Highlights (compared with the first quarter of 2007) • 4.9% gross earned premium growth (5.9% in DKK) in the first quarter of 2008. By comparison, the increase from the first quarter of 2006 to 2007 was 1.7% • 3.6% gross earned premium growth and enhanced profitability in Private & Commercial Norway • Technical result was up 20% to DKK 637m • Combined ratio improved by 1.7 percentage points to 87.9 • Pre-tax profit of DKK 261m, a decline of DKK 422m caused by declining equity prices • 10.4% return on equity before tax • TrygVesta upgrades its expectations for the technical result for 2008 by 9% to DKK 2.4bn and improves the combined ratio forecast from 90 to 89. Premium growth expectations are maintained, and profit before and after tax is downgraded due to equity price falls. • New motor insurance initiatives in Denmark enhance customer experience • TrygVesta buys its Ballerup head office, which was previously leased, for DKK 1,085m • New customer system implemented in Norway