Topdanmark Increases Premiums in Q1

Topdanmark’s premium income has risen by 11.9% in the first quarter of this year compared to the same period last year, as reported in the quarterly accounts published on Tuesday. This increase is in part due to the acquisition of Oona Health, completed on December 1st the previous year, which owns Dansk Sundhedssikring, the leading health insurance provider in Denmark with 575,000 customers. Excluding the acquisition, ongoing activities saw a 4.3% growth in premium income. After-tax profits amounted to DKK 377 million, slightly higher than the previous year by DKK 4 million. However, the combined ratio—a measure of profitability—was marginally weaker at 84.8 compared to 83.6 the year before. Topdanmark expects to maintain a premium growth rate of around 4.5% and has slightly raised its profit expectations for the year, now anticipating an after-tax result between DKK 1.25 billion and DKK 1.525 billion.