Based on a new assessment of its engagement with the company Pihl & Søn A/S within the business area of guarantee insurance Tryg Forsikring A/S has decided to make further provisions for this engagements to the extent of DKK 0.7 bn hereafter. Net of reinsurance, the total accounting effect for this claim is limited to DKK 30m.
Guarantee insurance in Tryg is covered by the subsidiary company, Tryg Garanti A/S, which is specialised within this type of business being the largest surety insurance company in the Nordic region. Due to the nature of this line of business, reinsurance is employed to a larger extent than in other parts of Tryg’s insurance portfolio. Consequently, the accounting effect of a single claim within guarantee insurance is limited to DKK 30m, and this is a contributory factor in Tryg Garanti A/S being a profitable activity over time despite a few large claims.
Additional information
For further information visit www.tryg.com or contact Investor Relations;
- Investor Relations Director Lars Møller on +45 44 20 45 17 or lars.moeller@tryg.dk
- Investor Relations Manager Peter Brondt on +45 22 75 89 04 or peter.brondt@tryg.dk
- CCO Troels Rasmussen on +45 30 35 30 70 or troels.rasmussen@tryg.dk
Tryg is the leading Nordic provider of “peace of mind” solutions with property and 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.
