The year in brief

• 2022 marked the most challenging year ever with more than 50 MEUR in claims in our property programme. Our business set-up has provided robust protection and limited our risk to a manageable level.
• The claims situation caused huge increase in rates when it was time for the annual policy renewals. Thanks to long and trustful partnerships, we were still able to achieve good results.
• The number of global natural disaster losses is increasing. Only part of these losses is insured because there is globally not enough insurance capacity available. To close this gap, Ikano Re started to reinsure worldwide natural catastrophes not related to IKEA. Despite the second highest natural disaster claim in history (Hurricane Ian), we expect to see a positive result for the first year of our participation.
• We put sustainability at the heart of everything we do. As part of this, we started our well-being analytics journey with Ingka.
• We continue to develop our home insurance initiative with IKEA to make home a safer place for the many.
• The war in Ukraine affected the whole insurance industry. The Advisory team worked hard to assure local insurance solutions to protect IKEA and their co-workers.
• Despite market and claims related challenges, we delivered a very strong financial result in 2022.