Topdanmark A/S

Topdanmark half-year report for 2021

16.7.2021 12:00:11 CEST | Topdanmark A/S | Halvårsrapport

Topdanmark half-year report for 2021

16 July 2021

Announcement no. 10/2021

Key features

H1 2021

  • Post-tax profit of DKK 1,157m (H1 2020: DKK 196m)
  • EPS was DKK 13.2 (H1 2020: DKK 2.2)
  • Combined ratio: 83.6 (H1 2020: 85.5)
  • Combined ratio excluding run-off: 85.8 (H1 2020: 87.2)
  • Premiums increased by 4.7% in non-life insurance and decreased by 12.9% in life insurance
  • Profit on life insurance was DKK 258m (H1 2020: DKK 25m (loss))
  • After return on non-life insurance provisions, the investment return was DKK 387m
    (H1 2020: DKK 372m (loss)). 

Q2 2021

  • Post-tax profit of DKK 522m (Q2 2020: DKK 389m)
  • EPS was DKK 5.9 (Q2 2020: DKK 4.4)
  • Combined ratio: 81.2 (Q2 2020: 81.3)
  • Combined ratio excluding run-off profits: 83.6 (Q2 2020: 82.6)
  • Premiums increased by 4.7% in non-life insurance and decreased by 12.7% in life insurance
  • Profit on life insurance was DKK 68m (Q2 2020: DKK 24m)
  • After return on non-life insurance provisions, the investment return was DKK 107m
    (Q2 2020: DKK 57m). 

Model profit forecast 2021

  • The assumed combined ratio for 2021 is improved from 87-88 to 85-86, excluding run-off in H2 2021
  • The assumed premium growth for non-life insurance is improved from 3-4% to 4-5%
  • The model post-tax profit forecast for 2021 is improved from DKK 1,450-1,550m to DKK 1,650-1,750m, excluding run-off in H2 2021.                                           

Other events

  • During H1 2021, inflation within construction materials has been significant, but our procurement efforts provide an effective safeguard against rising claims costs in the short term.
  • Topdanmark has launched an online sales platform for the non-life small enterprises segment.

Conference call

A conference call will be held today at 15:30 (CET) where Peter Hermann, CEO, and Lars Thykier, CFO, will be available for questions based on the half-year 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 8 505 58 368

UK dial-in-number: +44 333 300 9266

US dial-in-number: +1 646 722 4903

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

Direct tel.: +45 4474 4450

 

Lars Thykier

Chief Financial Officer

Direct tel.: +45 4474 3714

 

Robin Hjelgaard Løfgren

Head of Investor Relations

Direct tel.: +45 4474 4017, mobile tel.: +45 2962 1691

Kontakter

Robin Hjelgaard Løfgren

Head of Investor Relations

rho@topdanmark.dk

Om Topdanmark A/S

Topdanmark er et af landets største forsikrings- og pensionsselskaber.

I mere end 100 år har vi hjulpet vores kunder med at passe på det, der betyder mest. Forebygge og begrænse skader. Sikre økonomisk tryghed før og efter pensionsalderen. Til gavn for både mennesker og miljø.

Det gør os til en attraktiv virksomhed – ikke kun for vores kunder, men også for vores medarbejdere, aktionærer og verden omkring os.

Læs mere om Topdanmark på topdanmark.com

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