Danish insurer Tryg slides on Q2 miss as weather claims weigh

Tryg A/S

11/07/2023 08:47

** Shares in Tryg  TRYG.CO  fall 4.5% after the Danish
insurer reported Q2 pre-tax profit below market expectations
    ** Tryg's Q2 technical result was DKK 1.76 billion ($260
million), 3.8% below the consensus number of DKK 1.83 billion
    ** The results were hit by higher weather claims and weak
investment activity, Jyske Bank analysts say, adding Q2 net
profit 13% below consensus could prompt negative estimate
adjustments
    ** Tryg's peer Topdanmark  TOP.CO  also falls 2.4% in early
trading after it cut its profit forecast for 2023 citing lower
investment level

($1 = 6.7661 Danish crowns)

 (Reporting By Jesus Calero)
 ((Jesus.calero@thomsonreuters.com))