DENMARK: DAMAGES TOTALLING DKR 1.5-2.0BN

Article Abstract:

Danish insurance companies will have to pay damages totaling DKr 1.5-2.0bn (USD0.2-0.3bn) as a consequence of the hurricane a few days ago, according to preliminary estimates. In the short term, the four insurance companies which are quoted on the Copenhagen Stock Exchange - Topdanmark, Codan, Alm Brand and Skandia, are likely to suffer weakened market value, but in the long term, insurance companies might benefit from the hurricane, as people often pay attention to their insurance coverage after natural disasters.

Denmark, Use of services, Alm Brand Af 1792, Skandia AB, Codan, Topdanmark A/S

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POLAND: TRYG-BALTICA FOCUSES ON PROFITABILITY

Article Abstract:

Besides growth, Energo-Asekuracja, the Polish subsidiary of the Danish insurance company Tryg-Baltica, is focusing on profitability and cost control. The aim is to report profits already next year; for 1999, the company expects reaching break-even. The strategy includes offering quality products at medium prices. At present, Tryg-Baltica owns 48% of the Polish company, and aims at increasing the stake to, possibly, up to 100%, in four-five years' time.

Strategy & planning

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POLAND: TRYG-BALTICA TO MAKE CAPITAL INJECTION

Article Abstract:

The Danish company Tryg-Baltica is planning for a capital injection into its Polish subsidiary Energo Asekuracja. The aim is to target the life insurance market in Poland. Peter Majgaard, head director of the Polish subsidiary, anticipates a huge growth of the market in the next few years. Energo Asekuracja aims at reaching a 1.5% market share in a few years' time. The company has a 1.2% share of the non-life insurance market at present.

Receipt of funds, Life Insurance, Direct Life Insurance Carriers, Use of Funds, Tryg-Baltica A.S.

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