Quarterly Report • Feb 8, 2022
Quarterly Report
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be paid to shareholders for the 2021 financial year
Solid Försäkringsaktiebolag's (publ) shares were listed on Nasdaq Stockholm on 1 December.
Solid Försäkring is a non-life insurance company focusing on niche insurance, with the Nordic region as its core market. The operations in Norway, Finland and Switzerland are conducted by branches, and operations in other countries are conducted as cross-border operations. The non-life insurance operations are divided into three segments: Product, Personal Safety and Assistance. The company partners with leading retail chains in various industries and the banking sector, has about 2.3 million customers across the Nordic region and has its head office in Helsingborg. Net premiums earned in 2021 amounted to SEK 981 million and the technical result to SEK 114 million.
* Some performance measures stated in this section have not been prepared in accordance with IFRS or the Solvency II regulations, which means that they are "alternative performance measures". The calculations and reconciliation against information in the financial statements of these performance measures are presented on the website under "Financial statements". Definitions of performance measures are presented on the company's website. Changes and comparative figures on this page and elsewhere in this yearend report refer to the same period last year. All amounts are presented in KSEK unless otherwise stated.
Many of our markets and all segments performed positively in the final quarter of the year. Premiums earned increased 12 per cent compared with the year-earlier period to SEK 258 million. Growth was primarily driven by the strong trend in the Assistance segment, which reported growth of 47 per cent in premiums earned, but also healthy growth in the Product segment.
Excluding non-recurring costs related to the separate listing process, technical result rose 1 per cent compared with the year-earlier period. Administrative expenses in the fourth quarter last year were exceptionally low, primarily due to dissolved salary-related provisions pertaining to 2020. Our combined ratio was 87.7 per cent (excluding non-recurring costs).
For the full-year, profit before appropriations and tax increased 34 per cent (excluding non-recurring effects) to SEK 162 million.
The strong trend in premiums earned in the Assistance segment (+47 per cent) for the quarter was due to a continuing strong recovery in insurance related to the travel industry and growth in insurance solutions for car warranties. Growth in premiums earned for the Product segment (+9 per cent) was primarily the result of larger consumer electronics partners reporting high sales.
Premiums earned for the Personal Safety segment fell slightly (-5 per cent), but displayed a positive trend since premium income rose 2 per cent for the period, primarily driven by recovery in the Norwegian market.
Premium income for the full-year amounted to SEK 1,013 million, which means that Solid exceeded the billion SEK barrier and reported growth of 7 per cent compared with 2020. Growth was driven by stable profitability, excluding nonrecurring costs related to the listing process.
Following an intense process during the year, Solid Försäkring's share was listed on Nasdaq Stockholm's main market on 1 December 2021.
The separation from Resurs Holding means that Solid is now an independent partner for banks and credit institutions in the Nordic market, which presents new opportunities. During the period, we signed an agreement with Svea Bank and its sales finance business. Svea Bank will offer its customers payment protection insurance that covers monthly payments in the event of involuntary unemployment or sick leave. The insurance policy offers the conditions for sustainable private finances that protect the customer when something unforeseen occurs. The launch is scheduled for Q4 2022.
Solid Försäkring has a strong financial position with an SCR ratio amounting to 173 per cent on 31 December (148), corresponding to an increase of 3 percentage points compared with the end of September this year (170).
Marcus Tillberg CEO of Solid Försäkring
+47% Growth in premiums earnings for Assistance segment
Gross written premiums 2021
Solid Försäkring's share listed on Nasdaq Stockholm
Gross written premiums increased KSEK 33,310 to KSEK 281,012 (247,702) for the period. Sales increased in all segments compared with the fourth quarter last year. The improvement was mainly due to the continuing positive performance in the Assistance segment in terms both of travel insurance products and of products related to car warranties. The higher sales in the Personal Safety segment were mainly due to the upward trend in payment protection insurance in Norway. In the Product segment, the increase was mainly attributable to the trend in the consumer electronics industry in Sweden and the expanded partnership with Power in Denmark that was launched in the third quarter.
Premiums earned, net of reinsurance increased KSEK 26,933 to KSEK 258,486 (231,553). The increase was primarily due to the performance in the Assistance segment, but also the Product segment.
The technical result declined KSEK 7,983 to KSEK 27,731. Non-recurring costs related to the separate listing process impacted the result in the amount of KSEK -8,500. Excluding non-recurring costs, the technical result rose 1 per cent compared with the year-earlier period. Administrative expenses in the fourth quarter last year were exceptionally low, primarily due to dissolved salary-related provisions pertaining to 2020. Administrative expenses, excluding non-recurring costs, as a percentage of premiums earned amounted to 10.1 per cent for the period, which is in line with expectations but higher than last year when the percentage was 9.3 per cent.
The combined ratio fell during the quarter to 91.0 per cent (86.5) Excluding non-recurring costs, the combined ratio amounted to 87.7 per cent.
Result of asset management for the quarter amounted to KSEK 6,722, a decrease of KSEK 2,269 compared with the year-earlier period, which was mainly due to the trend in the interest-rate market in the final quarter of the year and that resulted in unrealised changes in value in the bond portfolio. Solid Försäkring's strategy is to hold bonds until maturity. However, the equities portfolio performed positively for the period.
Profit after tax increased KSEK 43,454 to KSEK 25,329 (-18,125). The quarter last year was charged with a Group contribution of KSEK 60,000.
Gross written premiums increased KSEK 61,941 to KSEK 1,013,421 (951,480). The increase was attributable to the positive trend in the Assistance segment.
Premiums earned, net of reinsurance increased KSEK 68,637 to KSEK 981,291 (912,654). The increase was primarily due to the performance in the Assistance segment, but also the Product segment.
The technical result declined KSEK 2,684 to KSEK 114,236. Excluding nonrecurring costs of SEK 10.4 million, related to the separate listing process, the technical result rose 7 per cent compared with the year-earlier period, primarily as a result of growth in premiums earned and lower claim costs. The claims ratio improved in all segments and is back at pre-pandemic levels in the Personal Safety segment.
The combined ratio was 89.3 per cent (88.2) Excluding non-recurring costs, the combined ratio amounted to 88.2 per cent. The expense ratio excluding non-recurring costs increased to 64.7 per cent (62.7) due to higher acquisition costs driven by a changed partner and product mix in the Assistance and Product segment as well as by lower claim costs. Administrative expenses, excluding non-recurring costs, were stable as a percentage of premiums earned and amounted to 10.2 per cent, which is in phase with the preceding year 10.3 per cent.
