Solid Försäkring (SFAB) Q1 2025 earnings summary

Executive summary

• Stable insurance business performance with underlying sales growth, mainly in Personal Safety and Assistance, despite headline premium declines and a weak consumer market.

• Gross written premiums declined 13% year-over-year, but adjusted GWP increased 5%.

• Profit before tax dropped to 40.5 MSEK (down 30%) due to lower asset management results.

• Acquisition of Garantipartner strengthened car warranty position in Sweden; new B2C accident insurance launched and partnerships expanded in the Nordics.

• Board proposes a dividend of 5.00 SEK per share, up from 4.50 SEK.

Financial highlights

• GWP: 262.5 MSEK, down 13% year-over-year; adjusted GWP up 5%.

• NEP: 273.7 MSEK, down 1% year-over-year.

• Technical result: 27.5 MSEK, down 8% year-over-year; asset management result fell 53% to 13.1 MSEK.

• Profit before tax: 40.5 MSEK, down from 57.9 MSEK year-over-year.

• Equity at quarter-end was KSEK 913,292; cash and cash equivalents at KSEK 235,448.

Outlook and guidance

• Board proposes AGM authorization for continued share buybacks until AGM 2026.

• Company expects improved earnings in Assistance and Personal Safety as acquisitions mature.

• No material risk to stability or capital situation anticipated from current market conditions.

• Launch in Finnish market for car warranty insurance scheduled for Q2 2025.

• Proposed dividend of 5.00 SEK per share.