Brief: Tryg Q2 Insurance Revenue Down At DKK 9.20 Bln

Tryg A/S

11/07/2023 08:21

July 11 (Reuters) - Tryg A/S  TRYG.CO :
    * Q2 AND H1 REPORT 2023
    * SATISFACTORY INSURANCE SERVICE RESULT AND POSITIVE CAPITAL
MARKETS DEVELOPMENT
    * HIGHER LARGE AND WEATHER CLAIMS, AND HIGHLY ADVERSE
CURRENCIES
DEVELOPMENT.
    * Q2 INSURANCE REVENUE GROWTH (PREMIUM GROWTH) OF 3.9%
(6.0%) IN
LOCAL CURRENCIES
    * Q2 INSURANCE SERVICE RESULT (TECHNICAL RESULT) OF DKK
1,759M
(DKK 2,021M)
    * A HIGH LEVEL OF WEATHER EVENTS WAS REPORTED IN Q2,
INCLUDING A
CLOUDBURST IN DENMARK
    * 2023 OUTLOOK: TRYG 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
    * TO ANNOUNCE A QUARTERLY DIVIDEND PER SHARE OF 1.85, AN
INCREASE
OF ALMOST 20% FROM Q2 2022
    * Q2 INSURANCE REVENUE DKK 9,200 MILLION VERSUS DKK 9,481
MILLION
YEAR AGO
    * IN GENERAL, WE SAW A SLIGHT  DETERIORATION IN RENEWAL
RATES FOR
COMMERCIAL  CUSTOMERS DUE TO PRICE ADJUSTMENTS
    * MACROECONOMIC UNCERTAINTY PREVAILS, WHICH COULD  RESULT IN
SLIGHTLY INCREASED VOLATILITY IN RESULTS BETWEEN QUARTERS
    * 2023 OUTLOOK: INTANGIBLES AMORTISATION DO NOT IMPACT THE
DIVIDEND  CAPACITY OF THE COMPANY

Source text for Eikon:  ID:nGNE8mLNvm 
Further company coverage:  TRYG.CO 

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