Solid FAB Q3 technical result edges up, combined ratio improves
Solid FAB Q3 technical result edges up, combined ratio improves
Overview
Sweden non-life insurer's Q3 gross written premiums were flat yr/yr
Q3 technical result rose slightly from prior year
Combined ratio improved to 86.8% from 87.6% in Q3
Outlook
Company did not provide specific guidance for future quarters or full-year results in the press release
Result Drivers
TECHNICAL RESULT - Co said technical result improved slightly, contributing to profitability
COMBINED RATIO - Co said improved combined ratio supported earnings in Q3
ASSET MANAGEMENT - Co reported lower asset management result compared to prior year
Company press release: ID:nMFN68g8qn
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Gross Written Premiums |
| SEK 263.77 mln |
|
Q3 Basic EPS |
| SEK 2.35 |
|
Q3 Combined Ratio |
| 86.80% |
|
Q3 Technical Result |
| SEK 39.99 mln |
|
Analyst Coverage
The one available analyst rating on the shares is "hold"
The average consensus recommendation for the multiline insurance & brokers peer group is "buy."
Wall Street's median 12-month price target for Solid FAB is SEK120.00, about 6.4% above its October 22 closing price of SEK112.80
The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 12 three months ago
Reuters Recommended Reads
Oct 21 - Norway's Protector Forsikring Q3 premiums rise 29%
Oct 23 - Norway's Gjensidige Q3 insurance revenue rises
Oct 22 - Selective Insurance Q3 net income rises on improved underwriting performance
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)