Trading in Topdanmark shares by insiders


27 March 2007
Trading report No. 03/2007


To the Copenhagen Stock Exchange 



Trading in Topdanmark shares by insiders

In accordance with Section 28(a) of the Danish Securities Trading Act,
Topdanmark is required to publish details of the transactions in Topdanmark's
shares and related securities effected by senior management and their connected
persons. 

The following has been reported to Topdanmark:

Name: Michael Pram Rasmussen
Reason: Chairman of the Board of Directors
Issuer: Topdanmark A/S
ISIN code: 1025953
Designation: Shares
Transaction: Subscription upon exercise of warrants
Trade date: 26 March 2007
Market: Copenhagen Stock Exchange
Number: 39,618
Share price (DKK): 42,491,097

Name: Michael Pram Rasmussen
Reason: Chairman of the Board of Directors
Issuer: Topdanmark A/S
ISIN code: 1025953
Designation: Shares
Transaction: Sale
Trade date: 26 March 2007
Market: Copenhagen Stock Exchange
Number: 39,618
Share price (DKK): 42,491,097
Pre-tax net gain after strike (DKK): 28,247,634


Name: Anders Knutsen
Reason: Deputy Chairman of the Board of Directors
Issuer: Topdanmark A/S
ISIN code: 1025953
Designation: Shares
Transaction: Exercise of share options
Trade date: 26 March 2007
Market: Copenhagen Stock Exchange
Number: 1,736
Share price (DKK): 1.861,895

Name: Anders Knutsen
Reason: Deputy Chairman of the Board of Directors
Issuer: Topdanmark A/S
ISIN code: 1025953
Designation: Shares
Transaction: Sale
Trade date: 26 March 2007
Market: Copenhagen Stock Exchange
Number: 1,736
Share price (DKK): 1.861,895
Pre-tax net gain after strike (DKK): 1,493,280


Name: Knud J. Vest
Reason: Member of the Board of Directors
Issuer: Topdanmark A/S
ISIN code: 1025953
Designation: Shares
Transaction: Exercise of share options
Trade date: 26 March 2007
Market: Copenhagen Stock Exchange
Number: 1,314
Share price (DKK): 1.409,291

Name: Knud J. Vest
Reason: Member of the Board of Directors
Issuer: Topdanmark A/S
ISIN code: 1025953
Designation: Shares
Transaction: Sale
Trade date: 26 March 2007
Market: Copenhagen Stock Exchange
Number: 1,314
Share price (DKK): 1.409,291
Pre-tax net gain after strike (DKK): 1,185,228


Name: Poul Almlund
Reason: CEO
Issuer: Topdanmark A/S
ISIN code: 1025953
Designation: Shares
Transaction: Subscription upon exercise of warrants
Trade date: 26 March 2007
Market: Copenhagen Stock Exchange
Number: 18,829
Share price (DKK): 20,194,479

Name: Poul Almlund
Reason: CEO
Issuer: Topdanmark A/S
ISIN code: 1025953
Designation: Shares
Transaction: Sale
Trade date: 26 March 2007
Market: Copenhagen Stock Exchange
Number: 18,829
Share price (DKK): 20,194,479
Pre-tax net gain after strike (DKK): 13,425,077


Name: Christian Sagild
Reason: Group Managing Director
Issuer: Topdanmark A/S
ISIN code: 1025953
Designation: Shares
Transaction: Exercise of share options
Trade date: 26 March 2007
Market: Copenhagen Stock Exchange
Number: 14,053
Share price (DKK): 15,072,124

Name: Christian Sagild
Reason: Group Managing Director
Issuer: Topdanmark A/S
ISIN code: 1025953
Designation: Shares
Transaction: Sale
Trade date: 26 March 2007
Market: Copenhagen Stock Exchange
Number: 14,053
Share price (DKK): 15,072,124
Pre-tax net gain after strike (DKK): 12,500,806


Name: Kim Bruhn-Petersen
Reason: Group Managing Director
Issuer: Topdanmark A/S
ISIN code: 1025953
Designation: Shares
Transaction: Subscription upon exercise of warrants
Trade date: 26 March 2007
Market: Copenhagen Stock Exchange
Number: 9,000
Share price (DKK): 9,652,680

Name: Kim Bruhn-Petersen
Reason: Group Managing Director
Issuer: Topdanmark A/S
ISIN code: 1025953
Designation: Shares
Transaction: Sale
Trade date: 26 March 2007
Market: Copenhagen Stock Exchange
Number: 9,000
Share price (DKK): 9,652,680
Pre-tax net gain after strike (DKK): 6,417,000


Please direct any queries to:
Steffen Heegaard, Communication and IR Manager
Mobile: +45 4025 3524