May 14, 2020 / 6:48 AM / 19 days ago

BRIEF-ALM. Brand Q1 Pre-Tax Profit Down At DKK 33 Mln

May 14 (Reuters) - ALM. Brand A/S:

* REG-ALM. BRAND A/S - INTERIM REPORT Q1 2020

* POSTED A PRE-TAX PROFIT OF DKK 33 MILLION IN Q1 2020.

* PROFIT WAS IMPACTED BY SPECIAL SITUATION TRIGGERED BY COVID-19,

* OUTLOOK FOR 2020 : EXPECTS TO GENERATE A PRE-TAX PROFIT OF DKK 550-700 MILLION EXCLUDING RUN-OFF RESULT IN NEXT NINE MONTHS

* MAINTAINS FINANCIAL TARGETS FOR 2022

* ALM. - GUIDANCE IS SUBJECT TO GREATER-THAN-USUAL UNCERTAINTY DUE TO FOLLOW-ON EFFECTS OF COVID-19 ON INVESTMENT RESULT AND IMPAIRMENT WRITEDOWNS ON LOANS IN PARTICULAR

* TARGET FOR CUSTOMER SATISFACTION AS EXPRESSED BY NET PROMOTOR SCORE IS 70, WHILE TARGET FOR EMPLOYEE SATISFACTION IS A SCORE OF 80

* ALM. BRAND - REVISES FY GUIDANCE FOR NON-LIFE INSURANCE TO PRE-TAX PROFIT OF ABOUT DKK 500 MILLION EX. RUN-OFF RESULT VERSUS EARLIER VIEW OF DKK 525 MILLION EX. RUN-OFF RESULT

* FOR LIFE INSURANCE, GUIDANCE FOR A PRE-TAX PROFIT OF ABOUT DKK 100 MILLION IS MAINTAINED

* GUIDANCE FOR BANKING REVISED TO PRE-TAX PROFIT OF ABOUT DKK 80 MILLION VERSUS EARLIER VIEW OF DKK 100 MILLION

* Q1 TOTAL INCOME DKK 2.11 BILLION VERSUS DKK 2.20 BILLION YEAR AGO Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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