Brief: Tryg Q4 Gross Premium Income DKK 9,042 Mln, Below Consensus

Tryg A/S

26/01/2023 06:48

Jan 26 (Reuters) - Tryg A/S  TRYG.CO :
    * ANNUAL REPORT 2022
    * Q4 GROSS PREMIUM INCOME DKK  9,042 MILLION (COMPANY
COMPILED
CONSENSUS DKK 9,225 MILLION)
    * Q4 ORDINARY DIVIDEND OF DKK 1.60 PER SHARE (COMPANY
COMPILED
CONSENSUS DKK 1.59)
    * TRYG'S CORE BUSINESS CONTINUED TO DEVELOP POSITIVELY WITH
A
PREMIUM GROWTH OF 5.9%
    * TOP-LINE DEVELOPMENT WAS DRIVEN PRIMARILY BY PRIVATE AND
COMMERCIAL BUSINESSES
    * IN SPITE OF EXTERNAL GEOPOLITICAL AND MACROECONOMIC
CHALLENGES,
WE PERFORM WELL AND CONTINUE TO DELIVER A SOLID TECHNICAL RESULT
OF DKK 6,177 MILLION
    * LOOKING SPECIFICALLY TO Q4, WE SAW A GROWTH OF 6.7% AND
REPORTED
HIGHEST EVER TECHNICAL Q4 RESULT OF DKK 1,689 MILLION
    * INTEGRATION OF TRYGG-HANSA AND CODAN NORWAY IS PROGRESSING
ACCORDING TO PLAN
    * IMPORTANTLY WE WILL BOOK FINAL DKK 300 MILLION OF
INTEGRATION
COSTS IN 2023
    * IN 2023 SEES POSITIVE  TOP LINE GROWTH ALTHOUGH SOME
NEGATIVE
IMPACT IS EXPECTED FROM CONVERSION OF  CUSTOMERS FROM CODAN
NORWAY TO TRYG NORWAY
    * REMAINING ABOUT DKK 300M OF INTEGRATION COSTS RELATED TO
CODAN 
NORWAY, TRYGG-HANSA DEAL WILL BE  BOOKED IN H1 2023 AGAINST
OTHER INCOME AND  COSTS LINE

Source text for Eikon:  ID:nGNEcfCq0s 
Further company coverage:  TRYG.CO 
 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 772 0920;))