Solid Försäkringsaktiebolag (publ)

Tack för det och varmt välkomna till vår presentation av det tredje kvartalet 2024. Marcus Tilber heter jag, jag är vd för solidförsäkring och med mig idag har jag vår CFO Sofia Andersson och tillsammans kommer vi att gå igenom utvecklingen för det tredje kvartalet och As usual, I'm going to start with some highlights from the third quarter, which we can see is a strong quarter, where the total result increases by 21%. Our sales during the period increased by 6% compared to the same period last year, which is also the level we see in the growth in our premium revenues. Intäkterna inom våra segmenttrycket och assistans ökar med 6 respektive 23 procent, medan vi ser en minskning inom produktsegmentet med 10 procent. Jag kommer återkomma till utvecklingen inom våra segment lite senare under presentationen. Vårt försäkringstekniska resultat minskar i perioden med 10% och landar på 39 miljoner i perioden jämfört med 43,5% samma period föregående år. Även här återkommer vi med mer detaljer under presentation. Den positiva trend vi har sett i finansrörelsen under året fortsätter i det tredje kvartalet där vi ser en stark utveckling som bidrar till att det totala resultatet utvecklas starkt och ökar med hela 21%. Det totala resultatet före skatt uppgår till 62,6 miljoner i jämförelse med 51,8 under samma period föregående år. Vidare har vi under kvartalet förstärkt vår partnerbas då vi ingått avtal med Phonehero, Green Benefits och Equilo och jag återkommer till de här affärerna lite senare under presentationen. Vårt återköpsprogram har fortsatt under perioden have by the start of the quarter rendered in that we have repurchased over 200,000 shares, which corresponds to 22% of the mandate that was given to the company in April. To sum up the quarter in some financial terms, we see an increase in our premium income of 6% compared to the same period last year, which is also the level we see in our premium revenues. Vi levererar ett försäkringstekniskt resultat som i perioden backar med 10% och en totalkostnadsprocent, vår Combined Ratio, som i perioden uppgår till 89,3% vilket är under vårt finansiella mål på 90% och bättre än den nivån under det andra kvartalet då totalkostnadsprocenten uppgick till 90,6. Resultatet i Finansrörelsen developed positively during the period and rose to 30.3 million, which contributed to our total revenue before the tax increase of 21% in the period. And revenue per share in the period rose to 2.67 EUR compared to 2.13 EUR last year. Om vi då tittar lite mer på hur vår försäljning utvecklar sig och hur den fördelar sig mellan olika segment så kan vi börja med att konstatera då att premieinkomsterna de ökar med 6% i jämförelse med samma period för ögon år. I kvartalet är uppbyggt om till 296 miljoner och ackumulerat ser vi då en ökning på 1% per det tredje kvartalet och då uppgår premieinkomsterna till knappt 843 miljoner. Tittar vi hur försäljningen utvecklar sig mellan våra segment så kan vi konstatera att vi driver en tillväxt inom trygghet och assistans. Det gör att vikten för dessa segment ökar medan vi ser en minskning i vikten för segmentprodukt som då i kvartalet står för 27% av våra premieinkomster. If we look geographically at the distribution of sales, the Nordic market stands at 94% of our sales volumes during this period. This is slightly greater than what we have seen previously. Let us then move on and look at the development within our segment. I was going to start with assistance where we see a fairly strong growth in the period. Premium income increases by 26% and this increase is driven by our insurance concept linked to car guarantees driven by both the Swedish and Norwegian markets. Premieintäkterna för kvartalet ökar med 23%, vilket beror på den försäljningsutveckling vi sett inom försäkringskoncepten riktade mot bilgarantier. Akkumulerat så har vi en ökning i intäkterna på 10%, vilket också är drivet av bilgarantier. Vi har under perioden justerat intjäningsmönster avseende våra försäkringskoncept mot bilgarantier och det får en positiv effekt på våra intäkter och Sofia kommer återkomma till detta lite senare under presentationen. Gross profit minskar i perioden med 32% och det förklaras av en relativt hög skadekostnadrivet av våra försäkringskoncept mot bilgarantier. Vi ser en liten försämrad marginal i kvartalet och det drivet av högre anskaffningskostnader och skadekostnader drivet av den förändrade partner-produktmix som vi nu ser. Sammantaget för detta segment så ser vi positivt på det och vi förväntar oss en förbättrad lönsamhetsutveckling framöver. If we then move on to segment products, sales will decrease by 15% during the period. This is due to a lower sales of insurance related to the home electronics industry in the Swedish-Norwegian-Danish market, where our final collaboration with Power negatively affected. Premium revenues in the quarter decrease by 10% and