+13% Gross written premiums
+12% Premiums earned, net of reinsurance
-22%
+1% excl. non-recurring costs Technical result
87.7% excl. non-recurring costs Combined ratio
+7% Gross written premiums
+8% Premiums earned, net of reinsurance
-2%
+7% excl. non-recurring costs Technical result
88.2% excl. non-recurring costs Combined ratio
The total investment portfolio, including cash and cash equivalents, contains a low share of equities, 6 per cent, and relatively high share of cash and cash equivalents, 47 per cent, on 31 December 2021. The trend in the capital markets in 2021 was favourable and impacted mainly the equities portfolio positively during the year. Result of asset management amounted to KSEK 41,888, an increase of KSEK 29,839 compared with the preceding year, which was primarily attributable to the positive trend in the equities portfolio during the year. The equities portfolio reported a negative result in 2020 due to the sharp decline in the capital market after the outbreak of COVID-19. The total return was 3.6 per cent (1.3)
Profit before appropriations and tax, excluding non-recurring costs, rose KSEK 41,161 to KSEK 161,765 (120,604)
Profit after tax increased KSEK 43,454 to KSEK 119,980 (43,372).
Equity (2) on 31 December amounted to KSEK 714,979 (589,392) and Net Asset Value (2) to KSEK 692,434 (558,553). For the full-year 1 January–31 December 2021, annualised RoE (2)* amounted to 18.4 per cent (8.0) and annualised RoNAV (2)** to 20.3 per cent (9.8).
The SCR ratio improved to 173 per cent (148) as per 31 December. The company has a stable Solvency II position and company management and the Board do not believe that the ongoing pandemic will jeopardise stability or the capital situation in the future.
Cash flow from operating activities amounted to KSEK 163,056 (150,058). Cash flow from investing activities amounted to KSEK 173,275 (-105,296). The subordinated loan of KSEK 200,000 to Resurs Bank fell due for payment in April. Most of the funds have not yet been re-invested in alternative investments.
Cash flow from financing activities amounted to KSEK -59,000 (- 12,000). Group contributions of KSEK 60,000 for the 2020 financial year were paid to the former Parent Company Resurs Holding during the year.
Cash and cash equivalents increased to KSEK 613,139 (328,205).
* RoE (2) – annualised aggregated result after tax for the period in relation to the average adjusted equity (2). The average of the balance sheet items is calculated based on opening and closing values.
**RoNAV (2) – annualised aggregated result after tax for the period in relation to the average adjusted equity excluding intangible assets (2). The average of the balance sheet items is calculated based on opening and closing values.
20.3% RoNAV (2)
173% SCR ratio
| Oct-Dec | Oct-Dec | Cha | Jan– | Jan– | Cha | |
|---|---|---|---|---|---|---|
| KSEK, unless otherwise stated | 2021 | 2020 | nge | Dec | Dec | nge |
| 2021 | 2020 | |||||
| Gross written premiums | 281,012 | 247,702 | 13% | 1,013,421 | 951,480 | 7% |
| Premiums earned, net of reinsurance | 258,486 | 231,553 | 12% | 981,291 | 912,654 | 8% |
| Technical result | 27,731 | 35,714 | -22% | 114,236 | 116,920 | -2% |
| Result of asset management | 6,722 | 8,991 | -25% | 41,888 | 12,049 | 248% |
| Profit after tax | 25,329 | -18,125 | 240% | 119,980 | 43,372 | 177% |
| Earnings per share, SEK | 1.27 | -0.91 | 240% | 6.00 | 2.17 | 177% |
| Claims ratio | 21.6% | 24.5% | 23.5% | 25.4% | ||
| Expense ratio | 69.4% | 62.0% | 65.7% | 62.7% | ||
| Combined ratio | 91.0% | 86.5% | 89.3% | 88.2% | ||
| 31 Dec | 31 Dec | |
|---|---|---|
| KSEK, unless otherwise stated | 2021 | 2020 |
| Investment assets measured at fair value | 682,621 | 821,505 |
| Investment assets including cash and cash equivalents | 1,295,760 | 1,149,710 |
| Direct yield, from beginning of year, % | 1.4% | 1.5% |
| Total return, from beginning of year, % | 3.6% | 1.3% |
| Technical provisions, net of reinsurance | 612,089 | 584,097 |
| Net asset value | 815,531 | 693,849 |
| Equity | 327,413 | 205,731 |
| Equity (2)* | 714,979 | 589,392 |
| Net Asset Value, NAV (2)* | 692,434 | 558,553 |
| Return on equity (2), RoE (2) %* | 18.4% | 8.0% |
| Return on equity excl. intangible assets, RoNAV (2) %* | 20.3% | 9.8% |
| Eligible capital base to meet solvency capital requirement | 797,379 | 661,968 |
| Eligible capital base to meet minimum capital requirement | 792,259 | 652,976 |
| Solvency Capital Requirement (SCR) | 461,754 | 446,189 |
| Minimum Capital Requirement (MCR) | 130,604 | 123,744 |
| SCR ratio | 173% | 148% |
| MCR ratio | 607% | 528% |
| Solvency ratio, % | 82.7% | 74.5% |
| Number of employees at end of period* | 68 | 70 |
| Average number of FTEs* | 66 | 68 |
* Alternative performance measures are performance measures that company management and analysts use to assess the company's development and are not defined by International Financial Reporting Standards (IFRS) or the Solvency II rules. Company management believes that the performance measures make it easier for investors to analyse the company's performance. The calculations and reconciliation against information in the financial statements of these performance measures are presented on the website under "Financial statements". Definitions of performance measures are presented on the website under "Financial data".
In December, Solid Försäkring AB (publ) signed an agreement with Svea Bank and its sales finance business. Svea Bank will offer its customers in Sweden payment protection insurance that covers monthly payments in the event of involuntary unemployment or sick leave, for example. The launch is scheduled for Q4 2022.
In the fourth quarter, sales in the segment increased 2 per cent compared with the year-earlier period. The increase was primarily driven by the recovery in Norway where sales of payment protection insurance increased 35 per cent compared with the year-earlier period.
Costs for claims incurred, net of reinsurance, fell sharply in the quarter and returned to levels before the outbreak of COVID-19.
Gross written premiums rose KSEK 2,010 during the period to KSEK 94,001 (91,991). Premiums earned, net of reinsurance declined KSEK 5,150 to KSEK 91,884 (97,034).
Gross profit increased KSEK 2,303 to KSEK 24,634 (22,331). The gross margin improved to 26.8 per cent (23.0), mainly due to lower costs for claims incurred, net of reinsurance.
