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Denmark's Alm. Brand Q3 insurance revenue rises on Personal Lines unit strength

By Reuters News


Overview

  • Denmark insurer's Q3 insurance revenue rose 1.6%, driven by Personal Lines growth

  • Q3 insurance service result hit record high, helped by lower claims and run-off gains

  • Company to cut 85 jobs in October to improve efficiency, with costs in Q4


Outlook

  • Alm. Brand raises 2026 insurance service result guidance to DKK 1.50-1.60 bln, excluding Q4 run-offs

  • Company lowers 2026 investment result guidance to around DKK 150 mln from DKK 250 mln

  • Alm. Brand expects non-recurring costs of about DKK 40 mln in Q4 2026 from workforce reduction


Result Drivers

  • LOWER CLAIMS - Co said lower weather-related and major claims contributed to record insurance service result

  • RUN-OFF GAINS - Run-off gains, mainly from workers’ compensation and property insurance, boosted quarterly results

  • COMMERCIAL LINES PROFITABILITY FOCUS - Decline in Commercial Lines premium income reflected ongoing efforts to improve profitability


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Net Income

DKK 397 mln

Q3 Pretax Profit

DKK 544 mln


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the property & casualty insurance peer group is "buy"

  • Wall Street's median 12-month price target for ALM. Brand A/S is DKK19.30, about 9.2% above its October 27 closing price of DKK17.67

  • The stock recently traded at 17 times the next 12-month earnings vs. a P/E of 20 three months ago


Reuters Recommended Reads

  • Oct 26 - Hartford Insurance Q3 core EPS beats estimates; dividend raised

  • Oct 27 - Arch Capital Q3 net income falls, catastrophe losses rise

  • Oct 26 - Insurance brokerage Brown & Brown's Q3 revenue misses estimates


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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