Brief: Topdanmark Q1 Net Profit At DKK 439 Mln, Above Estimates

Topdanmark A/S

25/04/2019 13:49

April 25 (Reuters) - Topdanmark A/S  TOP.CO :
    * REG-TOPDANMARK INTERIM REPORT FOR Q1 2019
    * Q1 COMBINED RATIO 80.1 PERCENT (REUTERS POLL 86.1 PERCENT)
    * Q1 NET PROFIT DKK 439 MILLION (REUTERS POLL DKK 299
MILLION)
    * Q1 PREMIUMS INCREASED 2.6% IN NON-LIFE INSURANCE AND 12.8%
IN
LIFE INSURANCE
    * PROFIT FORECAST MODEL FOR 2019:  ASSUMED PREMIUM GROWTH
FOR
NON-LIFE INSURANCE CONTINUES TO BE HIGHER THAN GROWTH OF 1.7% IN
2018
    * POST-TAX PROFIT FORECAST MODEL FOR 2019 IS UPGRADED FROM
DKK
1,000-1,100M TO DKK 1,250-1,350M, EXCLUDING RUN-OFF IN Q2-Q4
2019
    * IN Q1 2019, TOPDANMARK HAS A CONTINUOUSLY GROWING NUMBER
OF
CUSTOMERS IN THE PERSONAL, AGRICULTURAL AND SME MARKETS
    * IMPROVED CLAIMS TREND IN Q1 2019 IS PRIMARILY DUE TO LOWER
LEVEL
OF CLAIMS IN MOTOR INSURANCE DUE TO A MILD WINTER AND A LOWER
LEVEL OF THEFT CLAIMS AND FIRE CLAIMS

Source text for Eikon:  ID:nGNE1RlhNL 
Further company coverage:  TOP.CO 

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