Q1 2021 Topdanmark A/S Earnings Call Transcript
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Good afternoon, everybody, and good morning to the U.S.A. Thank you for joining us at this conference call. My name is Peter Hermann. I'm the CEO of Topdanmark. And with me is our group CFO, Lars Thykier; and our newly appointed Head of Investor Relations, Robin Løfgren.
We are hosting this conference call because earlier today, we published our Q1 report. I would like to start with a few opening remarks on our results. And despite the guidance update we made after Easter, the Q1 result actually outperformed consensus estimates on premium growth in non-life as well as on the result in life and the investment return. And compared to Q1 2020, the non-life technical result improved by DKK 108 million despite headwinds on discounting and risk margin.
The improvement is driven by the absence of weather-related claims, there's fewer large-scale claims and also a positive impact from COVID-19 on, for instance, travel and motor. However, we're also starting to see these positive
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