Solid Försäkringsaktiebolag (publ)

Stort tack för det och varmt välkomna till vår presentation av det fjärde kvartalet 2024. Marcus Tillberg heter jag, vd för Solidförsäkring och med mig idag har jag också vår CFO Sofia Andersson och tillsammans så kommer vi att ta igenom utvecklingen för det fjärde kvartalet. And I'm going to start with some highlights from the quarter, which was a stable quarter, seen as the result of our insurance movement. If we start with sales development, it will decrease by 9%. And for those of you who have followed us for a while, you will probably remember that during the same period last year, we did a deal with Amtrust, another insurance company, which means that we handle the runoff that arose after our acquisition of CarProtect on the Norwegian market. In this case, there was a positive one-time effect corresponding to 14.5 million. If we adjust for that and the final collaboration with Power, we drive a underlying growth in the period of 10%. If we move on to our premium revenues, these increase by 2% in the period where the revenues in our segment security and assistance increase by 5% respectively 10% while we see a decrease in the product segment by 12%. I will return shortly to the development in more detail in our segment. Vårt försäkringstekniska resultat minskar i perioden med 6% och landar på 35,6 miljoner i perioden jämfört med 37,9 miljoner samma period föregående år. Justerar vi då för den delen som allokeras från finansrörelsen landar det försäkringstekniska resultatet i linje med föregående år. The result in the financial movement rose to SEK 7 million in the period where we compared ourselves to a very strong Q4 under 2023. In summary, this means that our total result in the period rose to SEK 37.9 million compared to SEK 64.4 million during the same period last year, where the difference in the quarter led to the development of our financial movement. Vidare under kvartalet har vi förstärkt vår partnerbas, tre nya partners i form av Skandinavien Foto, Synologen och Moank Bank och jag återkommer till de här lite senare under presentationen. Vårt återköpsprogram har fortsatt under perioden och har på utgången av det fjärde kvartalet renderat i att vi återköpt drygt 304 000 aktier, vilket motsvarar 33 % av det mandat som gavs på bolagsstämman i april 24. Sett till helåret så ökade resultat per aktie och uppgick till 8,99 kr, en ökning med 11 %. And against the background of the results of the year, the board has the intention to present the annual balance of SEK 5 per share, which is an increase of 50 or 11% compared to last year. In addition, stable development in the insurance policy and also looking forward to strengthening our partner base during the period. And to sum up the quarter in the financial figures that Sofia will get to later, the premium income decreased by 9%, while we see an underlying growth in each premium income of 10% adjusted for Amplestor Power, as I mentioned. Our premium revenues increase by 2% in the period and adjusted for that part of the financial movement that is allocated to our technical results lands for the insurance company's results in level with the same period last year. Our total cost percentage combined ratio rises to 89.2% in the period, which is then under our financial goal of 90%. Vi såg ett positivt resultat från Finansrörelsen under perioden som uppgick till 7 miljoner vilket dock är lägre än Q4 2023 som var ett rekordkvartal. Vårt totala resultat för skatt uppgick till 37,9 och resultat på aktiesätt i helåret ökade och uppgick till 8,99 kr för helåret. If we then move on and look a little more at our sales and how it has developed, we can start by stating that the premium income decreased by 9% in the period. Adjusted for once, the effect of the business with Amtrust decreased the premium income by 4% in the period. And if we then also adjust for the final collaboration with Power, we have a underlying growth of 10% in the period. Sepp till helåret landar premienkomsten i stort sett på samma nivå som under 2023. And if we also look at how sales develop between our segments, we drive growth within the security and assistance segment, which then increases the weight of this segment, while we see a decrease in the weight of segment product, which in the quarter stands for 21% of our total sales, which also depends on the final collaboration with Power. Geographically, if we look at the distribution of sales, the Nordic market stands for 91% of the sales volume in the period, where the Swedish market stands for a slightly larger proportion compared to the