ALM Equity AB (publ) (ALM) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning or good afternoon and welcome to the Arm Brand Q1 2025 results call. My name is Adam and I'll be your operator today. If you'd like to ask a question at the Q&A portion of today's call, you can do so by pressing start or by one on your telephone keypad to enter the queue. I will now hand the floor to Rasmus Werner-Nielsen to begin. So Rasmus, please go ahead when you're ready. Good morning and thank you for joining us on our conference call. I'm Rasmus Werner-Nielsen as usual. I have with me today our CFO Andreas Ruben Madsen. and the head of our IIR team, Matt Zinkel. This morning, we published our interim report for the first quarter. And as usual, I will walk you through the operating highlights and then Andreas will comment on the financials. Let's now look at the highlights and please turn to slide two for some of the headlines regarding our business for the first month of the year. As mentioned before, I'm pleased with the overall financial performance. In a satisfactory Q1, we sustained strong organic growth and good cost control leading to a significant drop in the expense ratio year-on-year. We reach a premium growth of 8.2% in personal lines despite one day less than in the first quarter of 2024. This implies we are taking quite a bit of market share in personal lines with our strong bank partnership as a driver. Synergies are kicking in just as we planned and currently we see good momentum for claims as well as cost synergies. It justifies significantly lower discounting effect on claims, as well as an underlying one-off gain. In Q1 last year, we reached an improvement in the underlying loss ratio of around two percentage points. In Q1, we streamlined our group executive management from five to four members, with our CFO, Andreas Ruben Madsen,...