Building damage impacts Alm. Brand’s profits

Alm. Brand’s insurance business has seen a significant increase in income, reaching 2.7 million kroner in the second quarter, up by 138 million kroner. However, larger payouts for commercial client damages resulted in a drop in the insurance result from 425 million kroner last year to 312 million this quarter. Large claims amounted to 239 million kroner compared to 104 million in the same period last year. Costs related to weather damages were low at 26 million kroner. CEO Rasmus Werner praised the company’s growth and highlighted the strength in having a diversified business. Despite the setbacks, Alm. Brand still managed a satisfactory half-year result with a net profit of 35 million kroner, down from a quarter of a billion in the previous year.