Solid Försäkring (SFAB) Q2 2025 earnings summary

Executive summary

• Stable insurance operations in Q2 2025 despite a weak consumer market, with underlying gross written premiums up 6% year-over-year when adjusted for non-recurring effects.

• Profit before tax for Q2 2025 was KSEK 46,598, down 12% compared to the same quarter last year, mainly due to lower asset management results.

• The company is focusing on the Nordic market, transferring its Swiss branch portfolio to Mutuaide Assistance with marginal financial impact.

Financial highlights

• Q2 2025 gross written premiums: KSEK 247,675 (-13% year-over-year, +6% adjusted).

• Premiums earned, net of reinsurance: KSEK 265,203 (-7% year-over-year, +1% adjusted).

• Technical result: KSEK 31,829 (-10% year-over-year).

• Result of asset management: KSEK 20,212 (-20% year-over-year).

• Profit after tax: KSEK 35,691 (-13% year-over-year).

• Basic earnings per share: SEK 1.99 (Q2 2024: 2.23).

• Combined ratio improved to 90.2% (Q2 2024: 90.6%).

Outlook and guidance

• Management expects continued focus on the Nordic market and further integration of recent acquisitions.

• Financial targets include annual growth in premiums earned of 4–7%, combined ratio below 90%, RoNAV above 14%, and SCR ratio of at least 150%.