Linea Directa Aseguradora, S.A. (LNDAF) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning to all of you, and thank you for joining the call today. Welcome to Linear Director's Third Quarter Results Conference Call. My name is Beatriz Izar, and I'm Head of Investor Relations. Presenting today is Carlos Rodríguez Ugarte, our CFO. And as usual, after the presentation, we'll open up the call to Q&A. And with these words, over to you, Carlos. Thanks a lot, Beatriz, and good morning to all of you. I will start, as always, on the first slide by commenting on the financial highlights for the quarter. We are reporting premiums of 844 million euros, which is an exceptional growth of 11.4%. By line of business, motor grew by 11.8%, home 7.3%, and health 13.9%. The portfolio of customers recorded an outstanding growth of 8.1%, reaching 3.65 million clients as of September 2025. Despite a few high severity claims experienced in the quarter, combined ratio was a solid 93.4%. Our highly efficient capital model translated into return of equity of 22.3% and solvency stood at 189%, which is supportive, of course, of future capital distributions. Moving to page number six, here the message I would like to convey is consistent with what we said in previous quarters. further acceleration in the top line and sound retention levels by increasing the loyalty of our customers and attracting new ones to our brand. We accelerated commercial digital initiatives, aiming at improving top line development and efficiency in the coming years. It is always important to remember that growth can easily be achieved in our industry, but discipline, growth, is a different story, and we only seek the latter. We posted a worse underwriting result in the third quarter from a few high-severity claims, and still, combined ratio was a sound 93.4% for the first nine months of the year. E...