corresponding period in the previous year. And if we then look a little more in detail at the development within our segment, I was going to start with assistance, where the effect of Amtrust is seen in our premium income, which in the period in total decreases by 1%. But if we adjust for that one-time effect, we see a fine sales growth of 16% in the period, where the growth is driven by our insurance concept linked to car guarantees, driven by both the Swedish and Norwegian markets, as well as the insurance concept towards the travel industry. Premium revenues for the quarter and the whole year increase by 10%, which is due to the development we have seen within the insurance concept aimed at car guarantees. Gross profit decreases by 12% during the period, which is explained by relatively high purchasing costs during the period. In the quarter, we see a slightly reduced margin, which is driven by high purchasing costs due to a changed partner-product mix. In total, We see positive results in this segment and expect improved profitability development in the future. We move on to segment product, which reduces sales in the period by 40%, which is largely due to a lower sales of insurances linked to the home electronics industry in the Swedish, Norwegian and Danish markets. There was a concluding agreement with Power, negatively affected. Exclusive power reduces sales by only 3% in the period. Premium revenues in the quarter decrease by 12%, which leads to lower sales of insurance connected to home electronics. Gross profit improves in the period, increases by 13% and is driven by an improved margin, depending on lower purchase costs and slightly lower damage costs. Vi har under perioden tecknat två nya partneravtal inom detta segment i form av Scandinavian Foto som kommer att erbjuda deras kunder som köper fotoutrustning i våra försäkringar och Synologen som är en optikerkedja med cirka 100 optiker. Om vi då förflyttar oss till segment trygghet så kan vi konstatera att premieinkomsterna ökar med 12 % i perioden and is driven by a positive development in the Swedish, Finnish and Norwegian markets, where our new partnership with, for example, Norion Bank contributes to growth. Premium revenues increase by 5% per quarter, which is primarily explained by a better sales on the Swedish and Finnish markets, and accumulated increases in revenues by 19%, also here driven by the Swedish and Finnish markets. Gross profit increases by 3% in the period, and this is explained by the growth in premium revenues, while the gross margin is reduced a bit due to relatively high damage costs and procurement costs. Here we have also signed a new partner agreement in the form of Moanc Bank, which will formally be our insurance with a planned launch in the summer of 2025. And with that said, I would like to hand over the floor to Sofia.

Thank you very much. If we start with a short summary of the development in premium revenues. Premium revenues increased by 2% in the quarter compared to the previous year and went up to 273.1 million. This increase is related to the segment assistance and security, while the revenue decreased in the segment product. Seget i helåret ökade premiintäkterna med 3 % jämfört med föregående år. Det här var drivet av segment trygghet. Det försäkringstekniska resultatet i kvartalet minskade med 6 % jämfört med föregående år och uppgick till 35,6 miljoner. Exkluderat en del av kapitalförvaltningen som allokeras till försäkringsrörelsen var det försäkringstekniska resultatet i stort sett i nivå med föregående år. Segment produkt And security contributed positively to the result in the quarter, while segment assistance decreased compared to the previous year. For the whole year, the insurance tax rate decreased by 8% and went up to 148.8 million. And here it was segment security that contributed positively through a higher gross profit result, through both segment product and assistance, showed a lower gross profit result compared to the previous year. The total cost percentage for the fourth quarter rose to 89.2% compared to 88.8% for the previous year. This increase was explained by higher operating cost percentage driven by relatively higher procurement costs within assistance as well as higher administrative costs, which was higher mainly due to higher personnel costs. The operating cost percentage went up to 63.3% against 62.9% in the previous year and the damage percentage to 25.9%, which was in line with the previous year. The damage percentage improved compared to the third quarter and it went up to 26.4%. For the whole year, the total cost