February 7, 2024 07:30 Regulatory

Year-end Report for 2023 financial year

Record-breaking earnings for full-year 2023 – Robust performance in non-technical account in fourth quarter – premium income on a par with the preceding year

October–December 2023*

  • Gross written premiums increased to KSEK 286,232 (285,803)
  • Premiums earned, net of reinsurance, fell 3 per cent to KSEK 268,823 (277,221)
  • Technical result declined 16 per cent and amounted to KSEK 37,951 (44,923)
  • The combined ratio was 88.8 per cent (86.1)
  • Result of asset management rose 61% and amounted KSEK 33,180 KSEK (20,652)
  • Profit before tax increased 6 per cent to KSEK 64,402 (60,627)
  • Basic and diluted earnings per share declined to SEK 2.36 per share (2.49)

January–December 2023*

  • Gross written premiums declined 3 per cent to KSEK 1,118,179 (1,151,921).
  • Premiums earned, net of reinsurance, fell 1 per cent to KSEK 1,094,098 (1,099,709)
  • Technical result amounted to KSEK 162,299 (163,100)
  • The combined ratio was 88.0 per cent (86.7)
  • Result of asset management rose to KSEK 85,583 (-11,514), and total return, from the start of the year, was 6.2 per cent (-0.6)
  • Profit before tax increased 58 per cent to KSEK 219,776 (139,200)
  • Basic and diluted earnings per share increased to SEK 8.67 per share (5.54)
  • The Board proposes that the 2024 Annual General Meeting resolve on a dividend of SEK 4.50 per share (2.85).

* 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 2024 at 11:00 a.m. CET. To participate in the conference, click on the following link https://ir.financialhearings.com/solid-forsakring-q4-report-2023, 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=5004956. 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/

Interim reports
The complete January–December 2023 Year-end Report will be available on https://corporate.solidab.se/en/investors/reports-and-presentations/