Profit before tax increased 9 per cent
January-March 2024*
- Gross written premiums declined 6 per cent to KSEK 262,474 (279,960)
- Premiums earned, net of reinsurance, fell 1 per cent to KSEK 277,804 (280,152)
- Technical result declined 3 per cent to KSEK 38,757 (39,866)
- The combined ratio was 89.3 per cent (88.2)
- Result of asset management rose to KSEK 27,997 (20,370). Total return, from the beginning of the year, amounted to 2.0 per cent (1.5) and on a rolling 12 month basis to 6.8 per cent (1.9)
- Profit before tax increased 9 per cent to KSEK 57,888 (53,212)
- Basic and diluted earnings per share amounted to SEK 2.43 per share (2.14)
Significant events during and after the period
Solid Försäkring signed an agreement with Svensk Bilhandelsförsäkring to acquire the operations as an asset acquisition. The operations were transferred on 1 April 2024.
*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 webcast teleconference on 25 April 2024 at 11:00 a.m. CEST.
If you wish to participate in the webcast, use the link below. Written questions may be asked during the webcast.
https://ir.financialhearings.com/solid-forsakring-q1-report-2024
To participate in the teleconference, register using the following link https://conference.financialhearings.com/teleconference/?id=50048689. Verbal questions may be asked during the teleconference.
Presentation material will be available on Solid's website: https://corporate.solidab.se/en/investors/reports-and-presentations/
Interim reports
The complete interim report for January to March 2024 will be available on https://corporate.solidab.se/en/investors/reports-and-presentations/
Contacts
Marcus Tillberg, CEO, marcus.tillberg@solidab.se; +46 (0)70-378 20 65
Sofia Andersson CFO, sofia.andersson@solidab.se, +46 (0)70-042 11 77
Johan Hähnel, Head of IR, johan.hahnel@solidab.se, +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 2024-04-25 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 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.
