Tryg’s Supervisory Board has today approved the annual report 2011.
With a technical result of DKK 1,534m and a result after tax of 1,140m, Tryg took another step towards achieving the mid-term target of a return on equity of 20% after tax. The result is satisfactory and is achieved in a year impacted by storms and cloudbursts and turbulence on the financial markets.
Highlights 2011
- Profit after tax for the year was DKK 1,140m, compared to DKK 593m in 2010.
- Technical result of DKK 1,534m, compared to DKK 375m in 2010.
- Combined ratio of 93.5, against 98.8 in 2010.
- The year was impacted by storm and cloudburst claims, which amounted to SKK 1.6bn, as against DKK 291m in 2010.
- The cloudburst in the Copenhagen area on 2 July resulted in expenses before reinsurance of DKK 1.2m and affected the result by DKK 196m.
- Higher level of large claims than in 2010: DKK 858m, as against DKK 813m.
- The expense ratio improved from 17.0 to 16.8.
- Return on equity after tax of 13.1%, as against 6.6% in 2010.
- Cash dividend of DKK 400m, equivalent to DKK 6.52 per share.
Highlights Q4 2011
- Profit after tax of DKK 334m.
- Technical result of DKK 271m.
- Combined ratio of 95.5.
- The quarter was effected by claims costs arising from storms Berit and Dagmar, with weather claims totalling DKK 305m.
- A high level of large claims totalling DKK 398m.
- Expense ratio of 17.4.
