Codan A/S, Annual report 2006


Codan recorded strong growth in gross earned premiums at 6% for 2006 against 3% 
for 2005;   
                                                                    
The combined ratio was 94.7%, unchanged from 2005;                              

The balance on the technical account in general insurance increased by 27% to   
DKK 1,638m against DKK 1,290m in 2005;                                          

Profit after tax was DKK 968m against DKK 1,205m for 2005, taking into account  
adverse value adjustments of DKK 651m (DKK 223m in 2005);                       

For 2007 Codan would expect an improved combined ratio of 92%-94% on a basis    
comparable to 2006;                                                             

In 2007, Codan will change its discounting approach to make it compara­ble with 
other market participants. This change will improve the expected combined ratio 
to a range of 90%-92% and a profit after tax of between DKK 1,570m and DKK      
1,970m for the full year.

Attachments

codan annual accounts 2006 uk .pdf cse 1 2007. 2006 codan uk annual account announcement.pdf