15.7.2022 08:05:58 CEST | Topdanmark A/S |
Halvårsrapport
TOPDANMARK HALF-YEAR REPORT FOR 2022
15 July 2022,
Announcement No. 14/2022
Highlights
H1 2022
Profit after tax of DKK 380m (H1 2021: DKK 1,157m)
EPS was DKK 4.3 (H1 2021: DKK 13.2)
Combined ratio: 83.1 (H1 2021: 81.3)
Combined ratio excluding run-off: 84.9 (H1 2021: 83.6)
Premiums increased by 3.9% in non-life insurance.
After return on non-life insurance provisions, the investment return was DKK 437m (loss) (H1 2021: DKK 340m).
Profit from discontinued operations was DKK 117m after tax (H1 2021: DKK 200m).
Life insurance premiums (incl. investment contracts, and illness and accident) in discontinued operations increased by 6.3%.
Q2 2022
Profit after tax of DKK 265m (Q2 2021: DKK 522m)
EPS was DKK 3.0 (Q2 2021: DKK 5.9)
Combined ratio: 79.4 (Q2 2021: 79.3)
Combined ratio excluding run-off: 81.1 (Q2 2021: 81.4)
Premiums increased by 3.7% in non-life insurance.
After return on non-life insurance provisions, the investment return was DKK 295m (loss) (Q2 2021: DKK 112m).
Profit from discontinued operations was DKK 107m after tax (Q2 2021: DKK 43m).
Life insurance premiums (incl. investment contracts, and illness and accident) in discontinued operations increased by 1.7%.
Profit forecast model for 2022
The assumed combined ratio for 2022 has been improved from 83-86 to 82-84.5, excluding run-off in H2.
The profit forecast for 2022 has been lowered from DKK 2,250-2,500m to DKK 2,100-2,350m after tax, excluding run-off in H2 but including the expected net gain of DKK 1.2bn from the divestment of Topdanmark Liv Holding A/S (closing assumed as at 31 December 2022).
The expected premium growth in non-life is unchanged at 3-4.5%.
Other events
The divestment of Topdanmark Liv Holding A/S is progressing according to plan and is still expected to close in the second half of 2022.
As the first Danish-registered financial company, Topdanmark has joined the Science Based Targets initiative, committing to a net-zero ambition by 2050.
Conference call
A conference call will be held today at 13:00 (CEST) in which Peter Hermann, CEO, and Lars Kufall Beck, 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 76 84 90
SE dial-in-number: +46 4 0682 0620
UK dial-in-number: +44 203 769 6819
US dial-in-number: +1 646 787 0157
(Pin code for all callers: 587062)
10-15 minutes before the conference and ask the operator to connect you to the Topdanmark conference call – or listen to the live transmission of the call.
Please direct any queries to:
Lars Kufall Beck, CFO
Direct tel: +45 44 74 30 28
Robin Hjelgaard Løfgren, Head of Investor Relations
Direct tel.: +45 4474 4017, mobile tel.: +45 2962 1691
Topdanmark A/SCVR no. 78040017Borupvang 42750 Ballerup
Kontakter
Robin Hjelgaard Løfgren, Head of Investor Relations, +4544744017, +4529621691, rho@topdanmark.dk
Om Topdanmark A/S
Topdanmark er et af landets største forsikrings- og pensionsselskaber.
I mere end 100 år har vi hjulpet vores kunder med at passe på det, der betyder mest. Forebygge og begrænse skader. Sikre økonomisk tryghed før og efter pensionsalderen. Til gavn for både mennesker og miljø.
Det gør os til en attraktiv virksomhed – ikke kun for vores kunder, men også for vores medarbejdere, aktionærer og verden omkring os.
Læs mere om Topdanmark på topdanmark.com
Vedhæftninger
Topdanmark H1 Report 2022.pdf
15.7.2022 08:05:58 CEST | Topdanmark A/S |
Half Year financial report
TOPDANMARK HALF-YEAR REPORT FOR 2022
15 July 2022,
Announcement No. 14/2022
Highlights
H1 2022
Profit after tax of DKK 380m (H1 2021: DKK 1,157m)
EPS was DKK 4.3 (H1 2021: DKK 13.2)
Combined ratio: 83.1 (H1 2021: 81.3)
Combined ratio excluding run-off: 84.9 (H1 2021: 83.6)
Premiums increased by 3.9% in non-life insurance.
After return on non-life insurance provisions, the investment return was DKK 437m (loss) (H1 2021: DKK 340m).
Profit from discontinued operations was DKK 117m after tax (H1 2021: DKK 200m).
Life insurance premiums (incl. investment contracts, and illness and accident) in discontinued operations increased by 6.3%.
Q2 2022
Profit after tax of DKK 265m (Q2 2021: DKK 522m)
EPS was DKK 3.0 (Q2 2021: DKK 5.9)
Combined ratio: 79.4 (Q2 2021: 79.3)
Combined ratio excluding run-off: 81.1 (Q2 2021: 81.4)
Premiums increased by 3.7% in non-life insurance.
After return on non-life insurance provisions, the investment return was DKK 295m (loss) (Q2 2021: DKK 112m).
Profit from discontinued operations was DKK 107m after tax (Q2 2021: DKK 43m).
Life insurance premiums (incl. investment contracts, and illness and accident) in discontinued operations increased by 1.7%.
Profit forecast model for 2022
The assumed combined ratio for 2022 has been improved from 83-86 to 82-84.5, excluding run-off in H2.
The profit forecast for 2022 has been lowered from DKK 2,250-2,500m to DKK 2,100-2,350m after tax, excluding run-off in H2 but including the expected net gain of DKK 1.2bn from the divestment of Topdanmark Liv Holding A/S (closing assumed as at 31 December 2022).
The expected premium growth in non-life is unchanged at 3-4.5%.
Other events
The divestment of Topdanmark Liv Holding A/S is progressing according to plan and is still expected to close in the second half of 2022.
As the first Danish-registered financial company, Topdanmark has joined the Science Based Targets initiative, committing to a net-zero ambition by 2050.
Conference call
A conference call will be held today at 13:00 (CEST) in which Peter Hermann, CEO, and Lars Kufall Beck, 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 76 84 90
SE dial-in-number: +46 4 0682 0620
UK dial-in-number: +44 203 769 6819
US dial-in-number: +1 646 787 0157
(Pin code for all callers: 587062)
10-15 minutes before the conference and ask the operator to connect you to the Topdanmark conference call – or listen to the live transmission of the call.
Please direct any queries to:
Lars Kufall Beck, CFO
Direct tel: +45 44 74 30 28
Robin Hjelgaard Løfgren, Head of Investor Relations
Direct tel.: +45 4474 4017, mobile tel.: +45 2962 1691
Topdanmark A/SCVR no. 78040017Borupvang 42750 Ballerup
Contacts
Robin Hjelgaard Løfgren, Head of Investor Relations, +4544744017, +4529621691, rho@topdanmark.dk
About Topdanmark A/S
Topdanmark is one of the country’s largest insurance and pension companies.
For more than 100 years, we have helped our customers care for what matters the most. Prevent and limit damages. Secure financial security before and after retirement. For the benefit of both people and the environment.
It makes us an attractive company – not only for our customers, but also for our employees, shareholders and the world around us.
Find more information about Topdanmark on topdanmark.com
Attachments
Topdanmark H1 Report 2022.pdf
