23 November 2007 Topdanmark's Q1 Q3 2007 Report On Tuesday 27 November 2007 Topdanmark will announce its Q1 Q3 2007 results. At the end of this e-mail you will find the consensus estimates for Q1 Q3 2007, Q3 2007, 2007, 2008 and 2009. Please be advised: We expect to publish the results around 13:00 (CET) You will receive the report by e-mail At the time of the announcement, on www.topdanmark.com Presentations a webcast in English will be available in which Topdanmark's CEO, Poul Almlund presents the Company's financial highlights for Q1 Q3 2007 and comments on the forecast for 2007 A conference call is being held in English on Tuesday 27 November 2007 14:30 (CET), 13:30 (UK) where Poul Almlund, CEO and Christian Sagild, Group Managing Director will be available for questioning. It would be an advantage for the participants having seen the webcast or presentation before the conference call. The presentation will be available on www.topdanmark.com shortly after the announcement of the results In order to access the conference call, please call: UK dial in number: +44 (0) 20 7162 0025 US dial in number: +1 334 323 6201 5-10 minutes before the conference asking the operator to connect you to the Topdanmark conference call or listen to the live transmission on http://wcc.webeventservices.com/view/wl/r.htm?e=97923&s=1&k=97e210f3773cdbb 279A3445AE41BA528&cb=genesys where an audio streaming also will be available after the conference. At the time of Topdanmark s announcement of the Q1 Q3 2007 report, an interactive report, the accounts, financial highlights and ratios by quarters will also be available on www.topdanmark.com.
Page 2 Investor meetings will be held on: Wednesday 28 November in Copenhagen 14:00 (CET) co-ordinated by Danske Bank Thursday 29 November in London co-ordinated by Carnegie Thursday 29 November in Edinburgh co-ordinated by Fox-Pitt, Kelton Tuesday 4 December in Milan co-ordinated by KBW If you have any questions, please do not hesitate to call me on +45 4474 4017 or +45 4025 3524. Kind regards Steffen Heegaard Below please find analysts' consensus estimates for Q1 Q3 2007, Q3 2007, 2007, 2008 and 2009: Consensus estimates for financial highlights and ratios for Q1 Q3 2007: Q1-Q3 2007 results Gross premiums earned 6,637.5 6,639.5 6658 6614 Non-life 1,196.3 1,201.5 1219 1157 Life 84.4 88.5 103 47 Parent company etc. (19.6) (19.0) (14) (25) Pre-tax profit / (loss) 1,280.7 1,273.6 1359 1236 Taxation (290.1) (286.5) (276) (310) Profit / (loss) for the period 1,280.7 987.0 1049 952 Loss ratio (%) 67.7 67.6 68.7 66.8 Net reinsurance ratio (%) 3.6 3.7 4.2 3.0 Claims trend (%) 71.3 71.3 71.8 71.0 Expense ratio (%) 14.5 14.5 14.5 14.4 Combined ratio (%) 85.8 85.7 86.2 85.4 Operating ratio (%) 83.8 83.6 84.4 83.5 Share buy-back programme 1578 1578 1624 1532 LD Markets, Carnegie, Jyske Markets, Danske Equities, Goldman Sachs, ABG and SEB.
Page 3 Consensus estimates for financial highlights and ratios for Q3 2007: Q3 2007 results Gross premiums earned 2,237.5 2,238.5 2259 2210 Non-life 295.2 294.5 363 222 Life 24.7 25.0 46 (10) Parent company etc. (4.1) (5) 0 (11) Pre-tax profit / (loss) 319.9 329.0 380 258 Taxation (81.3) (73.0) (61) (138) Profit / (loss) for the period 319.9 227.0 285 197 Loss ratio (%) 68.4 67.7 71.7 66.0 Net reinsurance ratio (%) 2.6 2.5 4.4 0.5 Claims trend (%) 71.1 70.8 72.5 70.0 Expense ratio (%) 14.4 14.4 14.5 14.0 Combined ratio (%) 85.4 85.0 86.6 84.4 Operating ratio (%) 83.2 82.6 84.9 82.6 Share buy-back programme 364 364 451 277
Page 4 Consensus estimates for financial highlights and ratios for 2007: 2007 annual results Gross premiums earned 8,884.2 8,887.0 8,985 8,827 Non-life 1,526.4 1,538.5 1,620 1,401 Life 108.8 105.0 148 88 Parent company etc. (20.2) (24) 4 (35) Pre-tax profit / (loss) 1,635.2 1,635.0 1,840 1,459 Taxation (357) (377.5) (256) (397) Profit / (loss) for the period 1,635.2 1,259.0 1,404 1,167 Loss ratio (%) 68.4 68.3 70.4 67.2 Net reinsurance ratio (%) 3.2 3.2 4.1 2.4 Claims trend (%) 71.7 71.5 72.8 71.2 Expense ratio (%) 14.4 14.5 14.6 14.2 Combined ratio (%) 86.1 85.9 87.0 85.7 Operating ratio (%) 83.9 83.8 84.4 83.6 Share buy-back programme 1957 2000 2150 1750
Page 5 Consensus estimates for financial highlights and ratios for 2008: 2008 annual results Gross premiums earned 9,216.3 9,195.0 9,382 9,114 Non-life 1,553.4 1,609.0 1,757 1,302 Life 152.0 148.0 205 109 Parent company etc. (25.5) (21.5) 0 (50) Pre-tax profit / (loss) 1,705.4 1,750.5 1,844 1,459 Taxation (397.0) (403.0) (330) (436) Profit / (loss) for the period 1,282.9 1,332.0 1,451 1,094 Loss ratio (%) 70.4 70.4 72.4 69.0 Net reinsurance ratio (%) 2.9 2.8 3.5 2.4 Claims trend (%) 73.5 73.2 75.9 72.1 Expense ratio (%) 14.4 14.4 14.6 14.2 Combined ratio (%) 87.9 87.6 90.1 86.5 Operating ratio (%) 85.4 85.2 87.1 84.3 Share buy-back programme 1253 1212.5 1644 1003
Page 6 Consensus estimates for financial highlights and ratios for 2009: 2009 annual results Gross premiums earned 9,606.8 9,619.0 9,818 9,377 Non-life 1,532.9 1,599.4 1,792 1,202 Life 154.1 155.0 185 115 Parent company etc. (27.3) (21.5) 0 (53) Pre-tax profit / (loss) 1,659.7 1,709.4 1,890 1,367 Taxation (388.0) (416.0) (302) (433) Profit / (loss) for the period 1,271.7 1,315.4 1,474 1,025 Loss ratio (%) 71.6 71.5 73.6 70.0 Net reinsurance ratio (%) 2.8 2.7 3.5 1.9 Claims trend (%) 74.6 74.1 77.1 73.3 Expense ratio (%) 14.3 14.3 14.7 14.2 Combined ratio (%) 88.9 88.4 91.3 87.6 Operating ratio (%) 86.5 86.7 87.9 85.2 Share buy-back programme 1,128 1104 1578 669