Brief: Tryg Q1 Insurance Revenue At DKK 9,531 Million

Tryg A/S

17/04/2024 06:57

April 17 (Reuters) - Tryg A/S  TRYG.CO :
    * COMBINED RATIO OF 86.6 (84.0) IN Q1, HIT BY MORE THAN DKK
180M
HIGHER THAN NORMAL WEATHER AND LARGE CLAIMS LEVEL
    * INVESTMENT RESULT WAS DKK 117M (DKK 167M) MAINLY IMPACTED
BY
POSITIVE RETURNS FROM EQUITIES AND COVERED BONDS
    * Q1 WAS CHARACTERISED BY A HIGH LEVEL OF WEATHER AND LARGE
CLAIMS, AND AN INCREASED FREQUENCY OF MOTOR CLAIMS
    * SCANDINAVIAN NON-LIFE INSURANCE MARKETS REMAIN GENERALLY
STABLE
    * Q1 INSURANCE REVENUE DKK 9,531 MILLION (COMPANY COMPILED
CONSENSUS DKK 9,574 MILLION)
    * CONTINUES TO EXPECT POSITIVE TOP-LINE GROWTH IN 2024,
PRIMARILY
DRIVEN BY THE PRIVATE AND COMMERCIAL SEGMENTS
    * OVERALL TAX RATE FOR FULL-YEAR 2024 IS EXPECTED TO BE
APPROXIMATELY 24%
    * REITERATES TARGETS: INSURANCE SERVICE RESULT DKK
7.2-7.6BN;
COMBINED RATIO AT OR BELOW 82%; EXPENSE RATIO AT ABOUT 13.5%

Source text for Eikon:  ID:nGNE62PRwh 
Further company coverage:  TRYG.CO 

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