Brief: Alm. Brand Q3 Pre-Tax Profit Rises To DKK 302 Million

ALM. Brand A/S

04/11/2020 07:39

Nov 4 (Reuters) - ALM. Brand A/S  ALMB.CO :
    * REG-ALM. BRAND A/S - INTERIM REPORT Q3 2020
    * Q3 PRE-TAX PROFIT DKK 302 MILLION VERSUS DKK 162 MILLION
YEAR
AGO
    * EXPECTS TO GENERATE A PRE-TAX PROFIT OF DKK 700-750
MILLION
EXCLUDING RUN-OFF RESULT FOR LAST QUARTER OF YEAR
    * GUIDANCE IS UNCHANGED
    * AMBITION IS NOW TO ACHIEVE:GROWTH IN GROSS PREMIUM INCOME
IN
NON-LIFE INSURANCE OF MORE THAN 3% IN 2021 AND 5% IN 2022
    * AMBITION IS NOW TO ACHIEVE: COMBINED RATIO IN NON-LIFE
INSURANCE
OF BELOW 90 IN 2022;
    * AMBITION IS NOW TO ACHIEVE: GROSS EXPENSE RATIO OF
NON-LIFE
INSURANCE OF ABOUT 16% IN 2022;
    * AMBITION IS NOW TO ACHIEVE: ANNUAL GROWTH IN REGULAR
PREMIUMS IN
LIFE INSURANCE OF 7%.
    * AFTER SALE OF BANK, A NUMBER OF COSTS PREVIOUSLY PAID BY
BANK
WILL BE INCURRED BY GROUP

Source text for Eikon:  ID:nGNEblYdl0 
Further company coverage:  ALMB.CO 

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