this leads to a slightly lower sales of insurance related primarily to home electronics. Gross profit in the period is improved and increases by 6% and it is driven by an improved margin due to lower procurement costs and lower damage costs. During the period, we have signed agreements with Phonehero and Green Benefits. And when it comes to Phonehero, it is a collaboration within the circular economy where we will try to secure home electronics, primarily mobile phones. and Green Benefits, the established collaboration within Forensic Cycles. If we then move on to the security segment, we can see that we are growing. The premium income is increasing by 7% in the period and it is driven by a positive sales development in the Swedish and Finnish markets. And here it is now starting to appear to be new collaboration partners, for example with Norion Bank, which is now starting to take off. We see a weakly reduced sales development in the Norwegian and Danish markets. Premium revenues increase by 6% in the quarter and this is primarily explained by better sales in the Swedish and Finnish markets. and accumulates to increase the revenues by 10%, also here driven by the Swedish and Finnish markets. Gross profit increases by 12% in the period, and this is explained by the growth in premium revenues, as well as an advantageous partner-product mix. Even the gross margin is probably better than last year. Här har vi också signerat ett nytt partneravtal i form av Equilo som kommer att börja förmedla våra betalskyddsförsäkringar. Med det sagt så tänkte jag lämna över ordet till vår CFO Sofia Andersson som kommer att redogöra för siffrorna lite mer i detalj.

Tack för det. Om vi då börjar med utvecklingen i premieintäkter så ökade premieintäkterna med 6 % jämfört med föregående år. and up to 292.3 million SEK in the quarter. The increase is related to safety and assistance, while the income decreased by 10% in segment products. In segment assistance, the premium income was positively affected by the adjustment of insurance fees made in the quarter due to insurance policies against car guarantees with longer run-times in Sweden. The insurance fee has been adjusted after the damage occurs, according to the longer run-times. and the positive effects of the premium income increased to 20 million SEK in the quarter. Compared to the second quarter of 2024, the premium income increased by 2% and, compared to the effects of adjusted income patterns, an increase of almost 0.5% in the quarter over the quarter. Before segment assistance, the premium income for insurance solutions against the travel industry decreased, while the premium income for insurance solutions against car guarantees also increased excluding the premium income adjustments. The premium revenues decreased in segment products quarter by quarter, but increased with security, mainly driven by insurance companies in Sweden and Finland. The accumulated premium revenues increased by 4% compared to previous years and were 0.5% lower than previous years, excluding the adjustment of the income pattern. The premium revenues for insurance solutions for travel before segment assistance decreased compared to previous years, like the premium revenues before segment products, as well as In Norway, the tax protection insurance is longer within the security segment, while the premium income for insurance solutions against car guarantees and tax protection insurance in Sweden and Finland increased compared to previous years. If we then look at the development of our insurance technical results in the quarter, it decreased by 10% compared to previous years and went up to 39 million. Quartal by quartal, the insurance technical results increased by 10% or 3.6 million. The decrease in the result in the quarter mainly depends on lower gross results from the assistance segment. This is primarily due to higher damage costs in that segment. Accumulated, the insurance technical result decreased by 9% and went up to 113.2 million. Segment security contributed positively through improved gross profit and was primarily driven by relatively lower purchase costs compared to previous years, while both segment product and assistance showed lower gross profit compared to previous years. Before segment assistance, the gross profit result was negatively affected by both relatively higher damage costs and relatively higher purchase costs. This was due to changes in the partner and product mix in that segment. In the segment product, the lower gross result is mainly explained by lower sales volumes and therefore lower premium revenues. The total cost percentage in the third quarter rose to 89.3% compared to 87.2% in the previous year. The increase was mainly explained by higher damage and procurement costs. The administration costs increased by 3% compared to previous years and it was mainly driven by higher staff costs, where the acquisition of