DENMARK: TRYG-BALTICA'S INTERIM RESULTS
Article Abstract:
The Danish insurance company Tryg-Baltica reports a DKr 507mn (USD 61mn) result before extra-ordinary items and tax for non-life insurance operations the first six months of 2000, and a DKr 297mn result for life insurance operations. For the same period in 1999, the results were DKr 392mn and DKr 187mn respectively. Premium revenues increased by 2% to DKr 2,937mn for non-life insurance operations and by 10% to DKr 1,943mn for life insurance operations. Return on equity for non-life insurance operations was 16%. The so-called combined ratio, damages in relation to premium revenues, was 111.3, which means costs exceeded revenues. This is due to the hurricane in December 1999.
Publication Name: Boersen
Subject: Business, international
ISSN:
Year: 2000
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DENMARK: CODAN EXPECTS LOWER PROFITS
Article Abstract:
Insurance company Codan warns that profits might be lower than expected. In March, the pre-tax profit for the entire year 2000 was expected to be DKr 465-635 million, but expectations have now been lowered to DKr 100-200 mn (US$ 11-22 mn). The warning was given in conjunction with Codan's 6 month interim report. The report showed a pre-tax profit of DKr 321 mn, compared to DKr 535 mn after the same period in 1999.
Publication Name: Boersen
Subject: Business, international
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Year: 2000
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Denmark: Tryg to sell off non-life insurance unit?
Article Abstract:
Tryg-Baltica's subsidiary Tryg-Baltica Liv og Pension (life and pension insurance) was yesterday renamed Tryg-Baltica Pension as it received a new board of directors. This has given rise to rumours that Tryg-Baltica could sell its non-life insurance division already in a week's time when its parent company Nordea announces its third-quarter results. Tryg-Baltica ceo Ib Mardahl-Hansen rejects these rumours.
Publication Name: Boersen
Subject: Business, international
ISSN:
Year: 2001
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