Topdanmark A/S : 2021 årsregnskabsmeddelelse Topdanmark A/S (1 MB)

Annual Results 2021

21 January 2022, Announcement No. 03/2022

Topdanmark A/S • Borupvang 4 • DK-2750 Ballerup • Tel [phone] CVR no. 78040017 • [e-mail] • www.topdanmark.com

Contents

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Announcement No. 03/2022 from Topdanmark A/S

Management's review

5 Letter to our shareholders

1. Highlights
2. Financial highlights
3. Results for 2021

1. Results for Q4 2021
2. Non-lifeinsurance in 2021
3. Non-lifeinsurance in Q4 2021

1. Life insurance in 2021

1. Life insurance in Q4 2021
2. Investment activities
3. Solvency calculation and capital requirements
4. Parent company etc.

17 Taxation

1. Efficiency programme

1. New IT systems
2. Profit forecast model for 2022
3. Distribution of dividend for 2021

1. Annual General Meeting

1. Financial calendar

1. Disclaimer

Financial statements for 2021 - Group

1. Income statement
2. Statement of comprehensive income
3. Assets
4. Shareholders' equity and liabilities
5. Cash flow statement
6. Statement of changes in equity
7. Segment information
8. Notes to the financial statements

Financial statements for 2021 - Parent company

31 Income statement

1. Statement of comprehensive income
2. Balance sheet

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Announcement No.03/2022 from Topdanmark A/S

Management's review

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Announcement No. 03/2022 from Topdanmark A/S

Record-strong financial result and solid traction in our strategic agenda

A letter to our shareholders from the Chairman of the Board and the Group CEO

2021 was a very satisfactory year for Topdanmark. We delivered record-strong financial results with a reported net profit of DKK 2,138m or DKK 1,978m before run-off, significantly higher than our original expectation at the beginning of 2021 of DKK 1,000-1,100m before run-off. As a result, the Board of Directors has proposed a record-high total dividend payment of DKK 34.5 per share for 2021. The combined ratio came in at 85.7 before run-off, which outperformed our original expectation of 89-90 before run-off by a clear margin, helped by a good business momentum with a solid premium growth of 4.3% in non-life.

At Topdanmark, we firmly believe that long-term shareholder value is created through engaged and motivated employees, who ensure first-class customer experiences, which in turn create satisfaction and loyalty to the benefit of our shareholders. To that end, we are very pleased to report a historically high employee satisfaction of 80 compared to 78

in 2020. Likewise, we continue to see a stable, high transactional net promoter score (tNPS) in non-life, and an increasing tNPS as well as a top EPSI ranking in life.

A year ago, Topdanmark launched "Sundhedshjælp" (Digital Healthcare) - a free service for customers having two or more products with us. The service gives more than half a million Danes online access to medical consultations every day of the week

from morning till night. The results speak for themselves. 97% of those using the app are more than satisfied, and the loyalty to Topdanmark has been strengthened. At the same time, as a company, we have contributed to solving the well-known social problem that fewer men than women consult their GP. Through Sundhedshjælp, the number of men consulting a GP is the same as the number of women. During 2022, our ambition is to double the number of users who have downloaded the app and registered to use it.

We have rolled out an offer of free health screenings of employees to approx. 55,000 agricultural and commercial life and non-life customers, and the results are good. It is a valued service which has differentiated Topdanmark positively in a competitive market, and data shows that this service has the desired effect in terms of preventing serious illness for the benefit of the individual, the businesses, society, and us as a company.

In 2021, Formålspension (Purpose pension) reached a portfolio amount of DKK 3.6bn. Demand is so high that Formålspension has become the standard recommendation to our new customers. This year, half of the new customers have chosen the purpose "Green transformation", and exactly this investment profile has yielded some of the absolute best returns in the industry throughout the year.

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Announcement No.03/2022 from Topdanmark A/S