Brief: Topdanmark Q3 Net Profit Down At DKK 285 Million

Topdanmark A/S

24/10/2019 11:07

Oct 24 (Reuters) - Topdanmark A/S  TOP.CO :
    * REG-TOPDANMARK INTERIM REPORT FOR Q1-Q3 2019
    * REG-TOPDANMARK INTERIM REPORT FOR Q1-Q3 2019
    * Q3 NET PROFIT DKK 285 MILLION VERSUS DKK 459 MILLION YEAR
AGO
    * Q3 COMBINED RATIO 84.9% VERSUS 81.6% YEAR AGO
    * ASSUMED COMBINED RATIO FOR 2019 IMPROVED FROM 85-86 TO
84-85,
EXCLUDING RUN-OFF IN Q4 2019
    * ASSUMED COMBINED RATIO FOR 2020 IS NEGATIVELY IMPACTED BY
1.6PP
DUE TO LOWER INTEREST RATES.
    * ASSUMPTIONS FOR 2020:  PREMIUM GROWTH IN NON-LIFE ON SAME
LEVEL
AS IN 2019, AND A COMBINED RATIO OF AROUND 90, EXCLUDING
RUN-OFF, ARE ASSUMED FOR 2020
    * PROFIT FORECAST MODEL FOR 2019 * ASSUMED COMBINED RATIO
FOR 2019
IMPROVED FROM 85-86 TO 84-85, EXCLUDING RUN-OFF IN Q4 2019
    * COMPARED WITH ASSUMED COMBINED RATIO OF 89-90 EXCLUDING.
RUN-OFF
FOR 2019 IN Q3 2018 REPORT, ASSUMED COMBINED RATIO FOR 2020 IS
NEGATIVELY IMPACTED BY 1.6PP DUE TO LOWER INTEREST RATES
    * ASSUMPTIONS FOR 2020: COMPARED WITH ASSUMED COMBINED RATIO
OF
89-90 EXCLUDING. RUN-OFF FOR 2019 IN Q3 2018 REPORT, ASSUMED
COMBINED RATIO FOR 2020 IS NEGATIVELY IMPACTED BY 1.6PP DUE TO
LOWER INTEREST RATES
    * PROFIT FORECAST MODEL FOR 2019 ASSUMED PREMIUM GROWTH FOR
NON-LIFE INSURANCE CONTINUES TO BE HIGHER THAN 1.7% GROWTH IN
2018
    * POST-TAX PROFIT FORECAST MODEL FOR 2019 IS UPGRADED FROM
DKK
1,250-1,350M TO DKK 1,300-1,400M, EXCLUDING RUN-OFF IN Q4 2019

Source text for Eikon:  ID:nGNE7y7d3Z 
Further company coverage:  TOP.CO 

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