Tryg expected to open down as Q3 profit misses estimates

Tryg A/S

13/10/2022 07:58

** Shares of Tryg  TRYG.CO  are expected to fall between
3-5% after the Danish insurer's Q3 pre-tax profit missed market
expectations  urn:newsml:reuters.com:*:nTUA2Q9DK6
    ** Stifel says the pre-tax profit of DKK 0.96 bln ($125.2
mln) is below the broker's estimate of DKK 1.18 bln and the
company-compiled consensus of DKK 1.08 bln
    ** The company delivered Q3 combined ratio of 81.1%, below
Stifel's 82.8% estimate but still above consensus of 80.4%
    ** While the Q3 technical result of DKK 1.83 bln met
expectations, it was negatively impacted by higher-than-expected
large claims at DKK 392 mln, which Jyske Bank analysts say took
the sting out of an otherwise fine Q3 report
($1 = 7.6671 Danish crowns)
 (Reporting by Agata Rybska)
 ((agata.rybska@thomsonreuters.com))