Gross written premiums declined KSEK 8,912 to KSEK 369,547 (378,459). Premiums earned, net of reinsurance declined KSEK 22,254 to KSEK 374,391 (396,645) and costs for claims incurred, net of reinsurance fell KSEK 11,420. Gross profit increased 872 per cent to KSEK 98,937 (98,065).
The gross margin improved and returned to levels before the outbreak of COVID-19. The gross margin for the full-year 2021 was 26.4 per cent (24.7).
+2% Gross written premiums
-5% Premiums earned, net of reinsurance
+10% Gross profit
26.8% Gross margin
| KSEK | Oct-Dec 2021 |
Oct-Dec 2020 |
Cha nge |
Jan-Dec 2021 |
Jan-Dec 2020 |
Cha nge |
|---|---|---|---|---|---|---|
| Gross written premiums | 94,001 | 91,991 | 2% | 369,547 | 378,459 | -2% |
| Premiums earned, net of reinsurance | 91,884 | 97,034 | -5% | 374,391 | 396,645 | -6% |
| Claims incurred, net of reinsurance | -8,392 | -14,108 | -41% | -39,039 | -50,459 | -23% |
| Acquisition costs* | -58,858 | -60,595 | -3% | -236,415 | -248,121 | -5% |
| Gross profit** | 24,634 | 22,331 | 10% | 98,937 | 98,065 | 1% |
| Gross margin*** | 26.8% | 23.0% | +3.8 p.p. | 26.4% | 24.7% | +1.7 p.p. |
* Acquisition costs include brokerage commission and costs for direct sales
** Gross profit = premiums earned, net of reinsurance minus claims incurred net of reinsurance minus acquisition costs
*** Gross margin = gross profit as a percentage of premiums earned, net of reinsurance
A developed insurance offering for white goods was launched in October with a partner of Solid Försäkring in the Swedish and Norwegian consumer electronics markets.
Together with Solid Försäkring's partner Power, a new insurance product for used products in the Norwegian market was launched during the quarter. The partnership with Power in Denmark that was initiated in the third quarter had a positive impact on sales volumes for the period.
Certain industries in the segment are continuing to experience a lack of goods, high shipping costs and a shortage of container vessels, which negatively impacted sales volumes for some partners. Signs of a slight easing of delivery problems in the bicycle industry were noted in the quarter.
Gross written premiums rose KSEK 4,984 during the period to KSEK 105,421 (100,437). The increase was mainly attributable to the consumer electronics industry in Denmark and Sweden. Premiums earned, net of reinsurance increased KSEK 7,907 to KSEK 91,179 (83,272). This increase was primarily attributable to insurance for consumer electronics.
Gross profit declined KSEK 1,176 to KSEK 17,804 (18,980), mainly due to higher acquisition costs, which was primarily the result of a changed product and partner mix in the segment. The gross margin declined to 19.5 per cent (22.8) due to increased acquisition costs.
Gross written premiums declined KSEK 643 to KSEK 361,090 (361,733). Premiums earned, net of reinsurance increased KSEK 21,857 to KSEK 346,577 (324,720). Gross profit increased 381 per cent to KSEK 63,323 (62,942).
Due to the changed product and partner mix in the segment, which drove slightly higher acquisition costs, the gross margin for the year declined to 18.3 per cent (19.4).
+5% Gross written premiums
+9% Premiums earned, net of reinsurance
-6% Gross profit
19.5% Gross margin
| KSEK | Oct-Dec 2021 |
Oct-Dec 2020 |
Cha nge |
Jan-Dec 2021 |
Jan-Dec 2020 |
Cha nge |
|---|---|---|---|---|---|---|
| Gross written premiums | 105,421 | 100,437 | 5% | 361,090 | 361,733 | 0% |
| Premiums earned, net of reinsurance | 91,179 | 83,272 | 9% | 346,577 | 324,720 | 7% |
| Claims incurred, net of reinsurance | -25,758 | -23,674 | 9% | -103,545 | -108,720 | -5% |
| Acquisition costs* | -47,617 | -40,618 | 17% | -179,709 | -153,058 | 17% |
| Gross profit** | 17,804 | 18,980 | -6% | 63,323 | 62,942 | 1% |
| Gross margin*** | 19.5% | 22.8% | -3.3 p.p. | 18.3% | 19.4% | -1.1 p.p. |
* Acquisition costs include brokerage commission and costs for direct sales
** Gross profit = premiums earned, net of reinsurance minus claims incurred net of reinsurance minus acquisition costs
*** Gross margin = gross profit as a percentage of premiums earned, net of reinsurance
The segment reported robust growth in premium income, premiums earned and gross profit for the fourth quarter. At the end of 2019, before the outbreak of COVID-19, collaboration with an existing partner in the travel industry was expanded to include more European countries, which together with higher demand for travel drove the trend in travel insurance products.
Sale of insurance policies linked to car warranties increased sharply during the period. The number of car dealerships that the company works together with increased compared with the preceding quarter, which contributed positively to the performance.
Gross written premiums rose KSEK 26,316 during the period to KSEK 81,590 (55,274). Premiums earned, net of reinsurance increased KSEK 24,176 to KSEK 75,423 (51,247). The increase both in gross written premiums and in premiums earned, net of reinsurance was attributable to insurance related to car warranties and travel insurance products.
Gross profit increased KSEK 3,862 to KSEK 15,382 (11,520) mainly as a result in growth in premiums earned. The gross margin declined to 20.4 per cent (22.5) mainly due to a changed product mix for the segment.
Gross written premiums increased KSEK 71,496 to KSEK 282,784 (211,288). Premiums earned, net of reinsurance increased KSEK 69,034 to KSEK 260,323 (191,289). Gross profit increased KSEK 12,453 to KSEK 53,326 (40,873) due to growth in car warranties and the recovery in the travel industry.
The gross margin declined to 20.5 per cent (21.4), as the result of a changed product mix in the segment with the share of travel insurance products increasing compared with last year.