percentage went up to 89.6% compared to 88.8% in the previous year. The increase compared to previous years is mainly due to higher damage costs. The damage percentage increased in all segments compared to previous years. The total increased to 25.2% compared to 24.1% in previous years. The operating cost percentage increased to 64.4% compared to 63.9% in previous years. Primarily due to higher administration costs, where the quota in relation to premium income increased and increased to 11.1% compared to 10.7% in previous years. The increase in costs is mainly related to the project we have implemented with the DORA regulation and the new ERP system, as well as increased staff costs. If we then look at our placement portfolio, it increased to approximately 1.4 billion at the beginning of December. Aktiendelen har minskat något jämfört med utgången av september och uppgick till 104 miljoner eller 7% av den totala portföljen. Ränteportföljen minskade med 44 miljoner jämfört med utgången av september och det här är till följd av en del avyttringar som har gjorts under det fjärde kvartalet. I det fjärde kvartalet så uppgick avyttringarna netto för hela portföljen till knappt 47 miljoner och för helåret till 28 miljoner. Returns of own shares have been made for 38.6 million SEK, and the dividend from 2023 has been paid out with almost 83 million SEK. Since the third quarter of 2022, the financial movement's results have been positive, but in varying sizes. The fourth quarter of last year was a record year with a positive result of 33.2 million SEK. För det här kvartalet, 2024, uppgick resultatet i finansrörelsen till 7,1 miljoner. Ränteintäkter från ränteportföljen och indordning uppgick till 16,4 miljoner jämfört med 19,3 miljoner förra året. Realiserade vinster från avyttrade innehav uppgick till 6,5 miljoner. Both the share and obligation portfolio decreased in value in the quarter and the unrealized result was negative and increased to minus 14.2 million, where 11.6 million was added to the share portfolio and 2.6 million to the rental portfolio. Accumulated capital management results increased to 90.7 million for the entire year against 85.6 million the previous year. And the total dropout increased to 6.6%. to 6.2% last year. The average interest rate in the obligation portfolio decreased to 4.75% from 5.4% at the beginning of September. This can be compared to the beginning of December last year, where it rose to 5.7%. The lower result in the financial movement resulted in a reduction of 37.9 million SEK per quarter. For the whole year, we ended up with a result of SEK 211.2 million, which is 4% lower than last year. The result after the tax was in line with last year and increased to 164.7 million SEK. Resultat per aktie ökade med 4% till 8,99 kronor jämfört med 8,67 kronor förra året. Styrelsen ämnar som Marcus sa tidigare att föreslå årsstämmaren utdelning om 5 kronor per aktie vilket då är en ökning med 11% eller 50 öre. Bolaget uppvisar en stabil och stark finansiell ställning och SCR-kvoten uppgick till 198 vid utgången av december. Det är en ökning med 6 procentenheter jämfört med utgången av september och med 28 procentenheter jämfört med Q4 2023. Då ska det noteras att i SCR-kvoten för 2023 så är utdelningen inkluderad vilket det inte är i beräkningen då för det här kvartalet 2004. Sovelskapitalet ökar i kvartalet jämfört med utgången av september och uppgick till 987 miljoner. Det här är som en följd av ett positivt resultat medan kostnaden för återköp av egna aktier har minskat. Sovelskapitalkravet var i linje med utgången av Q3. Vårt kommunicerade finansiella mål är ju att SCR-kvoten ska ligga på minst 150 %. I'll hand it over to Marcus again.

Yes, thank you. To sum up the quarter, we can state that the fourth quarter delivered a stable development in the insurance industry. The premium income is decreasing by 9%, but the underlying business is delivering an increase of 10% of our segment security and assistance is going strong. Våra premieintäkter ökar med 2 % i perioden och vi har lyckats då förstärka vår partnerbas med tre nya partners. Vi har en mycket stark kapitalsituation i bolaget där ECR-kvoten ökar i perioden och uppgår till 198 % per den sista december 24. Vårt återköpsprogram har fortsatt under perioden, återupptas nu under dagen och sett i hela året ökat resultat per aktie och uppgick till 8,99 kr. Mot bakgrund av detta föreslår styrelsen en utdelning av 5 kr per aktie, en ökning med 11% jämfört med förra årets utdelning. Och med det sagt så tackar vi för intresset idag och öppnar upp för eventuella frågor som kan finnas.