As previously announced in a press release, Resurs Holding AB (“Resurs”) proposed that an Extraordinary General Assembly be held on November 2, 2021 decides to distribute all the shares of Solid Försäkringsaktiebolag (“Solid Försäkring”) to Resurs shareholders. For this reason, Resurs today publishes additional information on distribution and Solid Försäkring in the form of an information brochure, which will be available at www.resursholding.com. In addition, the Board of Directors of Solid Försäkring has set financial targets and a dividend policy, which are set out in the information brochure.
The information brochure presents the background and reasons for the proposed distribution of Solid Försäkring and includes a description of Solid Försäkring and the Resurs Group excluding Solid Försäkring. The information brochure also contains financial objectives and a dividend policy for Solid Försäkring as well as historical financial information for Solid Försäkring and Resurs Group excluding Solid Försäkring.
The purpose of the information brochure is to give shareholders an overview of the activity and financial situation of companies as well as of the distribution and listing process and is intended to serve as a basis for a decision by Resurs shareholders at the Extraordinary General Meeting of November 2, 2021.
Solid Försäkring’s financial goals
Solid Försäkring has the following medium-term financial objectives:
- Annual growth in earned premiums of 4 to 7% excluding acquisitions
- Combined ratio
- Return RoNAV (2) > 14 percent
- SCR coverage ratio> = 150 percent
Solid Försäkring’s dividend policy
In accordance with the dividend policy of the board of directors of Solid Försäkring, the company intends to pay an annual dividend corresponding to at least 50 percent of the net profit for the year from the financial year 2022. The policy dividend is conditional on the SCR coverage ratio objective and the absence of any major acquisitions.
The information brochure, which has been prepared in Swedish and English, will be available at www.resursholding.com/en/extraordinary-general-meeting-2021/.
Sofie Tarring Lindell, CFO & Head of IR, [email protected], +46 73 644 33 95Marcus Tillberg, CEO Solidförsäkringsaktiebolag, [email protected], +46 70 378 20 65
ABOUT SOLID FÖRSÄKRING
Solid Försäkring was founded in 1993 and is today a successful company in the insurance industry. The emphasis is on niche coverage, with the Nordic region as the main market. The company partners with leading retail chains in a variety of industries and has approximately 2.3 million customers in the Nordic region.
IN REGARDS TO HOLDING OF RESURS
Resurs Holding (Resurs), which operates through subsidiaries Resurs Bank and Solid Försäkring, is the leader in retail finance in the Nordic region, offering niche payment solutions, consumer loans and insurance products. Since its creation in 1977, Resurs Bank has established itself as a leading partner for sales-driven payment and loyalty solutions in retail and e-commerce, and Resurs has thus built up a client base of around 6 million private customers in the Nordic countries. Resurs Bank has held a banking license since 2001 and is supervised by the Swedish Financial Supervisory Authority. The Resurs Group operates in Sweden, Denmark, Norway and Finland. At the end of the second quarter of 2021, the Group had 735 employees and a loan portfolio of SEK 31.1 billion. Resurs is listed on Nasdaq Stockholm.
 Net profit for the period (annualized) excluding amortization of tax-adjusted intangible assets as a percentage of adjusted equity excluding intangible assets. Adjusted equity includes the adjusted tax contingency reserve.
(c) Decision 2021. All rights reserved., source Press Releases – English