Brief: Topdanmark Q1 Post-Taxprofit Of DKK 635 Mln

Topdanmark A/S

26/04/2021 11:24

April 26 (Reuters) - Topdanmark A/S  TOP.CO :
    * Q1 POST-TAXPROFIT OF DKK 635M (Q1 2020: DKK 193M (LOSS))
    * Q1 COMBINED RATIO: 85.9 (Q1 2020: 89.8)
    * POST-TAX MODEL PROFIT FORECAST FOR 2021 HAS BEEN IMPROVED
FROM
DKK 1,000-1,100M TO DKK 1,450-1,550M, EXCLUDING RUN-OFF IN
Q2-Q4.
    * 2021 EXPECTED PREMIUM GROWTH IN NON-LIFE HAS BEEN IMPROVED
FROM
JUST ABOVE 3% TO 3-4%.
    * MODEL PROFIT FORECAST 2021: ASSUMED COMBINED RATIO FOR
2021 HAS
BEEN IMPROVED FROM 89-90 TO 87-88, EXCLUDING RUN-OFF IN Q2-Q4.
    * 2021 ASSUMED EXPENSE RATIO HAS BEEN REDUCED FROM AROUND
16% TO
JUST BELOW 16%
    * EFFICIENCY PROGRAMME IS STILL EXPECTED TO GENERATE ANNUAL
GROSS
EFFICIENCY GAINS OFDKK 500M IN 2025 WITH A NET IMPACT OF DKK 20M
IN 2021.

Source text for Eikon:  ID:nNDLmV55z 
Further company coverage:  TOP.CO 

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