The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Asbj°rn Nicholas M°rk - Danske Bank A/S, Research Division - Analyst
: Actually, a lot of my questions were already answered, but just maybe a little bit of detail. So basically, if I heard you correctly, you would have had
around DKK 38 million of higher large claims in Q1 if you hadn't made that change to the definition of large claims. And then maybe in weather
claims just to make sure I understood. So you have 200 basis points, let's call that around DKK 60 million that I guess you could have classified as
weather claims, if you sort of wanted to, I guess, that is related to the weather we saw in March and to the Storm auto. Was that correctly understood?
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MAY 11, 2023 / 9:00AM, ALMB.CO - Q1 2023 ALM. Brand A/S Earnings Call
Question: Asbj°rn Nicholas M°rk - Danske Bank A/S, Research Division - Analyst
: Okay. Fair enough. And then maybe another thing that impacts your underlying in Q1, the cost ratio in Codan personal, you mentioned the prevailing
payments but the cost ratio is 32% in Q1. It has been around 25%. Is that how to look at this 7% on your private premiums in Codan, that will be
sort of the one-off effect here or the Q1 effect of DKK 40 million.
Question: Asbj°rn Nicholas M°rk - Danske Bank A/S, Research Division - Analyst
: No worries. No worries. All right. And then just a final question from my side would be on the reinsurance which goes from DKK 45 million positive
in Q1 to minus DKK 144 million in Q1 this quarter. I guess also a bit negative versus the recent trend. I'm just wondering how should we see this
develop during 2023 on a quarterly basis given the reinsurance contracts you have made? And how sort of is this progressing relative to your
expectations?
Question: Asbj°rn Nicholas M°rk - Danske Bank A/S, Research Division - Analyst
: All right. [that] actually, a final question for me on large claims, which are obviously very high in Codan around DKK 200 million in Q1. You're also
right that you continue on the prevention work. Could you just give a little bit of flavor maybe you did already in the beginning, I missed it, but
just a little bit of flavor on when should we expect to see the benefits of the prevention work here?
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