+48% Gross written premiums
+47% Premiums earned, net of reinsurance
+34% Gross profit
20.4% Gross margin
| KSEK | Oct-Dec 2021 |
Oct-Dec 2020 |
Cha nge |
Jan-Dec 2021 |
Jan-Dec 2020 |
Cha nge |
|---|---|---|---|---|---|---|
| Gross written premiums | 81,590 | 55,274 | 48% | 282,784 | 211,288 | 34% |
| Premiums earned, net of reinsurance | 75,423 | 51,247 | 47% | 260,323 | 191,289 | 36% |
| Claims incurred, net of reinsurance | -21,615 | -19,045 | 13% | -88,437 | -73,017 | 21% |
| Acquisition costs* | -38,426 | -20,682 | 86% | -118,560 | -77,399 | 53% |
| Gross profit** | 15,382 | 11,520 | 34% | 53,326 | 40,873 | 30% |
| Gross margin*** | 20.4% | 22.5% | -2.1 p.p. | 20.5% | 21.4% | -0.9 p.p. |
* Acquisition costs include brokerage commission and costs for direct sales
** Gross profit = premiums earned, net of reinsurance minus claims incurred net of reinsurance minus acquisition costs
*** Gross margin = gross profit as a percentage of premiums earned, net of reinsurance
On 10 August, the General Meeting of Solid Försäkringsaktiebolag ("Solid Försäkring") resolved that the number of shares be increased on the basis of a split, whereby the shares would be divided into a total of 20,000,000 shares. The quotient value thus declined to SEK 1.5 per share.
On 4 October, the company's former owner Resurs Holding AB ("Resurs") announced that the Board had decided to propose to an Extraordinary General Meeting on 2 November 2021 to resolve to distribute all of the shares in Solid Försäkring to Resurs Holding AB's shareholders.
On 2 November 2021, the Extraordinary General Meeting of Resurs resolved to distribute all of the shares in Solid Försäkring to Resurs's shareholders.
On 22 November, Solid Försäkring published a prospectus for admission to trading on Nasdaq Stockholm.
Solid Försäkring's shares were listed on Nasdaq Stockholm on 1 December.
Except for the above, no other significant events occurred during the period in question.
No significant events took place after the end of the period.
New partnerships 2021
The company's ability to manage risks impacts the company's financial position and ability to achieve set targets. Various types of risks arise in the operations, such as insurance risk, market risk, counterparty risk, operational risks and other risks. The Board has adopted policies for the operations in order to balance the company's risk-taking and restrict and control risks. All policies are updated as necessary and revised at least once a year. The Board and CEO are ultimately responsible for risk management. The company's risk management is described is more detail in the most recent annual report under the section Information about risks and uncertainties and in Note 2 Risk disclosures.
In general, no changes of material importance to risk management took place during the period, and the company does not believe that the ongoing pandemic will jeopardise the company's stability or capital situation in the future.
Solid Försäkringsaktiebolag's (publ), Corp. ID. No. 516401-8482, has been listed on Nasdaq Stockholm (Small Cap) since 1 December 2021. The head office is located in Helsingborg, Sweden.
The focus of the operations is on niche insurance, with the Nordic region as its main market. The non-life insurance operations are divided into three segments: Product, Personal Safety and Assistance. The operations in Norway, Finland and Switzerland are conducted by branches, and operations in other countries are conducted as cross-border operations. Solid Försäkring partners with leading retail chains in various industries and the banking sector, and has about 2.3 million customers across the
Nordic region.
The number of employees, regardless of degree of employment, was 68 on 31 December, a reduction of two people compared with the end of December 2020.
Solid Försäkringsaktiebolag's (Solid) share was listed on Nasdaq Stockholm (Small Cap) under the ticker SFAB and its ISIN is SE0017082548. Since Solid was listed on Nasdaq Stockholm on 1 December 2021, the share price trend is presented for the period between 1 December and 31 December 2021 in this report.
On the listing date of 1 December 2021 (the first trading day), the share was first traded at SEK 55.00 and closed at SEK 60.16. The share price on the final trading day of the period was SEK 58.75. The highest price paid of SEK 65.75 was noted on 6 December and the lowest price paid of SEK 54.05 was noted on 23 December.
A total of 3,565,701 shares were traded during the period, corresponding to a turnover rate of 17.83 per cent during the measurement period of 1–31 December 2021.
| The largest directly registered shareholders | Percenta |
|---|---|
| on 31 December 2021 | ges of share |
| capital | |
| Waldakt AB | 28.9% |
| Avanza Pension | 5.6% |
| Swedbank Robur Fonder | 3.1% |
| Vanguard | 2.4% |
| Third Swedish National Pension Fund | 2.1% |
| Livförsäkringsbolaget Skandia | 2.0% |
| Dimensional Fund Advisors | 1.8% |
| Janus Henderson Investors | 1.7% |
| Catea Group AB | 1.7% |
| Nordnet Pensionsförsäkring | 1.6% |
| 50.7% |
Solid Försäkring has the following medium-term financial targets:
According to the Board's dividend policy, the company intends to pay an annual dividend corresponding to at least 50 per cent of net profit for the year from and including the 2022 financial year. The dividend policy is conditional on the target for the SCR ratio and that no potential major acquisitions are carried out.
In accordance with previous communication during the listing process, the Board proposes to the Annual General Meeting that no dividend be paid to shareholders for the 2021 financial year.
The Board of Directors and the CEO certify that this year-end report provides a fair review of the company's operations, financial position and results and describes the significant risks and uncertainties faced by the company.
