Brief: Tryg Q1 Insurance Revenue DKK 9,189 Mln

Tryg A/S

20/04/2023 08:22

April 20 (Reuters) - Tryg A/S  TRYG.CO :
    * REPORT 2023
    * Q1 COMBINED RATIO WAS 84.0 (88.9) HELPED BY SIGNIFICANTLY
HIGHER
INTEREST RATES AND MUCH LOWER LARGE AND WEATHER CLAIMS COMPARED
TO Q1 2022
    * Q1 INSURANCE SERVICE RESULT (PREVIOUSLY CALLED TECHNICAL
RESULT)
TOTALLED DKK 1,474M (DKK 1,014M)
    * Q1 PRE-TAX RESULT WAS DKK 1,187M
    * WE ARE PLEASED TO ANNOUNCE A QUARTERLY DIVIDEND PER SHARE
OF DKK
1.85 - AN INCREASE OF ALMOST 20% FROM Q1 2022 DRIVEN BY FULL
INCLUSION OF CODAN NORWAY AND TRYGG-HANSA, SYNERGIES DELIVERY
AND IMPROVEMENTS IN UNDERLYING BUSINESS
    * 2023 OUTLOOK: TRYG HAS IDENTIFIED SYNERGIES FROM THE
ACQUISITION
OF CODAN NORWAY AND TRYGG-HANSA OF DKK 350M IN 2022, GROWING TO
DKK 650M IN 2023 AND DKK 900M IN 2024
    * 2023 OUTLOOK: AT THE TIME OF WRITING THE Q1 REPORT, TRYG
IS
DISCLOSING THAT DKK 120M OF THE REMAINING DKK 300M OF
INTEGRATION COSTS ARE BOOKED IN Q1 AND THEREFORE ARE EXPECTED TO
BE BOOKED IN Q2
    * Q1 INSURANCE REVENUE GROWTH (PREMIUM GROWTH) OF 4.6%
(5.9%) IN
LOCAL CURRENCIES
    * Q1 INSURANCE REVENUE WAS DKK 9,189M (DKK 9,133M)

Source text for Eikon:  ID:nGNE83L9KX 
Further company coverage:  TRYG.CO 

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com;))