Alm Brand A/S (ABDBY) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello, everyone. Thank you for joining the R1 Brand Q3 2025 call. My name is Sammy. I'll be coordinating your call today. During the presentation, you can register a question by pressing star followed by one on your telephone keypad. If you change your mind, please press star followed by two on your telephone keypad to remove yourself from the question queue. I'd now like to hand over to our host, Rasmus Nielsen, CEO to begin. Please go ahead, Rasmus. Thank you. Good morning, and thank you for joining us on our conference call. I'm Rasmus H. Nielsen. As usual, I have with me today our CFO, Andreas Ruben Madsen, and the head of our IR team, Mads Tinkoff. This morning, we published our interim report for the third 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 quite pleased with the overall financial performance in Q3, which had strong organic growth and good cost control, at the same time as the underlying loss ratio was improving, helped by synergies and price adjustments. We reached an insurance revenue growth of 10% in 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 still kicking in as well. Synergies are materializing better than planned. In Q3, we have reached a run rate that exceeds and 600 million synergies per year originally communicated. Adjusted for a lower discounting effect on claims, claims will reach an improvement in the underlying loss ratio of about three percentage points year-on-year. Lower costs and lower underlying losses were the main drivers behind an improvement in the combined ratio to 82.2 from 85.7 in Q3 last year. And now I turn to slide th...