Alm Brand A/S (ABDBY) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello, everyone. Thank you for joining us and welcome to the Alm Brand Second Quarter twenty twenty six Earnings Call. After today's prepared remarks, we will host a question and answer session. To withdraw your question, please press star one again. I will now hand the conference over to Andreas Rubin Madsen, CEO at Alm Brand. Please go ahead. Good morning. Thank you for joining us on our conference call. I'm Andreas Rubemmatson, CEO of Alm Brand Group. As usual, I have with me the head of our RR team, Matt Stingle. This morning, we published our interim report for the second quarter of twenty six, and I'll walk through the presentation of our results. Let's now turn to slide two and the key highlights for my first full quarter as CEO. Overall, I'm very pleased with the financial performance in q two. We delivered a strong underlying improvement in the claims ratio, which improved by 200 basis points year on year. At the same time, results in Q2 were negatively impacted by a 700,000,001 off reserve strengthening following the Supreme Court ruling on workers' compensation. In personal lines, growth slowed a bit in the quarter, as expected, due to the year on year effects from last year's repricing fading. However, a growth rate of above 5% during Q2 still indicates that we continue to gain market shares. In Commercial Lines, we experienced a decline in the top line, reflecting our actions to improve profitability in an increasingly soft market for workers' compensation, while seeking to reduce volatility at the same time. Adjusted for the areas we work on in this respect, which is workers compensation and industrial customers, the commercial portfolio reflected a premium growth of 1.0% year on year. Importantly, we improved the underlying claims ratio in commercial l...