Topdanmark Forsikring A/S Income statement
Full year | Q1 | Q1 | |
(DKKm) | 2021 | 2021 | 2022 |
Gross premiums written | 9,620 | 4,306 | 4,441 |
Ceded reinsurance premiums | (601) | (334) | (358) |
Change in the provisions for unearned premiums | 128 | (1,973) | (2,104) |
Change in profit margin and risk margin | (130) | 16 | 119 |
Change in the reinsurers' share of the provisions | |||
for unearned premiums | 4 | 201 | 212 |
Premiums earned, net of reinsurance | 9,021 | 2,217 | 2,311 |
Claims paid | (5,640) | (1,519) | (1,506) |
Reinsurance cover received | 268 | 51 | 72 |
Change in the provisions for claims | (378) | (6) | (153) |
Change in risk margin | 17 | 9 | (12) |
Change in reinsurers' share of the provisions for claims | 150 | 40 | 19 |
Claims incurred, net of reinsurance | (5,583) | (1,424) | (1,580) |
Bonuses and rebates | (78) | (16) | (28) |
Acquisition costs | (1,041) | (280) | (273) |
Administrative expenses | (745) | (187) | (186) |
Intra-group reimbursements | 239 | 58 | 56 |
Reinsurance commission and share of profits | 81 | 18 | 20 |
Insurance operating expenses, net of reinsurance | (1,466) | (390) | (384) |
TECHNICAL RESULT | 1,894 | 386 | 318 |
Income from affiliates | 336 | 183 | 13 |
Income from associates | 4 | 2 | 2 |
Interest income and dividends etc. | 367 | 134 | 77 |
Value adjustments | (171) | (173) | (574) |
Interest charges | (37) | (12) | (8) |
Expenses on investment activities | (51) | (13) | (11) |
Total investment return | 449 | 121 | (501) |
Return and value adjustments of non-life insurance provisions | 346 | 262 | 371 |
INVESTMENT RETURN AFTER RETURN AND | |||
VALUE ADJUSTMENTS OF TECHNICAL PROVISIONS | 795 | 383 | (131) |
Other income | 4 | 1 | 1 |
Other expenses | (3) | (0) | (26) |
PROFIT BEFORE TAX | 2,691 | 770 | 162 |
Tax | (521) | (131) | (35) |
PROFIT | 2,170 | 638 | 127 |
638 | 127 | ||
(1) | 0 | ||
(1) | 0 | ||
637 | 127 |
TOTAL COMPREHENSIVE INCOME
Statement of comprehensive income ● Parent company
Profit
Other comprehensive income from affiliates Other comprehensive income
2,170
0 0 2,170
Topdanmark Forsikring A/S Assets
31 December | 31 March | 31 March | |
(DKKm) | 2021 | 2021 | 2022 |
INTANGIBLE ASSETS | 587 | 534 | 596 |
Operating equipment | 10 | 12 | 9 |
TOTAL TANGIBLE ASSETS | 10 | 12 | 9 |
Equity investments in affiliates | 2,704 | 3,544 | 2,721 |
Loans to affiliates | 300 | 300 | 300 |
Equity investments in associates | 76 | 74 | 78 |
Total investment in affiliates and associates | 3,080 | 3,917 | 3,098 |
Equity investments | 1,165 | 1,222 | 1,096 |
Bonds | 13,007 | 14,918 | 13,681 |
Deposits with credit institutions | 864 | 1,590 | 503 |
Derivatives | 22 | 27 | 0 |
Total other financial investment assets | 15,058 | 17,756 | 15,280 |
TOTAL INVESTMENT ASSETS | 18,139 | 21,673 | 18,379 |
Reinsurers' share of the provisions for unearned premiums | 99 | 264 | 277 |
Reinsurers' share of the provisions for claims | 540 | 432 | 554 |
Total reinsurers' share of provisions | 640 | 697 | 831 |
Receivables from policyholders | 231 | 299 | 304 |
Receivables from insurance companies | 102 | 71 | 202 |
Receivables from affiliates | 4,712 | 2,283 | 4,299 |
Other receivables | 136 | 417 | 119 |
TOTAL RECEIVABLES | 5,821 | 3,766 | 5,755 |
Deferred tax assets | 24 | 14 | 33 |
Liquid funds | 147 | 168 | 45 |
Other | 98 | 46 | 157 |
TOTAL OTHER ASSETS | 268 | 227 | 235 |
