October 25, 2022 07:30 Regulatory

Interim report January–September 2022 (Q3)

Highest earnings for insurance operations in the history of Solid Försäkring (technical result)

July–September 2022*

  • Gross written premiums increased 12 per cent to KSEK 304,182 (272,151)
  • Premiums earned, net of reinsurance, increased 14 per cent to KSEK 279,993 (246,065)
  • Technical result increased 62 per cent to KSEK 45,780 (28,212) Technical result excluding non-recurring costs of KSEK 1,862 related to the separate listing process in 2021 increased 52 per cent
  • The combined ratio improved to 85.4 per cent (89.1 percent, excl. non-recurring costs 88.4 per cent)
  • The result of asset management amounted to KSEK 621 (2,965)
  • Profit after tax increased 36 per cent to KSEK 34,177 (25,049)
  • Basic and diluted earnings per share increased to SEK 1.71 per share (1.25)

January–September 2022*

  • Gross written premiums increased 18 per cent to KSEK 866,118 (732,409)
  • Premiums earned, net of reinsurance, increased 14 per cent to KSEK 822,488 (722,805)
  • Technical result increased 37 per cent to KSEK 118,177 (86,505) Technical result excluding non-recurring costs increased 34 per cent
  • The combined ratio improved to 86.9 per cent (88.7 percent, excl. non-recurring costs 88.4 per cent)
  • Result of asset management amounted to KSEK -32,166 (35,166) and total return was -2.2 per cent (3.1)
  • Profit after tax declined to KSEK 61,196 (94,651)
  • Basic and diluted earnings per share declined to SEK 3.06 per share (4.73)

* 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.

Teleconference in connection with publication of the interim report

In connection with the publication of the interim report, CEO Marcus Tillberg and CFO Sofia Andersson will hold a teleconference on 25 October 2022 at 11:00 a.m. CEST. To participate in the conference, call +46856642693 or click on the following link https://tv.streamfabriken.com/solid-q3-2022.

Presentation material will be available on Solid’s website: https://corporate.solidab.se/en/investors/reports-and-presentations/

Interim reports

The complete January–September 2022 interim report 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. The information was submitted for publication, through the agency of the contact persons set out above, at 2022-10-25 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.

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