Corporate Announcement no. 28/2023: Half-Year Report 1 January 2023 – 30 June 2023
Copenhagen, 31 August 2023
The Board of Directors and the Management have today discussed and approved the Half-Year Report of Ress Life Investments A/S and the Group for the period 1 January 2023 – 30 June 2023:
- Ress Life Investments A/S realised a net loss before and after tax of USD 780,933 for the period 1 January 2023 – 30 June 2023. The net loss for the period corresponds to a net return on equity of -0.2 %, a loss per share of USD 4.71 and a decrease in net asset value of USD 5.06 per share.
- The loss before tax mainly arises from actual numbers of maturities being below expected maturities and the average size of maturing policies has also been below average policy size.
- The fair value of the Group’s investment assets decreased from USD 374,615,230 at 31 December 2022 to USD 365,153,223 at 30 June 2023.
- Equity stands at USD 371,118,943 as of 30 June 2023, corresponding to a net asset value of USD 2,394 per share compared with a net asset value of USD 2,399 at 31 December 2022.
- During the period, 7,193 new ordinary shares were issued.
- Management expects that the life settlements market continues to offer attractive returns for the medium term.
- Management maintains expectations that the full year result will be positive.
Questions related to this announcement can be made to the Group’s AIF-manager, Resscapital AB, Gustaf Hagerud, telephone: (+46) 8 545 282 27, or to the Group’s Chairman Søren Andersen, email: soan@norli.dk.
Yours sincerely
Ress Life Investments A/S
The Board of Directors
Attachments
- Ress Life Investments AS – Corporate Announcement 28-2023
- Ress Life Investments AS – Half Year Report 2023
