Alm Brand A/S (ABDBY) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

call today. If you would like to ask a question during the Q&A session, please press star 1 on your telephone keypad. If you would like to withdraw from the queue, please press star 2. I will now hand the floor to Rasmus Werner Nielsen, CEO, to begin. Please go ahead. Thank you. Good morning, and thank you for joining us on our conference call. I am Rasmus Werner Nielsen, as usual, I have with me today our CFO, Andreas Ropen Madsen, and the head of our IR team, Matt Tinkle. This morning, we published our interim report for the second quarter, and as usual, I will walk you through the operating highlights, and then Andreas will comment on the financials. Please turn to slide two. I'm pleased with the overall financial performance in the satisfactory Q2, with good cost control leading to a significant drop in the expected ratio year-on-year, while the underlying loss ratio is strongly improving helped by synergies and price adjustments. Our organic growth of about 8% in Q2 is very satisfactory as well. We reach an insurance revenue growth of 11% in the personal lines, which implies we're taking quite a bit of market share with our strong bank partnerships as a driver while price adjustments are kicking in as well. Synergies are materializing just as we planned and currently we see good momentum for claims as well as cost synergies. As justice for significantly lower discounting effect on claims, we reach an improvement in the underlying loss ratio of about five percentage points. And now I'll turn to slide three with our financial highlights. Insurance revenue grew to about 2.9 billion in the quarter with a very satisfactory growth in personal lines, as mentioned before. The technical result was 520 million compared to 312 million last year. We view this as a healthy i...