Accrued interest and rent | 67 | 81 | 82 |
Other prepayments and accrued income | 88 | 139 | 103 |
TOTAL PREPAYMENTS AND ACCRUED INCOME | 155 | 221 | 185 |
TOTAL ASSETS | 24,980 | 26,433 | 25,159 |
Topdanmark Forsikring A/S Shareholders' equity and liabilities
31 December | 31 March | 31 March | |
(DKKm) | 2021 | 2021 | 2022 |
Share capital | 101 | 101 | 101 |
Revaluation reserve | 1,669 | 2,505 | 1,686 |
Security fund | 1,452 | 1,452 | 1,452 |
Total reserves | 1,452 | 1,452 | 1,452 |
Profit carried forward | 793 | 1,467 | 928 |
Proposed dividend | 3,100 | 0 | 0 |
TOTAL SHAREHOLDERS' EQUITY | 7,114 | 5,525 | 4,167 |
OTHER SUBORDINATED LOAN CAPITAL | 1,500 | 1,350 | 1,500 |
Provisions for unearned premiums | 1,263 | 3,373 | 3,337 |
Profit margin, non-life insurance contracts | 1,316 | 1,154 | 1,219 |
Provisions for claims | 11,097 | 10,531 | 11,069 |
Risk margin, non-life insurance contracts | 150 | 172 | 165 |
Provisions for bonuses and rebates | 151 | 107 | 143 |
TOTAL PROVISIONS FOR INSURANCE CONTRACTS | 13,977 | 15,337 | 15,932 |
Pensions and similar commitments | 24 | 27 | 24 |
Other liabilities | 0 | 0 | 25 |
TOTAL PROVISIONS | 24 | 27 | 49 |
Debt relating to direct insurance operations | 16 | 11 | 25 |
Debt relating to reinsurance operations | 39 | 133 | 254 |
Amounts due to credit institutions | 270 | 700 | 922 |
Amounts due to affiliates | 1,062 | 2,111 | 1,512 |
Derivatives | 238 | 456 | 152 |
Other debt | 675 | 772 | 629 |
TOTAL DEBT | 2,301 | 4,183 | 3,496 |
ACCRUALS AND DEFERRED INCOME | 63 | 11 | 15 |
TOTAL SHAREHOLDERS' EQUITY AND LIABILITIES | 24,980 | 26,433 | 25,159 |
Topdanmark Forsikring A/S Statement of changes in equity
(DKKm)
Share capital
Revalu-ation Security
Profit carried ProposedreservefundforwarddividendTotal
2021
Shareholders' equity at 31 December previous year Profit
Other comprehensive income from affiliates Total comprehensive income
Dividends received from affilliates Dividend paid
Capital contribution from Topdanmark A/S (employee shares)
Taxation
Equity movements in affiliates Other transactions
Shareholder's equity at 31 December 2021
101
2,320
1,452
998 1,800 6,672
340
0
(1,270) 3,100 2,170 0
(1,000)
340
(1,270) 1,000
(1,800)
3,100
2,170 0 (1,800)
58 58
6 6
8 8
(992)
1,065
(1,800) (1,728)
101
1,669
1,452
793
3,100 7,114
Q1 2021
Shareholders' equity at 31 December previous year Profit
Other comprehensive income from affiliates Total comprehensive income
Dividend paid
Capital contribution from Topdanmark A/S (employee shares)
Taxation
Equity movements in affiliates Other transactions
Shareholders' equity at 31 March 2021
101
2,320 185
1,452
998 1,800 6,672
454 638
(1) (1)
183
454 637
(1,800)
(1,800)
14 14
1 1
1 1
1
15
(1,800) (1,784)
101
2,505
1,452
1,467
0 5,525
Q1 2022
Shareholders' equity at 31 December previous year Profit
Other comprehensive income from affiliates Total comprehensive income
Dividend paid
Capital contribution from Topdanmark A/S (employee shares)
Taxation
Equity movements in affiliates Other transactions
Shareholders' equity at 31 March 2022
101
1,669 15
1,452
793 3,100 7,114
113 127
0 0
15
113 127
(3,100)
(3,100)
16 16
6 6
2 2
1 3
101
1,686
1,452
928
23
(3,100)
0
(3,075) 4,167
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
Topdanmark A/S published this content on 27 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 April 2022 06:14:04 UTC.