Topdanmark A/S – A “Cannibal” soon to be set on a dividend diet ?
Topdanmark – The Danish Cannibal
Topdanmark, a local Danish Insurance company has been on my extended “to do” list for a long time for 2 reasons: It is the second most profitable European insurance company after Admiral (based on ROE) and as Charlie Munger would call it a “true Cannibal”.
Those are some selected numbers from Topdanmark over the last 18 years:
value and opportunity 