July 21, 2022 07:30 Regulatory

Interim report January–June 2022 (Q2)

Premiums earned increased 13 per cent and technical result rose 37 per cent in Q2

April-June 2022*

  • Gross written premiums increased 19 per cent to KSEK 291,855 (244,395)
  • Premiums earned, net of reinsurance, increased 13 per cent to KSEK 273,901 (241,893)
  • Technical result increased 37 per cent to KSEK 38,965 (28,429), which is the highest technical result for a quarter in Solid’s history
  • The combined ratio improved to 86.9 per cent (88.9)
  • The result of asset management declined to KSEK -18,620 (8,244), corresponding to a portfolio return** of -1 per cent
  • Profit after tax declined to KSEK 14,006 (29,247)
  • Basic and diluted earnings per share declined to SEK 0.70 per share (1.46)

January–June 2022*

  • Gross written premiums increased 22 per cent to KSEK 561,936 (460,258)
  • Premiums earned, net of reinsurance, increased 14 per cent to KSEK 542,495 (476,740)
  • Technical result increased 24 per cent to KSEK 72,397 (58,293)
  • The combined ratio improved to 87.7 per cent (88.4)
  • Result of asset management declined to KSEK -32,787 (32,201) and total return was -2.4 per cent (2.8).
  • Profit after tax declined to KSEK 27,019 (69,602)
  • Basic and diluted earnings per share declined to SEK 1.35 per share (3.48)

Meeting for investors, analysts and the media in connection with publication of the interim report

The company will not arrange a webcast teleconference in connection with the publication of the six-month report, but Marcus Tillberg, CEO and Sofia Andersson, CFO, will be available on the reporting date from 8:00 a.m. for virtual meetings with investors, analysts and the media.

Interim reports

The complete January–June 2022 interim report will be available on https://corporate.solidab.se/en/investors/reports-and-presentations/

* Some performance measures stated in this section have not been prepared in accordance with IFRS or the Solvency II regulations, which means that they are “alternative performance measures”. The calculations and reconciliation against information in the financial statements of these performance measures are presented on the website under “Financial statements”. Definitions of performance measures are presented on the company’s website. Changes and comparative figures on this page and elsewhere in this interim report refer to the same period last year. All amounts are presented in KSEK unless otherwise stated.
** The portfolio return is calculated as the result of asset management for the period in relation to the average total investment assets

Contacts

Marcus Tillberg, CEO, [email protected]; +46 (0)70-378 20 65
Sofia Andersson CFO, [email protected], +46 (0)70-042 11 77
Johan Hähnel, Head of IR, [email protected], +46 (0)70-605 63 34

This information is information that Solid Försäkring is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out above, at 2022-07-21 07:30 CEST.

About Solid Försäkring

Solid Försäkring is a non-life insurance company founded in 1993. Solid Försäkring focuses on niche insurance, with the Nordic region as its core market. The non-life insurance operations are divided into three segments: Product, Personal Safety and Assistance. Solid Försäkring has a customer base of approximately 2.3 million private customers in the Nordic region which are primarily sourced through partnerships with leading retail chains within several different industries and banks, credit market companies and other financial institutions, travel agencies, car dealerships and car repair shops.

Attachments

Solid Försäkringsaktiebolag Interim Report Jan Jun 2022

Documents