DENMARK: INSURANCE COMPANIES TO INCREASE PREMIUMS

Article Abstract:

Insurance premiums for Danish business customers and industrial clients will be raised by 30-50 per cent, according to Peter Falkenham of Tryg Baltica. The raise is due to the fact that reassurance companies have suffered great losses, primarily following a number of hurricanes and other natural disasters around the world, and consequently increased prices dramatically. Several reassurance companies have completely withdrawn from the market. Chief executive of AON Soren Lindbo says that industrial clients should counter premium raises by seriously working with their risk management programmes.

INSURANCE CARRIERS, Reinsurance, Reinsurance Carriers, Aon Corp.

---

DENMARK: HURRICANE DAMAGES TO TOTAL DKR 6BN

Article Abstract:

According to the latest estimates, damages caused by the hurricane in Denmark in December total up to DKr 6bn (USD 0.8bn). This sum exceeds by DKr 2bn reinsurance contracts signed by Danish insurance companies for this kind of damages. For Topdanmark, the second largest Danish insurance company, costs might total up to DKr 400mn before tax, and the company has downgraded its estimated net result for 1999 by DKr 190mn. Tryg-Baltica and Alm Brand say their reinsurance contracts will cover costs.

Capital expenditures, Insurance, Insurance Carriers and Related Activities, Tryg-Baltica A.S., Topdanmark A/S, Alm. Brand A/S

---

DENMARK:INSURERS FACE TROUBLE WITH HURRICANE COSTS

Article Abstract:

A number of Danish insurance companies including Alm.Brand, Tryg-Baltica and Codan, are still having problems with recovering their costs from their re-insurance companies following the hurricane in December 1999 that caused damage worth DKr14bn (US$1.7bn). The companies say they do not expect that there will be problems in recovering the money but anticipate that it will take time.

Similar abstracts:

• Abstracts: DENMARK: SLAUGHTER-HOUSE COMPANIES CRITICAL OF THE EU. DENMARK: DANISH CROWN TO INTRODUCE ETHICAL STANDARD
• Abstracts: DANMARK: TOPDANMARK CONFIRMS RUMOURS. DENMARK: CODAN HAS AN IMAGE PROBLEM. Denmark: Codan and Tryg-Baltica to merge?
• Abstracts: DENMARK: NO CLOSURE FOR POWER STATIONS. DENMARK:ENERGI E2 TO SELL POWER STATION. Denmark: Electricity prices not expected to drop
• Abstracts: Securicor, Deutsche Post form parcel joint venture. Deutsche Post AG. Monopoly extension fuels pricing power of Deutsche post
• Abstracts: An important contract in Turkey. Skoda Plzen succeeds in Poland. VOP Sternberk completes a contract for Sweden

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.