Business
Alm. Brand A/S - Interim Report for Q1 2025
Satisfactory profit leads to DKK 50 million upgrade of guidance for insurance service result The insurance service result for Q1 2025 was a profit of DKK 337 million (Q1 2024: DKK 291 million), corresponding to a combined ratio of 88.2 (Q1 2024: 89.3), driven in particular by sustained growth in Personal Lines, fewer weather-related claims and an improved expense ratio.The guidance for the full-year insurance service result is lifted by DKK 50 million to DKK 1.55-1.75 billion excluding the run-o
About this update from Alm. Brand A/s
Satisfactory profit leads to DKK 50 million upgrade of guidance for insurance service result Rasmus Werner Nielsen (CEO) considers the Q1 performance satisfactory: “In an increasingly unstable world, we’re pleased that we were able to help our customers with some 105,000 claims in the first quarter. We recorded yet another satisfactory quarterly performance, showing that more and more customers are turning to Alm. Brand Group for insurance. Our performance was driven not least by the dedicated efforts we’ve made to lower our costs and thereby further enhance our competitive strength. Moreover, our personal customers were less affected by weather-related events than in the first quarter of 2024, and major claims expenses were below the level normally expected. After completing the divestment of the Energy & Marine business in March, we’re now a fully-focused Danish non-life insurer with a healthy balance between Personal Lines and Commercial Lines. The first quarter also yet again demonstrated that we’re on track to meet the ambitious targets we set in connection with the merger of Alm. Brand and Codan.” Webcast and conference call Alm. Brand will host a conference call for investors and analysts today, Thursday 1 May 2025 at 11:00 a.m. The conference call and presentation will be available on Alm. Brand’s investor website here . Conference call dial-in numbers for investors and analysts (pin: 743033): Denmark: +45 8987 5045 UK: +44 20 3936 2999 USA: +1 646 664 1960 Link to webcast: https://events.q4inc.com/attendee/173001933 Contact Please direct any questions regarding this announcement to: Investors and equity analysts: Head of Investor Relations & ESG Mads Thinggaard Mobile no. +45 2025 5469 Press: Head of Communications and Media Relations Mikkel Luplau Schmidt Mobile no. +45 2052 3883 Attachments