Highest quarterly results in the history of Solid Försäkring
- Gross written premiums increased 2 per cent to KSEK 285,803 (281,012)
- Premiums earned, net of reinsurance, increased 7 per cent to KSEK 277,221 (258,486)
- Technical result increased 62 per cent to KSEK 44,923 (27,731). Technical result excluding non-recurring costs of KSEK 8,500 related to the separate listing process in 2021 increased 24 per cent.
- The combined ratio improved to 86.1 per cent (91.0, excl. non-recurring costs 87.7)
- Result of asset management rose to KSEK 20,652 (6,722)
- Profit after tax increased 95 per cent to KSEK 49,460 (25,329)
- Basic and diluted earnings per share increased to SEK 2.49 per share (1.27)
- Gross written premiums increased 14 per cent to KSEK 1,151,921 (1,013,421)
- Premiums earned, net of reinsurance, increased 12 per cent to KSEK 1,099,709 (981,291)
- Technical result increased 43 per cent to KSEK 163,100 (114,236). Excluding non-recurring costs of KSEK 10,400 related to the separate listing process in 2021, technical result increased 31 per cent
- The combined ratio improved to 86.7 per cent (89.3, excl. non-recurring costs 88.2)
- Result of asset management amounted to KSEK -11,514 (41,888) and total return was -0.6 per cent (3.6)
- Profit after tax amounted to KSEK 110,656 (119,980)
- Basic and diluted earnings per share declined to SEK 5.54 per share (6.0)
- The Board proposes that the 2023 Annual General Meeting resolve on a dividend of SEK 2.85 per share.
Significant events during and after the end of the period
- On 26 October, Solid Försäkring initiated a repurchase programme of own shares to create additional value for shareholders. 54.3 per cent of the decided mandate remains.
- On 8 November, Solid Försäkring announced it had signed an agreement with Collector Bank to provide payment protection insurance in Sweden and Norway.
- On 2 December, Solid Försäkring announced it had signed an agreement to acquire Car Protect AS as a purchase of assets and liabilities.
* 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 year-end report
In connection with the publication of the year-end report, CEO Marcus Tillberg and CFO Sofia Andersson will hold a teleconference on 7 February 2023 at 11:00 a.m. CET. To participate in the conference, click on the following link https://ir.financialhearings.com/solid-q4-2022, which you can also use to write questions. If you want to ask a question verbally at the teleconference, register using the following link https://conference.financialhearings.com/teleconference/?id=5004925. After registering you will receive a telephone number and ID to log into the conference. Presentation material will be available on Solid’s website: https://corporate.solidab.se/en/investors/reports-and-presentations/
The complete January–December 2022 Year-end Report will be available on https://corporate.solidab.se/en/investors/reports-and-presentations/