Insurer Alm. Brand rises after 'good' quarterly performance

ALM. Brand A/S

17/08/2023 09:15

** Shares in Alm. Brand  ALMB.CO  rise over 3% after the
Danish insurance and financial services group's "good second
quarter" driven by its Commercial Lines unit
    ** It posted Q2 insurance result of DKK 507 million ($74.03
million), an increase of 34% from last year's DKK 378 million
    ** In July, the company upgraded its outlook for insurance
service result to DKK 1.35-1.45 billion (previously saw DKK
1.2-1.4 billion)
    ** Alm. Brand said its performance was driven by Commercial
Lines, in which the energy segment had a particularly strong
quarter with no major claims 
    ** It also said it is starting to see the results of
profitability-enhancing measures

     ($1 = 6.8490 Danish crowns)

 (Reporting by Marta Frackowiak)
 ((marta.frackowiak@thomsonreuters.com))