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

Investor webinar replay

Replay transcript excerpt

Hello, everyone, and welcome to today's on-brand Q2 2025 conference call. My name is Zeb, and I'll be your operator for the 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 Heiner Nielsen. As usual, I have with me today our CFO, Andreas Roben Madsen, and the head of our IR team, Madsen Goh. 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 a 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. 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 ...