Fairfdsdsord_årsredovis_2015_enkelsidor (1)-74


2015 has been a year of continued internal changes started in 2014, but also focus on development of our business with existing and new clients. We have seen a year with growth and potential to grow even more. The construction markets in the Nordic region have all been positive for us, even though the Finnish economy has had a negative development. We have grown on all markets, in all client sizes and are showing a profit after a series of bad years. Already last year we indicated that we would see a reduced inflow of new claims. During 2015 we have seen a substantial reduction in new claims and are confident that our risk measures have been correct. We have continued our work with preparations for Solvency 2 and are now ready for the new set of rules and regulations, which will be the same for all insurance companies in the EU from 2016.

Johan Brinkenberg, CEO



The insurance / bond industry in which Nordic Guarantee operates is truly a niche market requiring a niched skillset. As the alternative to the traditional bank guarantee it is a fairly small market but with its main demand and drivers coming from the construction industry it is also a market which is reliable in the long term (albeit cyclical) and long term being a feature that suits Fairford. Analysed properly and with a sound risk selection process we also know that it can be a profitable market in a sustainable way. However, rules and regulations in the financial industry add complexity and costs to the operations and scale will be crucial going forward.



EBITDA graph

Equity Ratio, ROCE

Equity Ratio, ROCE graph