COPENHAGEN Nov 13 Danish insurance company Topdanmark beat expectations for the third quarter and bumped up its guidance for full-year net profit on Tuesday.
Third-quarter net profit surged to 523 million Danish crowns ($89.14 million) from a loss of 53 million in the corresponding period last year, beating forecasts of 345 million crown profit in a Reuters poll of analysts.
Topdanmark said it expected full-year 2012 net profit to be between 1.55 billion and 1.65 billion Danish crowns instead of a previously guided range of 1.30 billion to 1.40 billion crowns.
The company also expanded its buy-back programme for 2012 by 250 million crowns to 1.7 billion crowns.
($1 = 5.8670 Danish crowns) (By Johan Ahlander)