Solid Försäkring (SFAB) Q4 2025 earnings summary

Executive summary

• Q4 2025 earnings increased 19% year-over-year to SEK 45.1 million, with strong sales in Personal Safety and Assistance segments and adjusted profit before tax up 35% to SEK 51.1 million.

• Full-year profit before tax was SEK 187.9 million, down 11% year-over-year, with adjusted profit before tax at SEK 193.9 million, down 8%.

• Expanded partnership with Norion Bank to provide insurance solutions to card customers, expected to launch in Q3 2026.

• The Board proposes a total dividend of 6.75 SEK per share (5.25 SEK ordinary, 1.50 SEK extra).

• Buyback program continued, with 278,424 shares acquired by year end; will resume after Q4 report release.

Financial highlights

• Q4 gross written premiums were SEK 249.2 million, down 4% year-over-year; underlying growth was 5%.

• Q4 premiums earned, net of reinsurance, were SEK 260.9 million, down 4%; underlying growth was 2%.

• Q4 technical result was SEK 29.5 million (down 17%), adjusted technical result SEK 35.5 million (flat); full-year technical result SEK 133.6 million (down 10%), adjusted SEK 139.6 million (down 6%).

• Q4 profit before tax increased by 19% to SEK 45.1 million; adjusted profit before tax up 35% year-over-year.

• Q4 basic EPS was SEK 2.15 (up 31%); full-year basic EPS was SEK 8.31 (down 8%).

Outlook and guidance

• The company targets annual growth in premiums earned of 4–7%, a combined ratio below 90%, RoNAV above 14%, and SCR ratio above 150%.

• Cooperation with Norion Bank to be launched in Q3 2026, expected to drive further growth.

• The Board assesses the proposed dividend level as balanced, supporting future growth and shareholder value.