Jan 22, 2021 / 11:00AM GMT
Presentation
Jan 22, 2021 / 11:00AM GMT
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Corporate Participants
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* Steffen Heegaard
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Steffen Heegaard -
Welcome to the presentation of Topdanmark's results for 2020.
Profits for 2020 was DKK 1.124 billion, down from DKK 1.547 billion in 2019, but better than it between DKK 750 million and DKK 850 million, which was assumed for 2020 in the Q3 report. The combined ratio was 86.5% compared with 83.7%, mostly caused by lower runoff profits and by a higher claims trend on house insurance.
Premiums increased by 3.6% in non-life, but decreased by 1.1% in life. For 2021, the assumed combined ratio has been improved from around 90% to between 89% and 90%, excluding run-off.
The profit forecast for 2021 amounts to between DKK 1 billion and DKK 1.1 billion, excluding run-off. As announced in the Q3 report, Topdanmark has upscaled the efficiency program. The efficiency program is expected to generate annual gross efficiency gains of around DKK 500 million in 2025.
Finally, the Board
Q4 2020 Topdanmark A/S Pre-Recorded Earnings Presentation Transcript
Feb 15, 2024
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