Denmark's Alm. Brand Q2 results hit by one-off charge; lifts FY profit forecast

ALM. Brand A/S

16/07/2026 06:36

Overview
Denmark insurer's Q2 results hit by DKK 700 mln one-off charge after Supreme Court ruling
Excluding one-off, company delivered record insurance service result, driven by Personal Lines growth
Company raised full-year profit before tax guidance by DKK 200 mln on improved profitability

Outlook
Alm. Brand raises full-year profit before tax guidance by DKK 200 mln
Company lifts full-year insurance service result guidance by DKK 100 mln to DKK 1.20-1.40 bln, excluding H2 run-offs
Guidance for investment result raised by DKK 100 mln to DKK 250 mln

Result Drivers
SUPREME COURT RULING - Q2 results impacted by DKK 700 mln one-off reserve strengthening after Danish Supreme Court ruling on workers’ compensation
PERSONAL LINES GROWTH - Revenue growth in Personal Lines of 5.2% supported underlying insurance service result
CLAIMS RATIO IMPROVEMENT - Undiscounted underlying claims ratio improved by 2.0 percentage points, reflecting positive trends in both Personal and Commercial Lines

Company press release: ID:nGNE3cBNl5

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Gross Premium Income
 
DKK 3 bln
 
Q2 EPS
 
DKK 0.02
 
Q2 Net Income
 
DKK 32 mln
 
Q2 Pretax Profit
 
DKK 50 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "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 DKK19.50, about 18.5% above its July 15 closing price of DKK16.45
The stock recently traded at 19 times the next 12-month earnings vs. a P/E of 15 three months ago

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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.)