Helsingborg, 7 February 2022
Marcus Tillberg, CEO
The Board of Directors
Lars Nordstrand, Chairman
Fredrik Carlsson David Nilsson Sträng
Marita Odélius Engström Lisen Thulin
| KSEK | Note | Oct-Dec 2021 |
Oct-Dec 2020 |
Jan– Dec 2021 |
Jan– Dec 2020 |
|---|---|---|---|---|---|
| Technical account of non-life insurance operations | |||||
| Premiums earned, net of reinsurance | 3 | 258,486 | 231,553 | 981,291 | 912,654 |
| Allocated investment return transferred from the non-technical account | 4,400 | 4,514 | 8,900 | 9,014 | |
| Claims incurred, net of reinsurance | 4 | -55,765 | -56,827 | -231,021 | -232,196 |
| Operating expenses | 5 | -179,390 | -143,526 | -644,934 | -572,552 |
| Technical result for non-life insurance operations | 27,731 | 35,714 | 114,236 | 116,920 | |
| Non-technical account | |||||
| Investment income | 4,561 | 4,723 | 25,068 | 20,515 | |
| Investment charges | -605 | -520 | -2,188 | -1,937 | |
| Unrealised gains/losses on investment assets | 2,766 | 4,788 | 19,008 | -6,529 | |
| Result of asset management | 6 | 6,722 | 8,991 | 41,888 | 12,049 |
| Allocated investment return transferred to technical account | -4,400 | -4,514 | -8,900 | -9,014 | |
| Other non-technical income | 1,392 | 3,285 | 6,750 | 3,655 | |
| Other non-technical expenses | -503 | -2,505 | -2,609 | -3,006 | |
| Profit before appropriations and tax | 30,942 | 40,971 | 151,365 | 120,604 | |
| Appropriations | 0 | -60,000 | 0 | -60,000 | |
| Profit before tax | 30,942 | -19,029 | 151,365 | 60,604 | |
| Tax on profit for the period | -5,613 | 904 | -31,385 | -17,232 | |
| Net profit for the period | 25,329 | -18,125 | 119,980 | 43,372 | |
| Basic and diluted earnings per share, SEK | 12 | 1.27 | -0.91 | 6.00 | 2.17 |
| KSEK | Oct-Dec | Oct-Dec | Jan– | Jan– |
|---|---|---|---|---|
| 2021 | 2020 | Dec | Dec | |
| 2021 | 2020 | |||
| Net profit for the period | 25,329 | -18,125 | 119,980 | 43,372 |
| Items that will be reclassified to profit or loss | ||||
| Translation differences in foreign operations | 580 | -409 | 701 | -691 |
| Comprehensive income for the period | 25,909 | -18,534 | 120,681 | 42,681 |
| KSEK | Note | 30 Dec 2021 |
31 Dec 2020 |
|---|---|---|---|
| Assets | |||
| Intangible assets | 22,545 | 30,839 | |
| Investment assets | 7 | 682,621 | 821,505 |
| Reinsurer's share of technical provisions | 3,811 | 3,667 | |
| Receivables | 81,052 | 94,839 | |
| Property, plant & equipment | 1,911 | 2,908 | |
| Cash and bank balances | 613,139 | 328,205 | |
| Other assets | 388 | 2,085 | |
| Prepaid expenses and accrued income | 210,418 | 197,661 | |
| Total assets | 1,615,885 | 1,481,709 | |
| Equity and liabilities | |||
| Equity | |||
| Share capital | 30,000 | 30,000 | |
| Fair value reserve | -777 | -1,478 | |
| Retained earnings | 178,210 | 133,837 | |
| Net profit for the period | 119,980 | 43,372 | |
| Total equity | 327,413 | 205,731 | |
| Untaxed reserves | |||
| Contingency reserve | 488,118 | 488,118 | |
| Total untaxed reserves | 488,118 | 488,118 | |
| Liabilities | |||
| Technical provisions, net of outward reinsurance | 8 | 615,900 | 587,764 |
| Other liabilities | 164,926 | 183,183 | |
| Accrued expenses and deferred income | 19,528 | 16,913 | |
| Total liabilities | 800,354 | 787,860 | |
| Total equity and liabilities | 1,615,885 | 1,481,709 |
| KSEK | Share capital |
Fair value reserve |
Retain ed earning s |
Net profit for the period |
Total equity |
|---|---|---|---|---|---|
| Equity, 1 Jan 2020 | 30,000 | -787 | 34,382 | 49,455 | 113,050 |
| Net profit for the period | 43,372 | 43,372 | |||
| Translation differences | -691 | -691 | |||
| Comprehensive income for the period | -691 | 43,372 | 42,681 | ||
| Previous year's profit brought forward | 49,455 | -49,455 | 0 | ||
| Owner transactions | |||||
| Shareholders' contributions | 50,000 | 50,000 | |||
| Equity, 31 December 2020 | 30,000 | -1,478 | 133,837 | 43,372 | 205,731 |
| Equity, 1 January 2021 | 30,000 | -1,478 | 133,837 | 43,372 | 205,731 |
| Net profit for the period | 119,980 | 119,980 | |||
| Translation differences | 701 | 701 | |||
| Comprehensive income for the period | 701 | 119,980 | 120,681 | ||
| Previous year's profit brought forward | 43,372 | -43,372 | 0 | ||
| Owner transactions | |||||
| Option premiums received/repurchased | 1,001 | 1,001 | |||
| Equity, 31 December 2021 | 30,000 | -777 | 178,210 | 119,980 | 327,413 |
| Jan– | Jan– | |
|---|---|---|
| KSEK | Dec | Dec |
| 2021 | 2020 | |
| Operating activities | ||
| Profit before tax | 151,365 | 60,604 |
| Adjustment for non-cash items | -24,648 | 122,069 |
| Income taxes paid | -13,894 | -20,219 |
| Cash flow from operating activities before changes in working capital | 112,823 | 162,454 |
| Change in operating receivables | 11,035 | -14,976 |
| Change in operating liabilities | 39,198 | 2,580 |
| Cash flow from operating activities | 163,056 | 150,058 |
| Cash flow from investing activities | 173,275 | -105,296 |
| Cash flow from financing activities | -59,000 | -12,000 |
| Cash flow for the period | 277,331 | 32,762 |
| Cash and cash equivalents at the beginning of the year | 328,205 | 305,305 |
| Cash flow for the period | 277,331 | 32,762 |
| Exchange differences in cash and cash equivalents | 7,603 | -9,862 |
| Cash and cash equivalents at end of period | 613,139 | 328,205 |
The reported cash flows only include transactions involving cash inflows and outflows. The cash transactions are classified under operating activities, investing activities and financing activities. Cash and cash equivalents are bank deposits.
Solid Försäkring's year-end report has been prepared in accordance with IAS 34 Interim Financial Report and the applicable parts of the Swedish Annual Accounts Act for Insurance Companies (1995:1560), the Swedish Financial Supervisory Authority's regulations and general guidelines on Annual Accounts at Insurance Undertakings (FFFS 2019:23), including all applicable amendment regulations, and the Swedish Financial Reporting Board's recommendation RFR 2 Accounting for Legal Entities. Disclosures pursuant to IAS 34.16A are presented in the financial statements and the accompanying notes as well as elsewhere in this year-end report.
The ESMA guidelines on alternative performance measures are applied. These are performance measures that are not defined in applicable regulations (IFRS, ÅRFL, FFFS 2019:23 and FRL), but that Solid Försäkring believes to be relevant for monitoring and describing the company's financial situation and to provide additional useful information for users of the financial statements. Since these measures have been developed and adapted for Solid Försäkring, they are not fully comparable with similar performance measures presented by other companies.
The same accounting policies and basis for calculations were applied as those used in the most recent annual report. The following accounting policies were applied for the first time during the quarter: IFRS 8 Operating segment, refer to information
in Note 2 IAS 33 Earnings per share.
