Insr Insurance Group (INSR) Q4 2023 earnings summary

Executive summary

• Generated operating income of NOK 51.4 million and net profit of NOK 42.7 million for 2023, a significant turnaround from a net loss of NOK 40.8 million in 2022.

• Transitioned to a pure investment company, focusing on equities and bonds after returning its insurance license.

• All major outstanding receivables from previous insurance activities were collected in 2023, reducing net receivables to near zero.

Financial highlights

• Operating income: NOK 51.4 million in 2023, unchanged from 2022.

• Net profit: NOK 42.7 million in 2023, compared to a net loss of NOK 40.8 million in 2022.

• Total assets increased to NOK 227.0 million at year-end 2023 from NOK 79.2 million in 2022.

• Equity at year-end: NOK 49.9 million; total liabilities: NOK 177.1 million.

Outlook and guidance

• Board confirms the going concern assumption and sees no significant post-year-end events affecting the company's position.

• Investment strategy remains focused on high-quality equities and high-yield bonds, with ongoing risk assessment.