personal Safety Highlights Q4 Net earned premiums (MSEK) Gross profit (MSEK) 140 - GWP increased by +12 % vs LY, driven by 200 500 60 122,4 446,9 PPI in the Swedish, Finnish and Norwegian 180 450 111,1 120 410,8 markets. New partners contributed to the 50 growth during the period. 160 400 100 140 35
Slide 10: NEP development
NEP development Net earned premiums (MSEK) Comments 500 1128,6 1200 - NEP increased by 2% vs LY during the period driven by 450 1094,1 segments Personal safety and Assistance. 400 1000 - NEP in Product decreased by -12 % vs LY, mainly related to insurance concepts for home electronics. 350 800 - NEP
Slide 11: Technical result & Combined ratio
Technical result & Combined ratio Technical result (MSEK) Combined ratio 70 180 100% 100% 162,3 88,8% 89,2% 88,0% 89,6% 160 90% 90% 60 148,8 80% 80% 140 25,9% 24,1% 25,2% 25,9% Loss ratio 50 70% 70% 120 38,0 60% 60% 40 35,6 100 50% 50% 30 80 40% 40% Expense 60 63,3% ratio 63,9% 64,4% 30% 62,9% 30% 2
Slide 12: Asset management
Asset management Investment portfolio MSEK As per 2024-12-31 Cash (fixed rate) 2023-12-31 2024-09-30 2024-12-31 7% Bonds and other interest-bearing securites 883 894 849 Cash 17% Subordinated loans 92 119 120 Shares 106 116 104 Cash 274 232 246 Shares 7% Bonds and other interest-bearing Cash (fixed
Slide 13: Asset management
Asset management Result of asset management (MSEK) Result of asset management (MSEK) Total return (YTD) Q4 2023 Q4 2024 Q4-24 7,1 7,0% 6,6% Q3-24 30,3 6,2% Total investment income 21,8 22,7 Q2-24 25,3 6,0% Q1-24 28,0 Investment charges -0,7 -1,4 Q4-23 33,2 5,0% Q3-23 15,3 Q2-23 16,7 4,0% Unrealised
Slide 14: Profit before tax & EPS
Profit before tax & EPS (MSEK) SEK 100 250 10 8,99 90 219,8 9 8,67 211,2 80 200 8 70 7 64,4 60 150 6 50 5 40 37,9 100 4 30 3 20 50 2 10 1 0 0 0 2023 2024 2023 2024 2023 2024 Q4 YTD -68% -41% -4% +4% 14
Slide 15: Solvency capital requirement (SCR)
Solvency capital requirement (SCR) +28 pp +6 pp 198% Comments 1 200 192% 200% 1 100 178% 176% 180% - Q4 2023 are adjusted for foreseeable dividends 1 000 170% +28 pp while Q4 2024 are not. 900 160% 800 913 955 987 - Strong development in solvency ratio over the 700 855 888 140% year, specially in th
Slide 16: Summary Q4
Summary Q4 • Strong growth within segments Personal Safety and Assistance. • Gross written premiums decreased by 9 %, adjusted for Amtrust International and Power GWP grew +10 %. • Net earned premiums increased by 2 %. • Increased partner base during the period. • Strong capital position – SCR 198 %
Slide 17: Thank you!
Thank you! 18
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