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INSR - Insr Insurance ASA News Story

NOK0.41 0.0  2.8%

Last Trade - 14/05/21

Sector
Financials
Size
Micro Cap
Market Cap £5.10m
Enterprise Value £-112k
Revenue £68.1m
Position in Universe 1724th / 1832

BRIEF-Insr Insurance Group ASA - Updates On Its Insurance Wind-Down Process And Financial Outlook

Wed 16th December, 2020 1:02pm
Dec 16 (Reuters) - Insr Insurance Group ASA  INSN.OL :
    * INSR : TRADING UPDATE
    * INSR INSURANCE GROUP ASA - UPDATES ON ITS INSURANCE WIND-DOWN PROCESS AND FINANCIAL
OUTLOOK
    * INSR INSURANCE GROUP ASA - AN UPDATED FINANCIAL FORECAST, STILL CARRYING SUBSTANTIAL
UNCERTAINTY, IMPLIES THAT TIER 1 LOAN WILL ALMOST CERTAINLY BE COMPLETELY WRITTEN OFF,
SUPPORTING EQUITY WITH NOK 75 MN IN 2021
    * INSR INSURANCE GROUP ASA - ESTIMATED FINAL VALUE TO SHAREHOLDERS, GIVEN INFORMATION
CURRENTLY
AVAILABLE, IS REDUCED TO AROUND NOK 25 MN
    * INSR INSURANCE GROUP ASA - SOLVENCY POSITION AT END OF 2020 IS EXPECTED TO IMPROVE TO A
COMFORTABLE MARGIN ABOVE 100% REQUIREMENT
    * INSR INSURANCE GROUP ASA - RATIO IS FORECAST TO SLIDE DOWNWARDS OVER FOLLOWING QUARTERS
AND
ACTIONS MUST BE TAKEN TO ENSURE THAT COMPANY DOES NOT BREACH SOLVENCY REQUIREMENTS TOWARDS END
OF 2021

Source text for Eikon:  ID:nWkr6LMcbv 
Further company coverage:  INSN.OL 

 (Gdansk Newsroom)
 ((Gdansk.newsroom@thomsonreuters.com; +48 58 778 51 10;))
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