Annual General Meeting of Topdanmark on 26 April 2007


26 April 2007
Announcement No. 08/2007


To the Copenhagen Stock Exchange


Annual General Meeting of Topdanmark on 26 April 2007

The Annual General Meeting was held in accordance with the published agenda,
and the Annual Report including the proposal submitted by the Board of
Directors for the appropriation of the result for the financial year was
adopted. 

Accordingly, the AGM adopted the proposal submitted by the Board of Directors
for reducing the Company's share capital by a total of 696,347 shares which had
been bought back during the spring of 2007. The reduction in share capital will
be at a stock market price of DKK 955.41 per share and a total of DKK
665,298,534 will be transferred from the Company's tied-up capital to its free
reserves. 

On 27 April 2007 the reduction in capital will be reported to the Danish
Commerce and Companies Agency and in practice, the cancellation of the shares
will be effected on the expiry of the three-month time limit for filing
objections. After the cancellation the share capital will be DKK 184,400,000. 

Furthermore, the proposal submitted by the Board of Directors for amending the
Articles of Association on convening general meetings, the granting of
authorisation to the Board of Directors to acquire own shares, the granting of
warrants to the Board of Management and other executives and the increase in
the remuneration for the Board of Directors were all adopted. 

All the Board members - Jørgen Ajslev (Industrial Advisor), Anders Knutsen
(Chairman), Jens Maaløe (CEO), Michael Pram Rasmussen (CEO), Annette Sadolin
(Non-executive Director) and Knud J. Vest (Fur Farmer) - were re-elected. 

Ole Døssing Christensen and Luise Hanssing were re-elected by employees as
group representatives in the group election on 27 March 2007 (see announcement
No. 06/2007). Charlotte Hougaard, who was newly elected, joined the Board of
Directors. 

The Board of Directors elected Michael Pram Rasmussen as Chairman and Anders
Knutsen as Deputy Chairman from among its members. 

The Company's auditor, Deloitte, was re-elected.

Topdanmark continues to expect a post-tax profit of DKK 1,200 - 1,130m for 2007
(see announcement No. 04/2007). Given the level of equity prices on 9 March
2007 this profit forecast is based on assumptions including a return on
interest-bearing investments of 4.99% (risk-free forward interest rate plus an
allowance for risk of 0.75 percentage points) and a 7% p.a. return on equity
investments in the rest of the year. Furthermore the assumptions include a
corporation tax rate of 28% and a normalised level of annual storm expenses of
DKK 120m on own account for the remainder of 2007. 

For 2007 Topdanmark continues to expect a share buy-back of around DKK 1,700m.
To date this year Topdanmark has already bought back own shares of DKK 803m,
which leaves a balance of around DKK 897m of the share buy-back programme for
the remainder of the year. 


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