Alm. Brand A/S

ALMB

Equity

ISIN DK0015250344 / Valor 83807

Nasdaq Copenhagen Equities (2025-11-20)

DKK 17.86+1.36%

Alm. Brand A/S
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About company

Alm. Brand A/S is a prominent Danish insurance group primarily focused on non-life insurance services. The company operates through several key brands, including Alm. Brand, Codan, Privatsikring, and Erhvervssikring, each catering to different segments of the market. Alm. Brand collaborates with various financial institutions such as the Association of Local Banks, Spar Nord, and Nykredit to offer insurance solutions to private customers, while its partnership with Sydbank and real estate agents enhances its bancassurance capabilities. The group serves a diverse clientele, including private individuals, small and medium-sized enterprises, property owners, agricultural customers, and public-sector entities. Codan, a part of the group, has a long-standing history in the Danish insurance market, providing a wide array of insurance products with a particular expertise in wind energy insurance. Erhvervssikring focuses on business insurance and claims prevention, leveraging its bancassurance expertise. With over 700,000 customers, Alm. Brand A/S is one of the largest non-life insurance providers in Denmark, known for its comprehensive service offerings and strategic partnerships.

Summarized from source with an LLMView SourceSector: Finance

Enhanced Guidance

Alm. Brand A/S has increased its pre-tax profit guidance by DKK 100 million for Q2 2025, supported by a solid insurance service result and improvements in the underlying business. Specifically, the insurance service result guidance has been lifted by DKK 50 million to DKK 1.6-1.8 billion excluding H2 run-offs, and the investment result guidance has been raised by DKK 50 million to DKK 250 million.

Record Insurance Service Result

The insurance service result reached DKK 520 million in Q2 2025, the highest ever recorded by Alm. Brand A/S. This achievement was fueled by an 11% growth in Personal Lines premiums, an improved claims experience, and favorable developments in the expense ratio.

Strong Premium Growth

Insurance revenue grew by 8% to DKK 2,950 million in Q2 2025, primarily driven by an 11% increase in premiums for Personal Lines. This robust growth highlights the company’s ability to attract and retain customers even in uncertain times.

Improved Claims Experience

The undiscounted underlying claims experience improved by 5.2 percentage points to 62.2 in Q2 2025, reflecting growth in both Personal and Commercial Lines. This improvement was supported by profitability-enhancing measures and synergy gains.

Better Combined Ratio

The combined ratio decreased to 82.3 in Q2 2025 from 88.5 in the previous period. This improvement was driven by fewer major claims, a better underlying claims experience, and a lower expense ratio.

Expense Ratio Improvement

Alm. Brand A/S achieved a significant reduction in the expense ratio to 16.7 in Q2 2025, down from 18.0. This reduction aligns with the group’s objective to lower costs and enhance overall efficiency.

Successful Synergy Initiatives

The implementation of synergy initiatives is progressing as planned, generating a positive accounting effect of DKK 151 million in Q2 2025. These initiatives are contributing to the company’s increased efficiency and competitiveness.

Highly Satisfactory Investment Result

Alm. Brand A/S reported an investment result of DKK 102 million in Q2 2025, up from DKK 65 million. The favorable performance was driven by strong contributions from shares and bonds.

Summarized from source with an LLMView Source

Key figures

34.4%1Y

62.2%3Y

-5.45%5Y

Performance

21.4%1Y

22.7%3Y

26.9%5Y

Volatility