Brief: ALM. Brand Q2 Pre-Tax Profit At DKK 371 Mln

ALM. Brand A/S

20/08/2020 07:51

Aug 20 (Reuters) - ALM. Brand A/S  ALMB.CO :
    * REG-ALM. BRAND A/S - INTERIM REPORT Q2 2020
    * Q2 TOTAL INCOME DKK 2,013 MILLION VERSUS PRELIM DKK DKK
2,013
MILLION REPORTED ON JULY 31
    * Q2 PRE-TAX PROFIT DKK 371 MILLION VERSUS PRELIM DKK 371
MILLION
REPORTED ON JULY 31
    * LOOKING BACK AT PAST SIX MONTHS, OVERALL EFFECT OF
COVID-19 ON
OUR GROUP WAS NEUTRAL
    * NON-LIFE INSURANCE BENEFITTED FROM FEWER AND SMALLER
CLAIMS,
WHILE BANKING MADE A PROVISION FOR A POTENTIAL COVID-19-DERIVED
LOSS IN Q1
    * WE EXPECT CLAIMS EXPERIENCE TO NORMALISE FURTHER IN COMING
MONTHS, AND WE HAVE STILL NOT HAD ANY BANKING CUSTOMERS
EXPERIENCING FINANCIAL DIFFICULTIES AS A RESULT OF COVID-19
    * ALM. BRAND EXPECTS TO GENERATE A PRE-TAX PROFIT OF DKK
750-850
MILLION EXCLUDING RUN-OFF RESULT IN NEXT TWO QUARTERS
    * MAINTAINS EARLIER FINANCIAL TARGETS FOR PERIOD UNTIL 2022

Source text for Eikon:  ID:nGNEXM1w9 
Further company coverage:  ALMB.CO 

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