Denmark's Alm. Brand Q3 insurance revenue rises on Personal Lines unit strength

ALM. Brand A/S

28/10/2026 06:48

Overview
Denmark insurer's Q3 insurance revenue rose 1.6%, driven by Personal Lines growth
Q3 insurance service result hit record high, helped by lower claims and run-off gains
Company to cut 85 jobs in October to improve efficiency, with costs in Q4

Outlook
Alm. Brand raises 2026 insurance service result guidance to DKK 1.50-1.60 bln, excluding Q4 run-offs
Company lowers 2026 investment result guidance to around DKK 150 mln from DKK 250 mln
Alm. Brand expects non-recurring costs of about DKK 40 mln in Q4 2026 from workforce reduction

Result Drivers
LOWER CLAIMS - Co said lower weather-related and major claims contributed to record insurance service result
RUN-OFF GAINS - Run-off gains, mainly from workers’ compensation and property insurance, boosted quarterly results
COMMERCIAL LINES PROFITABILITY FOCUS - Decline in Commercial Lines premium income reflected ongoing efforts to improve profitability

Company press release: ID:nGNE3XPcS

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Net Income
 
DKK 397 mln
 
Q3 Pretax Profit
 
DKK 544 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the property & casualty insurance peer group is "buy"
Wall Street's median 12-month price target for ALM. Brand A/S is DKK19.30, about 9.2% above its October 27 closing price of DKK17.67
The stock recently traded at 17 times the next 12-month earnings vs. a P/E of 20 three months ago

Reuters Recommended Reads
Oct 26 - Hartford Insurance Q3 core EPS beats estimates; dividend raised
Oct 27 - Arch Capital Q3 net income falls, catastrophe losses rise
Oct 26 - Insurance brokerage Brown & Brown's Q3 revenue misses estimates

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)