TOPDANMARK INTERIM REPORT FOR Q1-Q3 2021
TOPDANMARK INTERIM REPORT FOR Q1-Q3 2021
21 October 2021
Announcement no. 13/2021
Highlights
Q1-Q3 2021
- Post-tax profit of DKK 1,513m (Q1-Q3 2020: DKK 553m)
- EPS was DKK 17.2 (Q1-Q3 2020: DKK 6.3)
- Combined ratio: 84.3 (Q1-Q3 2020: 87.0)
- Combined ratio excluding run-off: 86.4 (Q1-Q3 2020: 88.5)
- Premiums increased by 4.6% in non-life insurance and decreased by 9.4% in life insurance.
- Profit on life insurance was DKK 371m (Q1-Q3 2020: DKK 44m).
- After return on non-life insurance provisions, the investment return was DKK 395m
(Q1-Q3 2020: DKK 214m (loss)).
Q3 2021
- Post-tax profit of DKK 356m (Q3 2020: DKK 357m)
- EPS was DKK 4.0 (Q3 2020: DKK 4.1)
- Combined ratio: 85.7 (Q3 2020: 89.8)
- Combined ratio excluding run-off profits: 87.6 (Q3 2020: 91.2)
- Premiums increased by 4.4% in non-life insurance and decreased by 0.7% in life insurance.
- Profit on life insurance was DKK 113m (Q3 2020: DKK 69m).
- After return on non-life insurance provisions, the investment return was DKK 8m (Q3 2020: DKK 158m).
Profit forecast model for 2021
- The assumed combined ratio for 2021 is narrowed from 85-86 to 85-85.5, excluding run-off in Q4 2021.
- The assumed premium growth for non-life is narrowed from 4-5% to 4-4.5%.
- The post-tax profit forecast for 2021 is improved from DKK 1,650-1,750m to DKK 1,750-1,800m, excluding run-off in Q4 2021.
Assumptions for 2022
- Premium growth in non-life of 4-5.5%, and a combined ratio of 86-89, excluding run-off, are assumed for 2022.
Conference call
A conference call will be held today at 15:30 (CET) where Peter Hermann, CEO, and Lars Kufall Beck, CFO, will be available for questions based on the report. The call will be conducted in English.
To participate in the conference call, please call:
DK dial-in-number: +45 78 72 32 52
SE dial-in-number: +46 8 50 55 83 73
UK dial-in-number: +44 333 300 9031
US dial-in-number: +1 646 722 4956
10-15 minutes before the conference and ask the operator to connect you to the Topdanmark conference call – or listen to the live transmission of the call.
Please direct any queries to:
Peter Hermann
Chief Executive Officer
Lars Kufall Beck
Chief Financial Officer
Robin Hjelgaard Løfgren
Head of Investor Relations
Direct tel.: +45 4474 4017, mobile tel.: +45 2962 1691
Kontakter
Om Topdanmark A/S
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