No other IFRS or IFRIC interpretations have come into force since 1 January 2021 that have had a material impact on the company.
Solid has established three operating segments: Personal Safety, Product and Assistance. These operating segments are reported in a manner consistent with the internal financial reporting provided to the chief operating decision maker. For Solid, the chief operating decision maker is the CEO since this is the person who is responsible for allocating resources and evaluating results. The financial information reported to the CEO, used as a basis for allocating resources and assessing the Company's results, as gross profit and gross margin specified by three product areas, which have also been determined as the Company's three operating segments: Personal Safety, Product and Assistance. The Company uses the same valuation principles in its segment report according to IFRS 8 as in its financial statements.
| Oct-Dec 2021 | |||||
|---|---|---|---|---|---|
| Personal Safety | Product | Assistance | N | Total | |
| KSEK | ot | ||||
| specified | |||||
| by segment |
|||||
| Gross written premiums | 94,001 | 105,421 | 81,590 | 281,012 | |
| Premiums earned, net of reinsurance | 91,884 | 91,179 | 75,423 | 258,486 | |
| Claims incurred, net of reinsurance | -8,392 | -25,758 | -21,615 | -55,765 | |
| Acquisition costs* | -58,858 | -47,617 | -38,426 | -144,901 | |
| Gross profit** | 24,634 | 17,804 | 15,382 | 57,820 | |
| Gross margin*** | 26.8% | 19.5% | 20.4% | 22.4% | |
| Administrative expenses | -34,489 | -34,489 | |||
| Allocated investment return transferred from non-technical account | 4,400 | 4,400 | |||
| Technical result | 27,731 | ||||
| Result of asset management | 6,722 | 6,722 | |||
| Allocated investment return transferred to non-technical account | -4,400 | -4,400 | |||
| Other non-technical income | 1,392 | 1,392 | |||
| Other non-technical expenses | -503 | -503 | |||
| Profit before tax | 30,942 | ||||
| Oct-Dec 2020 | |||||
|---|---|---|---|---|---|
| KSEK | Personal Safety | Product | Assistance | N ot specified |
Total |
| by segment |
|||||
| Gross written premiums | 91,991 | 100,437 | 55,274 | 247,702 | |
| Premiums earned, net of reinsurance | 97,034 | 83,272 | 51,247 | 231,553 | |
| Claims incurred, net of reinsurance | -14,108 | -23,674 | -19,045 | -56,827 | |
| Acquisition costs* | -60,595 | -40,618 | -20,682 | -121,895 | |
| Gross profit** | 22,331 | 18,980 | 11,520 | 52,831 | |
| Gross margin*** | 23.0% | 22.8% | 22.5% | 22.8% | |
| Administrative expenses | -21,631 | -21,631 | |||
| Allocated investment return transferred from non-technical account | 4,514 | 4,514 | |||
| Technical result | 35,714 | ||||
| Result of asset management | 8,991 | 8,991 | |||
| Allocated investment return transferred to non-technical account | -4,514 | -4,514 | |||
| Other non-technical income | 3,285 | 3,285 | |||
| Other non-technical expenses | -2,505 | -2,505 | |||
| Appropriations | -60,000 | -60,000 | |||
| Profit before tax | -19,029 |
| Jan–Dec 2021 | |||||
|---|---|---|---|---|---|
| KSEK | Personal Safety | Product | Assistance | N ot |
Total |
| specified | |||||
| by segment |
|||||
| Gross written premiums | 369,547 | 361,090 | 282,784 | 1,013,421 | |
| Premiums earned, net of reinsurance | 374,391 | 346,577 | 260,323 | 981,291 | |
| Claims incurred, net of reinsurance | -39,039 | -103,545 | -88,437 | -231,021 | |
| Acquisition costs* | -236,415 | -179,709 | -118,560 | -534,684 | |
| Gross profit** | 98,937 | 63,323 | 53,326 | 215,586 | |
| Gross margin*** | 26.4% | 18.3% | 20.5% | 22.0% | |
| Administrative expenses | -110,250 | -110,250 | |||
| Allocated investment return transferred from non-technical account | 8,900 | 8,900 | |||
| Technical result | 114,236 | ||||
| Result of asset management | 41,888 | 41,888 | |||
| Allocated investment return transferred to non-technical account | -8,900 | -8,900 | |||
| Other non-technical income | 6,750 | 6,750 | |||
| Other non-technical expenses | -2,609 | -2,609 | |||
| Profit before tax | 151,365 | ||||
| Jan–Dec 2020 |
| ot KSEK specified by segment Gross written premiums 378,459 361,733 211,288 951,480 Premiums earned, net of reinsurance 396,645 324,720 191,289 912,654 Claims incurred, net of reinsurance -50,459 -108,720 -73,017 -232,196 Acquisition costs -248,121 -153,058 -77,399 -478,578 Gross profit* 98,065 62,942 40,873 201,880 |
|---|
| Gross margin*** 24.7% 19.4% 21.4% 22.1% |
| Administrative expenses -93,974 -93,974 |
| Allocated investment return transferred from non-technical account 9,014 9,014 |
| Technical result 116,920 |
| Result of asset management 12,049 12,049 |
| Allocated investment return transferred to non-technical account -9,014 -9,014 |
| Other non-technical income 3,655 3,655 |
| Other non-technical expenses -3,006 -3,006 |
| Appropriations -60,000 -60,000 |
| Profit before tax 60,604 |
* Acquisition costs include brokerage commission and costs for direct sales, included in Note 5 Operating expenses.
** Gross profit = premiums earned, net of reinsurance minus claims incurred net of reinsurance minus acquisition costs
*** Gross margin = gross profit as a percentage of premiums earned, net of reinsurance
Premiums earned, net of reinsurance in the Personal Safety segment for Solid Försäkring's largest partner amounted to KSEK 89,270 (94,775) in Q4 and KSEK 364,951 (387,900) for the full-year 2021.
