COPENHAGEN, March 5 Danish insurance company
Topdanmark forecast that its net profit would fall this
year after fourth quarter 2012 earnings beat expectations on
lower weather-related claims.
Fourth-quarter net profit rose to 453 million crowns ($79.04
million) from 350 million in the corresponding period last year,
beating forecasts of a 343 million crown profit in a Reuters
poll of analysts.
Topdanmark said in a statement it expected full-year 2013
net profit to be between 1.05 and 1.15 billion Danish crowns,
down from the full year 2012 figure of 1.82 billion crowns.
The company said its share buy-back programme for 2013 was 2
billion crowns, including 500 million transferred from the 2012
programme. The buy-back represents a yield of 12.4 percent.
($1 = 5.7311 Danish crowns)
(Reporting by Johan Ahlander, editing by Patrick Lannin)