ALM Equity AB (publ) (ALM) Q2 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:05.880 Hello, everyone, and welcome to today's on-brand Q2 2025 conference call. 00:00:05.880 -- 00:00:09.445 My name is Zeb, and I'll be your operator for the call today. 00:00:09.445 -- 00:00:14.313 If you would like to ask a question during the Q&A session, please press star 1 on your 00:00:14.313 -- 00:00:19.380 telephone keypad. If you would like to withdraw from the queue, please press star 2. 00:00:19.380 -- 00:00:23.727 I will now hand the floor to Rasmus Werner Nielsen, CEO, to begin. 00:00:23.727 -- 00:00:25.985 Please go ahead. 00:00:25.985 -- 00:00:30.392 Thank you. Good morning, and thank you for joining us on our conference call. 00:00:30.392 -- 00:00:35.400 I am Rasmus Heiner Nielsen. As usual, I have with me today our CFO, Andreas 00:00:35.400 -- 00:00:39.848 Roben Madsen, and the head of our IR team, Madsen Goh. 00:00:39.848 -- 00:00:44.375 This morning, we published our interim report for the second quarter, and as usual, I 00:00:44.375 -- 00:00:47.841 will walk you through the operating highlights, and then Andreas will comment on the 00:00:47.841 -- 00:00:49.764 financials. 00:00:49.764 -- 00:00:52.225 Please turn to slide two. 00:00:52.225 -- 00:00:57.251 I'm pleased with the overall financial performance in a satisfactory Q2, with good 00:00:57.251 -- 00:01:02.076 cost control leading to a significant drop in the expected ratio year on year, while 00:01:02.076 -- 00:01:08.063 the underlying loss ratio is strongly improving, helped by synergies and price adjustments. 00:01:08.063 -- 00:01:13.730 Organic growth of about 8% in Q2 is very satisfactory as well. 00:01:13.730 -- 00:01:18.895 We reach an insurance revenue growth of 11% in the personal lines, which 00:01:18.895 -- 00:01:24.006 implies we're taking quite a bit...