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.
- Return on equity after tax of 16.1% (20.3%).
- Share buy back of DKK 1,000m commenced.
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
Communication Director Steffen Lundgren Kristensen on +45 41 86 28 92 or steffen.kristensen@tryg.dk
