Tryg’s Supervisory Board has today approved the interim report for Q1 2014.
Good results of DKK 455m with a 5% increase in the technical result despite a higher level of large claims of DKK 150m. The Group’s efficiency programme is progressing according to plan, contributing significantly to results.
Highlights for Q1 2014
Profit before tax of DKK 602m (DKK 759m).
Technical result of DKK 523m (DKK 500m).
Combined ratio of 89.2 (90.3) is impacted positively by cost and claims measures.
Claims ratio, net of ceded business, of 73.3 (74.3) with improvement in Private, Commercial and Sweden.
The 2% reduction in premiums reflects a reduction in the Nordea portfolio in Sweden and the impact of the profitability measures implemented in Commercial.
Lower expense ratio of 15.9 (16.0) and reduction in nominal expenses of more than 2% in local currencies.
Lower investment return of DKK 89m (DKK 269m) primarily due to a lower return on equities.
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