Solid Försäkring (SFAB) Q1 2026 earnings summary

Executive summary

• Gross written premiums increased by 4% year-over-year to KSEK 238,547, with underlying sales up 9% excluding divestments and strong development in the insurance business.

• Profitability improved, with a combined ratio of 88.7% compared to 90.0% last year, well below the <90% target.

• Technical result increased to KSEK 34,353, up 8% excluding allocated investment return.

• Profit before tax fell 29% to KSEK 28,846, mainly due to negative asset management results and volatile financial markets.

• Basic and diluted EPS decreased to SEK 1.24 (from 1.75) year-over-year.

Financial highlights

• Net earned premiums declined 4% to KSEK 261,954, with underlying growth of 3%.

• Asset management result was KSEK -819 (down from 13,125), with total return YTD at 0.0% (1.1%).

• Annualised RoE was 9.4% (down from 14.0%), and RoNAV 10.5% (down from 15.0%).

• Equity at quarter-end was KSEK 942,349, with cash and cash equivalents at KSEK 328,718.

• Profit before tax was 28.8 MSEK, down from 40.6 MSEK year-over-year.

Outlook and guidance

• Continued focus on profitable growth, expanding the partner base, and new partnerships to support future growth.

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

• Dividend policy aims for at least 50% of net profit, subject to SCR target and acquisition plans.