16.7.2021 12:00:11 CEST | Topdanmark A/S |
Halvårsrapport
Topdanmark half-year report for 2021
16 July 2021
Announcement no. 10/2021
Key features
H1 2021
Post-tax profit of DKK 1,157m (H1 2020: DKK 196m)
EPS was DKK 13.2 (H1 2020: DKK 2.2)
Combined ratio: 83.6 (H1 2020: 85.5)
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).
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.
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 half-year report. 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 8 505 58 368
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 the live 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
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 2021.pdf
16.7.2021 12:00:11 CEST | Topdanmark A/S |
Half Year financial report
Topdanmark half-year report for 2021
16 July 2021
Announcement no. 10/2021
Key features
H1 2021
Post-tax profit of DKK 1,157m (H1 2020: DKK 196m)
EPS was DKK 13.2 (H1 2020: DKK 2.2)
Combined ratio: 83.6 (H1 2020: 85.5)
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).
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.
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 half-year report. 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 8 505 58 368
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 the live 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
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 2021.pdf