Svensk Bilhandlens Försäkring affects. The interest rate percentage was up to 63% compared to 62.3% previous years and the damage percentage to 26.4% compared to 25% previous years. However, the total cost percentage has improved compared to the second quarter, where it rose to 90.6%. Accumulated, the total cost percentage now rises to 89.7% compared to 87.7% in previous years. The increase compared to previous years is due to higher damage costs and the damage percentage in all segments increased by 25% compared to 23.4%. The interest rate went up to 64.7% compared to 64.3% in the previous year. And the administrative costs in relation to premium income were developed as expected, but increased compared to the previous year. And the quota then goes up to 11% compared to 10.6% in the previous year. If we look at the capital administration, we see that the total placement portfolio has grown by over 1.4 billion SEK at the beginning of September. The share share has been largely unchanged towards the beginning of June and has grown by 116 million SEK or 8% of the total portfolio. The interest rate portfolio has decreased by about 18 million SEK compared to the beginning of June and stands for about 70% of the portfolio. In the third quarter, we have made a lot of deductions and netto to 32 million, and that is mainly linked to the mortgage portfolio. As we have accumulated, our netto investments go up to just under 19 million per year. In addition, we have bought back our own shares for just under 30 million so far this year. The result in the financial movement doubled compared to previous years and went up to 30.3 million against 15.3 million previous years. Where 16.5 million consists of interest income from the rental portfolio and loan against 13.3 million previous years. The unrealized profits went up to 8.2 million in the period against 2 million previous years. And they realized the profits from accumulated content to 5.5 million versus 1.4 million last year. The total return from the beginning of the year fell to 6% versus 3.8% last year. And then in the 12 months in a row, it went up to 8.4%. Den positiva utvecklingen i finansrörelsen bidrog till att resultatföreskatt ökade med 21 procent mot föregående år i kvartalet och med 12 procent sett i helåret. På den sista september uppgick resultatföreskattet 173,3 miljoner mot 155,4 miljoner föregående år. Resultat per aktie ökade till 7,34 kronor mot 6,31 kronor föregående år. If we look at the development in our RCR, we see that the company shows a stable and strong financial position. The RCR rate rose to 192% at the beginning of September. This is an increase of 14% towards the beginning of June. Solvency capital increased in the quarter compared to the beginning of June, rising to 955 million. And this is due to positive results in the quarter at just under 49 million, reduced with the cost of resale of own shares, which increased to just under 7 million. Solvency capital requirement decreased compared to the start of June, and this is mainly due to reduced capital requirements linked to our insurance risk. This decrease is explained by an expectation in the change in product sales and running times. Vårt kommunicerade finansiella mål är att SCR-korten ska uppgå till minst 150 %. Det lämnar jag över till Marcus igen.

Tack för det. Om vi då tillåter oss att blicka lite framåt, så är det fortsatt så att vi inom vissa områden i vår affär befinner oss i ett utmanande marknadsklimat, där konsumenten fortfarande är pressad. Vi har nu sett en period att Riksbanken börjat sänka räntan och lik marknaden i stort så förväntar vi oss lägre räntenivåer under året vilket successivt kommer att minska trycket på konsumenterna. Därmed över tid då gynnar försäljningen inom de områden där vi har sett en försämrad försäljning. Vi ser en fortsatt geopolitisk oro runt om i världen med krig och vi har även ett stundande val i USA som vi hoppas kan genomföras utan större turbulens. Med det sagt så tycker jag att vi har lyckats navigera väl genom en period med utmanande klimat. Vi kan också konstatera att under en period med högre räntenivå sett en positiv utveckling i vår finansrörelse, vilket självklart bidrar till att vi lyckas leverera starkt resultat. För att summera kvartalet så kan vi konstatera att det tredje kvartalet 2024 är ett starkt kvartal, där vårt totala resultat ökar med 21 %. Rådande marknadsklimat med en högre räntenivå medför att vår finansrörelse presterar mycket bra och vi ser även att vi i kvartalet lyckas driva en försäljningstillväxt på 6%. Vår partnerbas växer i perioden och vi har en mycket stark kapitalsituation i bolaget där SR-kvoten uppgår till, den ökar och uppgår till 192% vid utgången av kvartalet. Vårt återköpsprogram av egna aktier har fortsatt under perioden och har nu återuttagits under dagen också. Med det sagt så tackar vi för intresset och öppnar gärna upp för eventuella frågor.