21.1.2022 12:00:11 CET | Topdanmark A/S |
Årsregnskabsmeddelelse
Topdanmark årsregnskabsmeddelelse 2021
21. januar 2022
Med. nr. 03/2022
Highlights
2021
Post-tax profit of DKK 2,138m (2020: DKK 1,124m)
EPS was DKK 24.3 (2020: DKK 12.9)
Combined ratio: 83.7 (2020: 86.5)
Combined ratio excluding run-off: 85.7 (2020: 88.2)
Premiums increased by 4.3% in non-life insurance and decreased by 5.7% in life insurance.
Profit on life insurance was DKK 503m (2020: DKK 117m).
After return on non-life insurance provisions, the investment return was DKK 604m (2020: DKK 89m).
Q4 2021
Post-tax profit of DKK 625m (Q4 2020: DKK 571m)
EPS was DKK 7.1 (Q4 2020: DKK 6.5)
Combined ratio: 81.8 (Q4 2020: 85.1)
Combined ratio excluding run-off profits: 83.6 (Q4 2020: 87.1)
Premiums increased by 3.7% in non-life insurance and increased by 6.6% in life insurance.
Profit on life insurance was DKK 132m (Q4 2020: DKK 74m).
After return on non-life insurance provisions, the investment return was DKK 209m (Q4 2020: DKK 303m).
Dividend distribution for 2021
The Board of Directors will recommend to the AGM that distribution of a total dividend of DKK 3,105m takes place, representing DKK 34.5 per share, a pay-out ratio of 145.2 and a dividend yield of 9.4. The total dividend is made up of an ordinary dividend of DKK 2,115m from this year’s profit of DKK 2,138m, representing DKK 23.5 per share and a pay-out ratio of 98.9, as well as an extra dividend of DKK 990m, representing DKK 11.0 per share.
Subject to the approval from the AGM, the distribution of dividend will take place immediately after the AGM on 24 March 2022.
Profit forecast model for 2022
Compared with the profit forecast model for 2022 in the Q1-Q3 Report, the assumed combined ratio for 2022 is lowered to 85.5-88 excluding run-off.
The expected premium growth in non-life is unchanged at 4-5.5%.
The post-tax profit forecast model for 2022 amounts to DKK 1,200-1,450m, excluding run-off.
Efficiency programme
In 2021, Topdanmark has made solid progress in its efforts to become more efficient.
As expected, Topdanmark has realised net efficiency gains of DKK 70m, corresponding to gross efficiency gains of DKK 150m and investments of DKK 80m.
In 2022, the gross efficiency gains from the programme are expected to amount to DKK 260m.
The efficiency programme is still expected to deliver gross efficiency gains of DKK 500m in 2025.
Annual General Meeting
The Annual General Meeting will be held on 24 March 2022 at 15:00 (CET) as a fully virtual AGM.
Conference call
A conference call will be held today at 16:00 (CET) where Peter Hermann, CEO, and Lars Kufall Beck, CFO, will be available for questions based on the annual results and the webcast. The call will be conducted in English.
In order to participate in the conference call, please call:
DK dial-in-number: +45 78 72 32 52
SE dial-in-number: +46 8 505 583 55
UK dial-in-number: +44 333 300 9031
US dial-in-number: +1 646 722 4902
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:
Peter Hermann
Chief Executive Officer
Lars Kufall Beck
Chief Financial Officer
Robin Hjelgaard Løfgren
Head of Investor Relations
Direct tel.: +45 4474 4017
Mobile tel.: +45 2962 1691
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_Annual Results 2021.pdf
21.1.2022 12:00:11 CET | Topdanmark A/S |
Financial Statement Release
TOPDANMARK ANNOUNCEMENT OF 2021 ANNUAL RESULTS
21 January 2022
Announcement No. 03/2022
Highlights
2021
Post-tax profit of DKK 2,138m (2020: DKK 1,124m)
EPS was DKK 24.3 (2020: DKK 12.9)
Combined ratio: 83.7 (2020: 86.5)
Combined ratio excluding run-off: 85.7 (2020: 88.2)
Premiums increased by 4.3% in non-life insurance and decreased by 5.7% in life insurance.
Profit on life insurance was DKK 503m (2020: DKK 117m).
After return on non-life insurance provisions, the investment return was DKK 604m (2020: DKK 89m).
Q4 2021
Post-tax profit of DKK 625m (Q4 2020: DKK 571m)
EPS was DKK 7.1 (Q4 2020: DKK 6.5)
Combined ratio: 81.8 (Q4 2020: 85.1)
Combined ratio excluding run-off profits: 83.6 (Q4 2020: 87.1)
Premiums increased by 3.7% in non-life insurance and increased by 6.6% in life insurance.
Profit on life insurance was DKK 132m (Q4 2020: DKK 74m).
After return on non-life insurance provisions, the investment return was DKK 209m (Q4 2020: DKK 303m).
Dividend distribution for 2021
The Board of Directors will recommend to the AGM that distribution of a total dividend of DKK 3,105m takes place, representing DKK 34.5 per share, a pay-out ratio of 145.2 and a dividend yield of 9.4. The total dividend is made up of an ordinary dividend of DKK 2,115m from this year’s profit of DKK 2,138m, representing DKK 23.5 per share and a pay-out ratio of 98.9, as well as an extra dividend of DKK 990m, representing DKK 11.0 per share.
Subject to the approval from the AGM, the distribution of dividend will take place immediately after the AGM on 24 March 2022.
Profit forecast model for 2022
Compared with the profit forecast model for 2022 in the Q1-Q3 Report, the assumed combined ratio for 2022 is lowered to 85.5-88 excluding run-off.
The expected premium growth in non-life is unchanged at 4-5.5%.
The post-tax profit forecast model for 2022 amounts to DKK 1,200-1,450m, excluding run-off.
Efficiency programme
In 2021, Topdanmark has made solid progress in its efforts to become more efficient.
As expected, Topdanmark has realised net efficiency gains of DKK 70m, corresponding to gross efficiency gains of DKK 150m and investments of DKK 80m.
In 2022, the gross efficiency gains from the programme are expected to amount to DKK 260m.
The efficiency programme is still expected to deliver gross efficiency gains of DKK 500m in 2025.
Annual General Meeting
The Annual General Meeting will be held on 24 March 2022 at 15:00 (CET) as a fully virtual AGM.
Conference call
A conference call will be held today at 16:00 (CET) where Peter Hermann, CEO, and Lars Kufall Beck, CFO, will be available for questions based on the annual results and the webcast. The call will be conducted in English.
In order to participate in the conference call, please call:
DK dial-in-number: +45 78 72 32 52
SE dial-in-number: +46 8 505 583 55
UK dial-in-number: +44 333 300 9031
US dial-in-number: +1 646 722 4902
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:
Peter Hermann
Chief Executive Officer
Lars Kufall Beck
Chief Financial Officer
Robin Hjelgaard Løfgren
Head of Investor Relations
Direct tel.: +45 4474 4017
Mobile tel.: +45 2962 1691
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_Annual Results 2021.pdf
