Combined ratio excluding run-off: 85.8 (H1 2020: 87.2)
Premiums increased by 4.7% in non-life insurance and decreased by 12.9% in life insurance
Profit on life insurance was DKK 258m (H1 2020: DKK 25m (loss))
After return on non-life insurance provisions, the investment return was DKK 387m (H1 2020: DKK 372m (loss)).
Q2 2021
Post-tax profit of DKK 522m (Q2 2020: DKK 389m)
EPS was DKK 5.9 (Q2 2020: DKK 4.4)
Combined ratio: 81.2 (Q2 2020: 81.3)
Combined ratio excluding run-off profits: 83.6
(Q2 2020: 82.6)
Premiums increased by 4.7% in non-life insurance and decreased by 12.7% in life insurance
Profit on life insurance was DKK 68m (Q2 2020: DKK 24m)
After return on non-life insurance provisions, the investment return was DKK 107m (Q2 2020: DKK 57m).
Conference call
A conference call will be held today at 15:30 (CET) where Peter Hermann, CEO, and Lars Thykier, CFO, will be available for questions based on the results. The call will be conducted in English.
To participate in the conference call, please call: DK dial-in-number: +45 78 72 32 52
SE dial-in-number: +46 8 50 55 8 368
UK dial-in-number: +44 333 300 9266
US dial-in-number: +1 646 722 4903
10-15 minutes before the conference and ask the operator to connect you to the Topdanmark conference call - or listen to thelive transmission of the call.
Please direct any queries to:
Peter Hermann
Chief Executive Officer
Direct tel.: +45 4474 4450
Lars Thykier
Chief Financial Officer
Direct tel.: +45 4474 3714
Robin Hjelgaard Løfgren
Head of Investor Relations
Direct tel.: +45 4474 4017
Mobile tel.: +45 2962 1691
Model profit forecast 2021
The assumed combined ratio for 2021 is improved from 87-88 to 85-86, excluding run-off in H2 2021
The assumed premium growth for non-life insurance is improved from 3-4% to 4-5%
The model post-tax profit forecast for 2021 is improved from DKK 1,450-1,550m to
DKK 1,650-1,750m, excluding run-off in H2 2021.
Other events
During H1 2021, inflation within construction materials has been significant, but our procurement efforts provide an effective safeguard against rising claims costs in the short term.
Topdanmark has launched an online sales platform for the non-life small enterprises segment.
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Announcement No. 10/2021 from Topdanmark A/S
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Topdanmark A/S published this content on 16 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 July 2021 10:23:04 UTC.
Topdanmark A/S is a Denmark-based insurance company engaged in the insurance and pension fund business. The Companyâs activities are divided into such segments, as Personal, and SME (Small and Medium Enterprises) and Industrial. The Personal segment sells policies for individual households in Denmark. The SME and Industrial segment offers policies for Denmark-based SME, agricultural and industrial businesses. The Companyâs private insurance offering includes such insurance products, as home, vehicle, accident, pet, child and life and health insurance, as well as pension funds. Its corporate insurance offering includes property insurance, insurance of goods and equipment, and car insurance, among others. As of December 31, 2012, it had subsidiaries responsible for life and non-life insurance, as well as for asset management, investment and property-related activities.