Skip to main content

Alm. Brand A/S – Interim report for Q3

Written by Customer Service on . Posted in Earnings Releases And Operating Results.

Satisfactory Q3 results contributing to DKK 150 million upgrade of profit before tax and excluding special costs

  • Guidance for the insurance service result is lifted by DKK 100 million and specified to DKK 1.75-1.85 billion
  • Guidance for the investment result is lifted by DKK 50 million to DKK 300 million
  • Insurance service result for Q3 2025 was a profit of DKK 535 million (DKK 400 million), equivalent to a combined ratio of 82.2 (85.7). The result was driven by sustained strong premium growth, an improved claims experience and positive developments in the expense ratio
  • Insurance revenue grew at a highly satisfactory rate of 7.5% to DKK 3,006 million (DKK 2,796 million), driven in particular by premium growth of 9.9% in Personal Lines
  • The undiscounted underlying claims experience improved by 3.2 percentage points to 61.4, supported by particularly favourable developments in Commercial Lines driven by the implemented profitability-enhancing measures and realised synergies
  • The expense ratio improved significantly to 15.8 (17.1), reflecting the group’s objective of lowering the cost level
  • The implementation of synergy initiatives progressed according to plan and generated a positive accounting effect of DKK 158 million in Q3 2025 (DKK 118 million), causing Alm. Brand Group to expect to realise synergies in an amount of more than DKK 600 million in 2025
  • Satisfactory investment result of DKK 66 million (DKK 133 million), with shares and bonds contributing favourably to the result
  • The consolidated profit before tax was DKK 452 million (DKK 376 million)
  • High SCR ratio of 254% in Q3 2025 based on PIM approval

CEO Rasmus Werner Nielsen on the Q3 financial results:

“We generated robust financial results in the third quarter, reflecting a sustained inflow of new customers to our company and generally satisfactory developments in our business activities. Our interim financial statements also show that we are close to successfully completing the merger of Codan and Alm. Brand and realising our ambitious financial targets for 2025.

We owe this achievement to the outstanding commitment and performance of all Alm. Brand Group employees. Our efforts have given us a strong foundation as a fully-focused Danish non-life insurer and a strong platform for launching our strategy for the period until 2028, which we look forward to announcing at our capital markets day in November.”

This interim report and related materials are available at Alm. Brand Group’s investor website: Q3 2025

Webcast and conference call
Alm. Brand will host a conference call for investors and analysts today, Wednesday 29 October 2025 at 11:00 a.m. The conference call and presentation will be available on Alm. Brand Group’s investor website:

Conference call dial-in numbers for investors and analysts (PIN: 365061):

Denmark: +45 89 87 50 45
UK: +44 20 3936 2999
USA: +1 646 233 4753

Link to webcast: Alm. Brand Group Q3 2025

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

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.