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: Tryfonas Spyrou - Joh. Berenberg, Gossler & Co. KG, Research Division - Analyst
: Two questions, please. The first one relates to the property write-down. I guess I was just trying to understand what type of real estate was written
down and how much more could we expect to come? And if it does come, would you look to offset the impact by reducing equity exposure again
or do you have any constraints here?
And I guess related to that, why take more risk in 2024 on guarantee side, given that the spread above the guarantee is now 160 bps? So, it looks
like you can get decent return without taking much risk. So that was my first question.
And the second one is on the insurance combined ratio. Just trying to understand how realistic is the 90% to 92% ambition for next year, given
that you're running, it looks, excluding weather claims, 96% as of Q3, and you could potentially have higher reinsurance costs next year as well.
So, it looks like you're aiming for more than 4 to 5 points improvement to come, mainly from pricing. Is that still realistic to expect? So that was my
questions.
Question: Tryfonas Spyrou - Joh. Berenberg, Gossler & Co. KG, Research Division - Analyst
: The quick follow-up on the 20% you mentioned on Norway and 11% in Sweden. Is it the magnitude between the 2 geographies based on the mix?
So, Norway is more based on -- because you have more office space there and Sweden is more diversified. Am I right to think that or is there anything
you can add there on the magnitude of the write downs in each country?
Question: Tryfonas Spyrou - Joh. Berenberg, Gossler & Co. KG, Research Division - Analyst
: I just have one quick question on the proceeds from the sale of the health business, the NOK 1.1 billion. You haven't mentioned any -- your thoughts
on what you do this. Are these coming back to shareholders or are these allocated to maybe small bolt-on deals in the pension? So, any color on
or some early thoughts on capital location will be appreciated.
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