| KSEK | Oct-Dec 2021 |
Oct-Dec 2020 |
Jan– Dec 2021 |
Jan– Dec 2020 |
|---|---|---|---|---|
| Gross written premiums, geographical specification | ||||
| Sweden | 168,151 | 158,070 | 646,602 | 615,509 |
| Norway | 49,110 | 46,750 | 170,667 | 176,392 |
| Denmark | 22,755 | 15,874 | 69,978 | 65,365 |
| Finland | 12,104 | 14,496 | 48,669 | 58,909 |
| Rest of Europe | 28,892 | 12,512 | 77,505 | 35,305 |
| Total gross written premiums | 281,012 | 247,702 | 1,013,421 | 951,480 |
| Outward reinsurance premiums | -9,193 | -4,825 | -27,605 | -19,922 |
| Change in provision for unearned premiums and unexpired risks | -12,612 | -11,324 | -4,634 | -18,890 |
| Reinsurers' share of change in provision for unearned premiums and unexpired risks |
-721 | 0 | 109 | -14 |
| Total premiums earned, net of reinsurance | 258,486 | 231,553 | 981,291 | 912,654 |
| Oct-Dec | Oct-Dec | Jan– | Jan– | |
|---|---|---|---|---|
| KSEK | 2021 | 2020 | Dec | Dec |
| 2021 | 2020 | |||
| Claims paid, net of outward reinsurance | -58,952 | -57,594 | -232,902 | -228,583 |
| Reinsurers' share of Claims paid | 1,798 | 1,454 | 6,325 | 6,073 |
| Change in Provision for claims outstanding, net of outward reinsurance | 1,399 | -506 | -4,434 | -9,515 |
| Reinsurers' share of Change in provision for claims outstanding | -10 | -181 | -10 | -171 |
| Total claims incurred, net of reinsurance | -55,765 | -56,827 | -231,021 | -232,196 |
| 17 |
| KSEK | Oct-Dec 2021 |
Oct-Dec 2020 |
Jan– Dec 2021 |
Jan– Dec 2020 |
|---|---|---|---|---|
| Specification of income statement item operating expenses | ||||
| Acquisition costs* | -154,277 | -127,925 | -539,232 | -486,015 |
| Change in item Deferred acquisition costs* | 8,848 | 5,418 | 2,920 | 5,873 |
| Administrative expenses | -34,489 | -21,631 | -110,250 | -93,974 |
| Operating expenses and profit-sharing in outward reinsurance* | 528 | 612 | 1,628 | 1,564 |
| Total income statement item operating expenses | -179,390 | -143,526 | -644,934 | -572,552 |
| Other operating expenses | ||||
| Claims adjustment costs included in Claims paid | -6,032 | -6,022 | -23,030 | -24,937 |
| Financial management costs included in Investment charges | -300 | -300 | -1,200 | -1,200 |
| Total other operating expenses | -6,332 | -6,322 | -24,230 | -26,137 |
| Total operating expenses | -185,722 | -149,848 | -669,164 | -598,689 |
* The marked items comprise total acquisition costs
| Oct-Dec | Oct-Dec | Jan– | Jan– | |
|---|---|---|---|---|
| KSEK | 2021 | 2020 | Dec | Dec |
| Investment income | 2021 | 2020 | ||
| Dividends on shares and participating interests | 915 | 639 | 3,561 | 1,521 |
| Interest income, etc. | ||||
| Bonds and other interest-bearing securities | 1,966 | 1,877 | 7,670 | 7,486 |
| Other interest income * | 1,206 | 1,601 | 4,061 | 7,676 |
| Exchange gains (net) | 424 | -840 | 1,468 | 76 |
| Capital gains (net) | 47 | 1,409 | 8,291 | 3,713 |
| Other | 3 | 37 | 17 | 43 |
| Total investment income | 4,561 | 4,723 | 25,068 | 20,515 |
| Investment charges | -605 | -520 | -2,188 | -1,937 |
| Unrealised gains/losses on investment assets recognised through profit or loss | ||||
| Shares and participating interests | 5,938 | 2,797 | 20,057 | -4,325 |
| Bonds and other interest-bearing securities | -3,172 | 1,991 | -1,049 | -2,204 |
| Total unrealised gains/losses on investment assets | 2,766 | 4,788 | 19,008 | -6,529 |
| Result of asset management | 6,722 | 8,991 | 41,888 | 12,049 |
* All Other interest income consists of interest income on assets measured at fair value.
| KSEK | 31 Dec | |
|---|---|---|
| 2020 | ||
| Shares and participating interests | 78,788 | 98,207 |
| Bonds and other interest-bearing securities | 574,581 | 493,616 |
| Subordinated loans | 29,252 | 229,682 |
| Total investment assets | 682,621 | 821,505 |
| KSEK | 30 Dec 2021 |
31 Dec 2020 |
|---|---|---|
| Opening balance technical provisions, net of outward reinsurance | 587,764 | 585,557 |
| Provision for unearned premiums and unexpired risks, gross | ||
| Opening balance | 532,931 | 538,318 |
| Insurance policies written during the period | 1,013,421 | 951,480 |
| Premiums earned during the period | -1,008,787 | -932,590 |
| Currency effects | 17,540 | -24,277 |
| Closing balance | 555,105 | 532,931 |
| Provision for claims outstanding, gross | ||
|---|---|---|
| Opening balance | 54,833 | 47,239 |
| Settled claims from previous financial years | -21,940 | -21,814 |
| Changes in the expected cost of claims incurred in previous years (run-off result) | -8,332 | -9,200 |
| Provisions for the year | 34,706 | 40,529 |
| Currency effects | 1,528 | -1,921 |
| Closing balance | 60,795 | 54,833 |
| Closing balance technical provisions, net of outward reinsurance | 615,900 | 587,764 |
| KSEK | 30 Dec 2021 |
31 Dec 2020 |
|---|---|---|
| Policyholders' priority rights | ||
| Assets encompassed by policyholders' priority rights | 1,296,131 | 1,150,416 |
| Technical provisions, net | -612,089 | -584,097 |
| Surplus from registered assets | 684,042 | 566,319 |
Solid Försäkringsaktiebolag is 28.9 per cent owned by Waldakt AB, and of the remaining owners, no individual owner has a holding of 20 per cent or more. Normal business transactions have taken place between Solid Försäkring and other related parties with significant influence, which are presented below. Operating expenses in the table refer to market-based remuneration paid for the distribution of insurance to related parties' customers. Disclosures for 2020 include the former Parent Company Resurs Holding AB (publ) and fellow subsidiary Resurs Bank AB (publ).
