TOPDANMARK A/S TOPDANMARK ANNOUNCEMENT OF 2021ANNUAL RESULTS
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, representingDKK 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 ofDKK 2,115m from this year’s profit ofDKK 2,138m , representingDKK 23.5 per share and a pay-out ratio of 98.9, as well as an extra dividend ofDKK 990m , representingDKK 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 ofDKK 70m , corresponding to gross efficiency gains ofDKK 150m and investments ofDKK 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
Conference call
A conference call will be held today at 16:00 (CET) where
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
Please direct any queries to:
Chief Executive Officer
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
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
Attachments
- Topdanmark_Annual Results 2021.pdf
© Ritzau Denmark, source
