The Financial Performance of 3 Insurance Companies from Denmark- According to Annual Report of insurance companies in 2021, there are 3 insurance companies from Denmark that can be analysed in the years of 2021. Basically, in these years, the global economic slowed down amid the Covid-19 pandemic. Based the data from Stats Bank, Insurance premiums in Denmark from Property and casualty (P&C) around 8.7 billion Euro. Meanwhile, the premium of life insurance around 22.3 billion Euro. Based on the class of insurance, Fire and other damage to property has biggest contribution. It contributes around 34 % of all gross premium. Furthermore, Motor vehicles can contribute 24% of all gross premium, Health and accident contributes 23%, and Workers’ compensation around 6% of all gross premium.
Based on the insurance companies in Denmark, there are some companies with huge insurance markets. Here are the rank of the 3 insurance companies in Denmark with huge assets and income in 2021. All of the these data was obtained from Annual Report in 2021. Annual Report basically the comprehensive report that is published by company each year. Basically, this report is the responsibility to its investor. With this report, investor can look, analyse, and evaluate their investment policy at that company.
Financial Performance of 3 Insurance Companies from Denmark Based on Assets
| Rank | Name of Insurance Companies | Assets | Assets | Liabilities | Liabilities |
|---|---|---|---|---|---|
| Danish Krone | US Dollar | Danish Krone | US Dollar | ||
| 1 | Topdanmarks | 120 Billion | 16.8 Billion | 112 Billion | 15.68 Billion |
| 2 | Tryg | 100.5 Billion | 14.07 Billion | 51.57 Billion | 7.2 Billion |
| 3 | Alm. Brand | 42.3 Billion | 5.9 Billion | 28.5 Billion | 3.9 Billion |
| Source : Annual Report, 2021 | |||||
| Currency Rate : 1 Danish Krone = 0.14 US Dollar | |||||
| Danish Krone : The values in Danish Crone | |||||
| US Dollars : The value after converted from Danish Krone to US Dollars | |||||
The variable of assets and liabilities of insurance companies in Denmark came from Balance sheet of annual Report in 2021. The balance sheet basically describes the financial positions of the company. The balance sheet consists of Assets, Liabilities, and Equities. Asset is the physical and non-physical property that companies have possessed. Meanwhile, Liabilities is the debt or obligation that companies have to be paid off in the future. Lastly, the equities are the net assets, or the value of equities is the difference between assets and liabilities.
Financial Performance of 3 Insurance Companies from Denmark Based on Net Income
| Rank | Name of Insurance Companies | Revenue | Revenue | Net Income | Net Income |
|---|---|---|---|---|---|
| Danish Krone | US Dollar | Danish Krone | US Dollar | ||
| 1 | Tryg | 23.76 Billion | 3.3 Billion | 3.1 Billion | 434 Million |
| 2 | Topdanmarks | 20.6 Billion | 2.8 Billion | 2.13 Billion | 298 Million |
| 3 | Alm. Brand | 5.1 Billion | 0.7 Billion | 598 Million | 83.72 Million |
| Source : Annual Report, 2021 | |||||
| Currency Rate : 1 Danish Krone = 0.14 US Dollar | |||||
| Danish Krone : The values in Danish Crone | |||||
| US Dollars : The value after converted from Danish Krone to US Dollars | |||||
The rank above was arranged based on the net income of insurance companies. All of the data came from income statement of Annual Report in 2021. Income statements basically describe the business performance in specific year. In the income statements, these can describe the profit or loss of the company . In the rank above, the revenue is the sales of insurance companies from main business or secondary business or others. Meanwhile, the net income/ loss is the profit/ loss that company has received.
Financial Performance of 3 Insurance Companies from Denmark
1. Topdanmarks
Topdanmark basically is one of the biggest insurance companies in Denmark. According to its insurance products, they offered wide range of products within insurance and pension to both private, commercial and agricultural customers. Historically, this company started the business in 1899. Along with business development, this company has approximately 2,400 employees all over the country. Operationally, this company has main office in Ballerup.
Financially, in 2021, based on the balance sheet, the company has assets around 120 billion Danish Krone / 16.8 billion US Dollar with liabilities around 112 billion Danish Krone / 15.68 billion US Dollar . Based on the business performance in 2021, the company can generate revenue around 20.6 billion Danish Krone / 2.8 billion US Dollar with net income around 2.13 billion Danish Krone / 298 million US Dollar.
2. Tryg
Tryg A/S is the Denmark Insurance companies that has main office in Copenhagen, Denmark. Historically, it was founded on 2002 with the merger between Tryg Forsikring and Nordea’s insurance. Operationally, this company has some insurance markets in Denmark, Norway, Sweden, and Finland. Financially, based on the balance sheet in 2021, the company has assets around 100.5 billion Danish Krone / 14.07 billion US Dollar with liabilities around 51.57 billion Danish Krone / 7.2 billion US Dollar. Based on business performance in 2021, in Income statement, the company can generate revenue around 23.76 billion Danish Krone / 3.3 billion US Dollar with Net Income around 3.1 billion Danish Krone / 434 million US Dollar.
3. Alm. Brand
The Alm. Brand A/S Group is financial services group from Denmark. Basically, Alm. Brand consisting of a listed holding company and a number of subsidiaries operating within non-life insurance, banking and life and pension insurance. Historically, this company was found 29 February 1792 with the help of Royal decree signed by King Christian. Along with business development, the company has around 1,600 employees. Operationally, this company has main office in Copenhagen, Denmark. Based on the balance sheet of the company, Alm. Brand has Assets around 42.3 billion Danish Krone / 5.9 billion US Dollar with Liabilities around 28.5 billion Danish Krone / 3.9 billion US Dollar. Based on the business performance in 2021, the company can generate revenue around 5.1 billion Danish Krone / 0.7 billion US Dollar with Net Income around 598 million Danish Krone / 83.72 million US Dollar.
Bibliography Article The Financial Performance of 3 Insurance Companies from Denmark
Topdanmark. 2022.Investor relations in Topdanmark. Accessed via https://www.topdanmark.dk/om-topdanmark/investor-relations/ on June 28th, 2023.
Tryg.2022. Investor. Accessed via https://tryg.com/en/investor on June 28th, 2023.
Alm Brand. 2022. Financial& Presentations. Accessed via
https://investorrelations.almbrand.dk/English/financials-and-presentations/default.aspx\ on on June 28th, 2023.
Sampo. 2022.Sampo Group Market Overview P&C Insurance Markets Denmark. Accessed via https://www.sampo.com/globalassets/muut-tiedostot/market-overview/pc/pc_insurance_markets_denmark.pdf on June 28th, 2023.