| KSEK | Oct-Dec 2021 |
Oct-Dec 2020 |
Jan– Dec 2021 |
Jan– Dec 2020 |
|---|---|---|---|---|
| Income and expenses | ||||
| Premiums earned | 385 | 1,812 | ||
| Investment return, interest income | 1,470 | 7,503 | ||
| Shareholders' contributions | 50,000 | |||
| Group contributions | -60,000 | |||
| Brokerage commission | -20,037 | -73,594 | -64,016 | -286,060 |
| Operating expenses | -6,393 | -19,651 | ||
| Total income and expenses | -20,037 | -78,132 | -64,016 | -306,396 |
| 31 Dec | ||
|---|---|---|
| KSEK | 2021 | 2020 |
| Assets and liabilities | ||
| Receivables | 5,059 | 39,388 |
| Cash and bank balances | 1,297 | |
| Other loans | 200,000 | |
| Liabilities | -21,072 | -116,443 |
| Total assets and liabilities | -16,013 | 124,242 |
| Marcus Tillberg | CEO |
|---|---|
| Lars Nordstrand | Chairman of Solid Försäkringsaktiebolag |
| Fredrik Carlsson | Board member of Solid Försäkringsaktiebolag |
| David Nilsson Sträng | Board member of Solid Försäkringsaktiebolag |
| Marita Odélius Engström | Board member of Solid Försäkringsaktiebolag, took up her position at the Extraordinary General |
| Meeting on 28 June 2021 Lisen Thulin Board member of Solid Försäkringsaktiebolag, took up her position at the Extraordinary General | |
| Meeting on 28 June 2021 |
Remuneration of key individuals
In accordance with a separate bonus agreement linked to the listing process, a transaction bonus of KSEK 850 was paid to CEO Marcus Tillberg in December. There were no other material changes to the scope of remuneration and benefits for senior executives during the period.
The table below shows financial instruments measured at fair value, based on their classification in the fair value hierarchy. The different
levels are defined as follows:
Other observable inputs for assets or liabilities other than listed prices included in level 1 directly (i.e., price quotations) or indirectly (i.e., derived from price quotations) (level 2).
Inputs for assets or liabilities that are not based on observable market data (i.e., unobservable inputs) (level 3).
- Listed prices (unadjusted) in active markets for identical assets or liabilities (level 1).
| KSEK | Measurement level |
30 Dec 2021 |
31 Dec 2020 |
|---|---|---|---|
| Financial assets at fair value through profit or loss | |||
| Bonds and other interest-bearing securities | 1 | 603,833 | 523,298 |
| Listed shares | 1 | 78,788 | 98,207 |
| Total | 682,621 | 621,505 | |
| Financial liabilities at fair value through profit or loss | |||
| Derivatives | 2 | -660 | -508 |
| Total | -660 | -508 |
| 30 Dec 2021 | 31 Dec 2020 | ||||||
|---|---|---|---|---|---|---|---|
| Assets, KSEK | Amortise d cost* |
Fair value through profit or loss |
Carryin g amou nt |
Amortise d cost* |
Fair value through profit or loss |
Carryin g amou nt |
|
| Financial assets | |||||||
| Shares and participating interests | 78,788 | 78,788 | 98,207 | 98,207 | |||
| Other interest-bearing securities | 603,833 | 603,833 | 523,298 | 523,298 | |||
| Subordinated loans | 200,000 | 200,000 | |||||
| Receivables, direct insurance and reinsurance | 81,042 | 81,042 | 77,493 | 77,493 | |||
| Cash and bank balances and other cash equivalents | 613,193 | 613,193 | 328,253 | 328,253 | |||
| Prepaid expenses and accrued income | 1,031 | 1,031 | 1,214 | 1,214 | |||
| Total financial assets | 694,235 | 683,652 | 1,377,887 | 605,746 | 622,719 | 1,228,465 | |
| Non-financial assets | 237,998 | 253,244 | |||||
| 30 Dec 2021 | 31 Dec 2020 | |||||
|---|---|---|---|---|---|---|
| Liabilities, KSEK | Amortise d cost* |
Fair value through profit or loss |
Carryin g amou nt |
Amortise d cost* |
Fair value through profit or loss |
Carryin g amou nt |
| Financial liabilities | ||||||
| Liabilities, direct insurance and reinsurance | 158,712 | 158,712 | 119,453 | 119,453 | ||
| Derivatives | 660 | 660 | 508 | 508 | ||
| Other liabilities | 5,554 | 5,554 | 63,222 | 63,222 | ||
| Total financial liabilities | 164,266 | 660 | 164,926 | 182,675 | 508 | 183,183 |
| Non-financial liabilities | 635,428 | 604,677 |
* Assets and liabilities are recognised at amortised cost, which is a good approximation of fair value
Basic earnings per share are calculated by dividing the earnings attributable to the company's shareholders by a weighted average number of ordinary shares outstanding for the period. The average number of shares between January and December 2021 amounted to 20,000,000 with a quotient value of SEK 1.5 (1.5). There was no dilutive effect as per 31 December 2021.
| Oct-Dec | Oct-Dec | Jan– | Jan– | |
|---|---|---|---|---|
| 2021 | 2020 | Dec | Dec | |
| 2021 | 2020 | |||
| Net profit for the period, KSEK | 25,329 | -18,125 | 119,980 | 43,372 |
| Average number of shares outstanding in the period | 20,000,000 | 20,000,000 | 20,000,000 | 20,000,000 |
| Basic and diluted earnings per share*, SEK | 1.27 | -0.91 | 6.00 | 2.17 |
* All periods have been calculated based on the current number of shares in Solid Försäkring, i.e. 20,000,000 shares. The number of shares increased from 30,000 to 20,000,000 due to a share split in August 2021.
In connection with the publication of the interim report, CEO Marcus Tillberg and CFO Sofia Andersson will hold a teleconference on 8 February 2022 at 11:00 a.m. CET. To participate in the conference, call +46851999383 or click on the following link https://tv.streamfabriken.com/solid-q4- 2021. Presentation material will be available on Solid's website: https://corporate.solidab.se/en/investors/reports-and-presentations/
The complete year-end report for January to December 2021 will be available on https://corporate.solidab.se/en/investors/reports-and-presentations/
| Future reporting dates | |
|---|---|
| 22 Mar 2022 | 2021 Annual Report |
| 27 Apr 2022 | Fourth quarter 2022 |
| 28 Apr 2022 | 2022 Annual General Meeting |
| 21 Jul 2022 | Second quarter 2022 |
| 25 Oct 2022 | Third quarter 2022 |
This information is such information that Solid Försäkringsaktiebolag (publ) is required to disclose pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out below, on 8 February 2022 at 7:30 a.m. CET.
Marcus Tillberg, CEO, [email protected], +46 703 78 20 65 Sofia Andersson, CFO, [email protected], +46 700 42 11 77 Johan Hähnel, Head of IR, [email protected], +46 705 05 63 34
Landskronavägen 23 Box 220 68 SE-250 22 Helsingborg
Tel: +46 42 38 21 00 www.solidab.se
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