Tryg jumps to top of STOXX on Q3 beat, share buyback

Tryg A/S

13/10/2023 08:21

** Shares in Tryg  TRYG.CO  rise 5.9% after the Danish
insurer posted Q3 earnings beat and announced a share buyback
programme
    ** Q3 pretax profit came in 16% ahead of consensus at DKK
1.23 billion ($173.87 million)
    ** The group also launched a DKK 1 billion share buyback
programme and announced a quarterly dividend of DKK 1.85 per
share
    ** "The beat itself appears to primarily be the result of
investment income, where the match portfolio offset negative
movements on risk assets in the free portfolio," Jefferies says
in a note
    ** The stock soars to the top of pan-European STOXX 600
index  .STOXX  and will see its best day since March 2020, if
gains hold
    


($1 = 7.0742 Danish crowns)

 (Reporting by Jagoda Darlak)
 ((Jagoda.Darlak@thomsonreuters.com; +48 58 769 65 40;))