News
Public · Published
Alm. Brand A/S - Interim report for Q3
Alm. Brand A/S reported an insurance service result of DKK 755 million for Q3 2026, up from DKK 535 million, the highest to date. This was driven by fewer weather-related and major claims and by run-off gains. The claims ratio was 59.2 and the combined ratio 75.3.
Published:
Updated:
What happened
Alm. Brand A/S reported an insurance service result of DKK 755 million for Q3 2026, up from DKK 535 million, the highest to date. This was driven by fewer weather-related and major claims and by run-off gains. The claims ratio was 59.2 and the combined ratio 75.3.
Confirmed
Global impact / market context
A lower claims ratio means the company keeps more of each premium as profit, so fewer payouts lift earnings even when revenue grows only slightly. Insurance revenue rose 1.6% to DKK 3,054 million, with Personal Lines growing 4.7% while Commercial Lines premiums declined 1.8%.
Analyst inference
Major claims were 2.4% of insurance revenue, 3.9 percentage points below the prior year and below normal expectations, while weather-related claims fell to 2.0%. The run-off result of DKK 124 million, up from DKK 38 million, added further support to the quarterly result.
Analyst inference
What to watch
- Commercial Lines premium income declined 1.8%, reflecting a sustained focus on enhancing profitability. Excluding workers' compensation and industrial customers, Commercial Lines premium grew 2.7%, so watch whether that underlying growth continues. Confirmed
- Major and weather-related claims were below normally expected levels, which may not repeat. Watch whether future claims return to normal levels and push the claims ratio and combined ratio higher. Analyst inference
- Watch the run-off result, DKK 124 million this quarter, which means gains from revising earlier claim estimates. Such gains may be uneven, so future quarters could show smaller boosts from this item. Proposed