Q3 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, and I'm the group CEO of Topdanmark. And with me is our new group CFO, Lars Kufall Beck; and Head of Investor Relations, Robin Løfgren. We are hosting this conference call because earlier today, we published our report for the first 9 months of 2021.
And I would like to start with a few opening remarks on our results. The DKK 356 million post-tax Q3 result outperformed consensus estimates on result in life, while both premium growth, the technical result from non-life as well as the investment return in non-life was in line with the consensus. We delivered a combined ratio of 85.7% and a growth in non-life of 4.4% in the quarter.
Compared to the first 9 months of 2020, the non-life technical result improved by DKK 245 million despite headwinds on rain and frost and large-scale claims. The improvement is driven by improving underlying trends
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