Tryg rises as it reports Q4 beat despite higher weather claims

Tryg A/S

25/01/2024 11:16

** Shares in Tryg  Tryg.co  rise around 4% after the Danish
insurer posted Q4 net income and revenue above estimates,
despite elevated weather claims
    ** Its net profit came in at 1.2 billion Danish crowns vs
1.1 billion crows expected by analysts in a company-compiled
consensus, while insurance revenue was around 1% higher than
estimates
    ** Combined ratio was 82.4%, 0.5% lower than estimates, but
Jefferies says the underlying combined ratio has improved by
50bps year-on-year in Q4
    ** Though the company says weather had a negative impact on
the results, Jefferies notes weather claims were in line with
consensus, unlike in peers
    ** Tryg also proposes a dividend of 1.85 crowns per share
for 2023, up from 1.6 crowns from last year



 (Reporting by Agnieszka Olenska)
 ((Agnieszka.Olenska@thomsonreuters.com;))