Core Insights - The company reported satisfactory Q3 results, leading to an upgrade of profit before tax by DKK 150 million, excluding special costs [1] - The CEO highlighted a strong inflow of new customers and progress in the merger of Codan and Alm. Brand, aiming to meet ambitious financial targets for 2025 [1][2] Financial Performance - Guidance for the insurance service result has been raised by DKK 100 million, now specified to DKK 1.75-1.85 billion [3] - Investment result guidance increased by DKK 50 million to DKK 300 million [3] - Q3 2025 insurance service result showed a profit of DKK 535 million, up from DKK 400 million, with a combined ratio improving to 82.2 from 85.7 [3] - Insurance revenue grew by 7.5% to DKK 3,006 million, driven by a 9.9% increase in Personal Lines premiums [3] - The underlying claims experience improved by 3.2 percentage points to 61.4, aided by favorable developments in Commercial Lines [3] - The expense ratio improved to 15.8 from 17.1, reflecting the group's cost-reduction objectives [3] - Synergy initiatives generated a positive accounting effect of DKK 158 million in Q3 2025, with expectations to realize over DKK 600 million in synergies for 2025 [3] - The investment result was satisfactory at DKK 66 million, with shares and bonds contributing positively [3] - Consolidated profit before tax reached DKK 452 million, up from DKK 376 million [3] - The company maintained a high SCR ratio of 254% in Q3 2025 based on PIM approval [3]