Denmark's Tryg Q3 insurance revenue rises 4.1%, combined ratio improves
Denmark's Tryg Q3 insurance revenue rises 4.1%, combined ratio improves
Overview
Denmark insurer's Q3 insurance revenue grew 4.1% in DKK, supported by improved claims ratio
Q3 insurance service result reached record high, combined ratio improved to 76.8%
Investment result declined amid market volatility and interest rate changes
Outlook
Company expects new motor partnerships to support profitable growth in coming years
Tryg says strong solvency ratio supports future shareholder remuneration
Result Drivers
CLAIMS RATIO IMPROVEMENT - Co said underlying claims ratio improved, with notable gains in Norway
BENIGN CLAIMS ENVIRONMENT - Co attributed result to low levels of large and weather-related claims
NEW MOTOR PARTNERSHIPS - Co said new partnerships with Mercedes-Benz, Tesla and XPENG expected to support future motor segment growth
Company press release: ID:nGNE58Slt9
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Combined Ratio |
| 76.80% |
|
Q3 Pretax Profit |
| DKK 2.12 bln |
|
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 6 "strong buy" or "buy", 6 "hold" and 3 "sell" or "strong sell"
The average consensus recommendation for the property & casualty insurance peer group is "buy."
Wall Street's median 12-month price target for Tryg A/S is DKK161.75, about 12.4% above its October 8 closing price of DKK143.90
The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 17 three months ago
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)