Tryg’s Supervisory Board has today approved the annual report 2018.
Technical result before Alka of DKK 2,826m (DKK 2,789m) and premiums growth of 6.3% including Alka and portfolio acquisitions. Pre-tax result as reported of 2,262 and investment result of DKK -332m (DKK 527m) driven by highly negative equity markets. Quarterly dividend of DKK 1.65 per share bringing the total dividend for year to DKK 6.60 per share and supporting TryghedsGruppen’s member bonus. Solvency ratio of 165.
Financial highlights 2018
| Tryg before Alka transaction | Tryg as reported |
| Technical result DKK 2,826m (DKK 2,789m) | Technical result DKK 2,766m (DKK 2,789m) |
| Premiums growth local currencies 4.1% (1.7%) | Premiums growth local currencies 6.3% (1.7%) |
| Investment result DKK -332m (DKK527m) | |
| Pre-tax result DKK 2,262m (DKK 3,239m) |
Financial highlights Q4 2018
| Tryg before Alka transaction | Tryg as reported |
| Technical result DKK 656m (DKK 622m) | Technical result DKK 596m (DKK 622m) |
| Premiums growth local currencies 4.5% (1.9%) | Premiums growth local currencies 13.0% (1.9%) |
| Investment result DKK -330m (DKK86m) | |
| Pre-tax result DKK 149m (DKK 685m) |
Customer highlights 2018
- TNPS of 67 (62)
- Number of products per customer of 3.8 (3.5)
Statement by Group CEO Morten Hübbe:
We are pleased to present an improved technical result before the Alka even though weather and large claims were at a higher level compared to 2017. We continue to see a good premium growth for the Group primarily driven by the Private & Commercial segment, which also is reflected in the highest customer satisfaction and retention level ever.
In 2018 Tryg had a strong focus on digitalisation with the result that digital contacts to Tryg for the first time ever exceeded telephone contacts, which also can be seen from the fact that 60% of our customers prefer self-service solutions.
We are very pleased that Alka is now part of our business, the merged group will benefit from broader competences in different fields. The stand-alone technical result for Alka was DKK 342m for 2018 (of which DKK 63m was included in Tryg results) which supports our view of a strongly run business. We welcome Alka’s 370,000 customers and employees in the Tryg Group, the customers will be eligible for TryghedsGruppen’s member bonus. In 2018 we also welcomed 20,000 customers from FDM Forsikring and 12,000 customers from Troll in Norway.
Conference call
Tryg hosts a conference call today at 10:00 CET. CEO Morten Hübbe and Interim CFO Ulrik Andersson will present the results in brief followed by Q&As.
The conference call will be held in English. An on-demand version will be available shortly after the conference call has ended.
Conference call details:
Danish participants: +45 35 44 55 83
UK participants: +44 (0) 203 194 0544
US participants: +1 855 269 2604
The annual report material can be downloaded on https://tryg.com/en/downloads-2018 shortly after the time of release.
Contact information:
- Gianandrea Roberti, Investor Relations Officer +45 20 18 82 67 gianandrea.roberti@tryg.dk
- Peter Brondt, Investor Relations Manager +45 22 75 89 04 peter.brondt@tryg.dk
- Tanja Frederiksen, Head of Communications +45 51 95 77 78 tanja.frederiksen@tryg.dk
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