Tryg A/S – Interim report Q1-Q3 2013 Tryg’s
Post# of 301275
Tryg’s Supervisory Board has today approved the interim report for Q1-Q3 2013.
Consistent improvements in results achieved through efficiency programme, and cost cuts ensured attainment of the announced target of a combined ratio of 90 or lower.
Highlights for Q3 2013
- Profit before tax of DKK 907m (DKK 976m).
- Technical result of DKK 766m (DKK 652m).
- Improved combined ratio of 2.9 percentage points to 84.8 (87.7).
- Own internal efficiency programme improved results by DKK 110m.
- Decline in premium income of 3.4% impacted by profitability measures and profit sharing.
- Expense ratio improved to 15.5 (16.4).
- The match portfolio yielded a negative result of 33m DKK, while the return on the free investment portfolio totalled 2.0%.
- Return on equity of 27.0% p.a. after tax (29.4%).
Highlights for Q1-Q3 2013
- Profit before tax of DKK 2,354m (DKK 2,379m).
- Technical result of DKK 1,950m (DKK 1,844m).
- Combined ratio improved by 1.2 percentage points 87.3 (88.5).
- Own internal efficiency programme improved results by DKK 270m.
- 2.9% decline in premium income.
- Expense ratio improved to 15.7 (16.5).
- Return of DKK 2m on the match portfolio, and a free investment portfolio return of 5.3%.
- Return on equity of 22.0% p.a. after tax (24.8%).
Tryg has attained the target of a combined ratio of 90 or lower from Q3 2013. Moving forward, the target remains of a return on equity after tax of 20% to be achieved delivering a full-year combined ratio of 90 or below.
Additional information:
For further information, please contact:
- Investor Relations Director Lars Møller on +45 22 66 66 05 or lars.moeller@tryg.dk
- Investor Relations Manager Peter Brondt on +45 22 75 89 04 or peter.brondt@tryg.dk
- Communications Director Steffen Lundgren Kristensen på +45 41 86 28 92 eller steffen.kristensen@tryg.dk
Tryg is the leading provider of “peace of mind” solutions with property & casualty insurance operations in Denmark, Norway and Sweden. Tryg is listed on Nasdaq OMX Copenhagen, and 60% of the shares are held by TryghedsGruppen smba.
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