The Board of Directors of Topdanmark has today adopted the Annual Report for
2006.
Key features:
• Post-tax profit for 2006 increased 45.9% to DKK 1,692m (pre-tax: DKK 2,223m).
• Post-tax profit per share increased 53.0% to DKK 88.3.
• The profit represented a 39.4% post-tax return on shareholders' equity
(pre-tax: 51.8%).
• Premium income increased 4.7% in non-life insurance and 23.7% in life
insurance.
• The expense ratio declined 0.2 of a percentage point to 14.6%.
• The combined ratio declined 4.9 percentage points (2.8 percentage points
excluding the storm in 2005) to 86.0%.
• Topdanmark expects post-tax profit to be DKK 1,200 - 1,300m in 2007 and the
combined ratio just over 88%.
• Topdanmark expects the share buy-back programme to be DKK 1,700m for 2007
including DKK 450m transferred from 2006 giving a total “yield” for the year of
10.1%.
• It is recommended that this Annual Report is read together with
www.topdanmark.comwhich provides detailed and supplementary information.
• On www.topdanmark.com Presentations a webcast is available in which
Topdanmark's CEO, Poul Almlund, presents the financial highlights and comments
on the forecast.
• Based on the Annual Report and the webcast, a conference call will be held
today at 15:30 (CET) when Poul Almlund, CEO, and Christian Sagild, Group
Managing Director, will be available for questions. The call will be conducted
in English.
In order to access the conference call, please phone
UK dial in number: +44 (0) 20 7162 0025
US dial in number: +1 334 323 6201
5 - 10 minutes before the conference asking the operator to connect you to the
Topdanmark conference call.
Please direct any queries to:
Poul Almlund, Chief Executive Officer
Direct tel.: +45 4474 3453
Christian Sagild, Group Managing Director
Direct tel.: +45 4474 4450
Steffen Heegaard, Communication and IR Manager
Direct tel.: +45 4474 4017, Mobile: +45 4025 3524
Read the complete report in the attached file
