Brief: Topdanmark Q4 Pre-Tax Profit At DKK 213 Mln, Below Estimates

Topdanmark A/S

23/01/2024 07:55

Jan 23 (Reuters) - Topdanmark A/S  TOP.CO :
    * 2024 OUTLOOK: ORGANIC GROWTH IN INSURANCE REVENUE IS ASSUMED TO BE ABOVE 4.5%
    * 2024 OUTLOOK: COMBINED RATIO IS ASSUMED IN THE RANGE OF 82-85 INCLUDING RUN-OFF
    * CLIMATE CHANGE AND INCREASINGLY EXTREME WEATHER  CONTINUED TO AFFECT OUR PRIVATE,
AGRICULTURAL
AND  COMMERCIAL CUSTOMERS
    * 2024 OUTLOOK: PROFIT FORECAST FOR 2024 AMOUNTS TO DKK 1,150-1,425M AFTER TAX AND INCLUDING
RUN-OFF
    * IN THE PAST YEAR, WE HAVE SEEN A 5% INCREASE  OF SEVERE INJURIES IN WORKERS’ COMPENSATION
    * BOD WILL RECOMMEND DISTRIBUTION OF DIVIDEND OF DKK 1,035M, REPRESENTING DKK 11.5 PER
SHARE, A
PAY-OUT RATIO OF 98.4, A DIVIDEND YIELD OF 3.6
    * 2023 WAS MARKED BY A HIGH LEVEL  OF WEATHER-RELATED AND LARGE-SCALE CLAIMS AS WELL AS  A
RISING
CLAIMS FREQUENCY WITHIN MOTOR INSURANCE
    * REINSURANCE MARKETS WERE HARD, AFFECTING  BOTH 2023 AND FUTURE YEARS
    * Q4 COMBINED RATIO 91.8% (COMPANY COMPILED CONSENUS 88.5%)
    * Q4 PRE-TAX PROFIT DKK 213 MILLION (COMPANY COMPILED CONSENUS DKK 318 MILLION)

Source text: https://mfn.se/nir/a/topdanmark/topdanmark-annual-results-2023-930147e7
Further company coverage:  TOP.CO 

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