Brief: Topdanmark Q3 Post-Tax Profit Rises To DKK 357 Mln

Topdanmark A/S

23/10/2020 11:34

Oct 23 (Reuters) - Topdanmark A/S  TOP.CO :
    * Q3 COMBINED RATIO: 89.8 (Q3 2019: 84.9)
    * Q3 POST-TAX PROFIT OF DKK 357M (Q3 2019: DKK 285M)
    * Q3 PROFIT ON LIFE INSURANCE WAS DKK 69M (Q3 2019:DKK 72M).
    * HE ASSUMED COMBINED RATIO FOR 2020 IS IMPROVED FROM 88-89
TO
ABOUT 88, EXCLUDING RUN-OFF IN Q4 2020.
    * PROFIT FORECAST MODEL FOR 2020: ASSUMED PREMIUM GROWTH FOR
NON-LIFE INSURANCE IS IMPROVED FROM 2-3% TO ABOUT 3%.
    * MODEL POST-TAX PROFIT FORECAST FOR 2020 IS IMPROVED FROM
DKK
550-750M TO DKK 750-850M, EXCLUDING RUN-OFF IN Q4 2020.
    * HALF OF DIVIDEND FOR 2019 IS STILL POSTPONED UNTIL AGM IN
MARCH
2021
    * PREMIUM GROWTH IN NON-LIFE OF JUST ABOVE 3%, AND A
COMBINED
RATIO OF ABOUT 90, EXCLUDING RUN-OFF, ARE ASSUMED FOR 2021.
    * ASSUMED COMBINED RATIO FOR 2021 OF ABOUT 90 EXCLUDING
RUN-OFF
IS, COMPARED WITH 2020, NEGATIVELY IMPACTED BY INCREASED
INVESTMENTS IN TOPDANMARK'S EFFICIENCY PROGRAMME (1.0PP) AND BY
LOWER INTEREST RATES (0.3PP).

Source text for Eikon:  ID: 
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