July 21, 2023 07:30 Regulatory

Interim report January–June 2023

Sharp improvement in earnings – premiums earned in line with last year

April–June 2023*

  • Gross written premiums declined 7 per cent to KSEK 271,647 (291,855)
  • Premiums earned, net of reinsurance, fell 1 per cent to KSEK 269,863 (273,901)
  • Technical result increased 5 per cent to KSEK 41,031 (38,965)
  • The combined ratio was 87.7 per cent (86.9)
  • Result of asset management rose to KSEK 16,728 (-18,620)
  • Profit after tax increased 180 per cent to KSEK 39,208 (14,006)
  • Basic and diluted earnings per share increased to SEK 2.04 per share (0.70)

January–June 2023*

  • Gross written premiums declined 2 per cent to KSEK 551,607 (561,936)
  • Premiums earned, net of reinsurance, increased 1 per cent to KSEK 550,015 (542,495)
  • Technical result increased 12 per cent to KSEK 80,897 (72,397)
  • The combined ratio was 88.0 per cent (87.7)
  • Result of asset management rose to KSEK 37,098 (-32,787), and total return, from the start of the year, was 2.7 per cent (-2.4)
  • Profit after tax increased 199 per cent to KSEK 80,716 (27,019)
  • Basic and diluted earnings per share increased to SEK 4.18 per share (1.35)

* 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.

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 interim report for January to June 2023 will be available on https://corporate.solidab.se/en/investors/reports-and-presentations/

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 2023-07-21 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 strong customer base of 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. Solid Försäkringsaktiebolag is listed on Nasdaq Stockholm.

Attachments

Solid Försäkringsaktiebolag Interim Report Q2 2023

Documents