Tryg A/S
CSE:TRYG
Tryg A/S
Tryg A/S, rooted in its Scandinavian heritage, stands as a significant player in the insurance landscape of Northern Europe. Established over a century ago, the company evolved from its humble beginnings into a leading insurer by embracing a culture centered around trust, security, and innovative risk management. Headquartered in Denmark, Tryg's operations stretch across Denmark, Norway, and Sweden, catering to a diverse range of insurance needs, from personal lines to commercial enterprises. At the heart of Tryg's business model is its robust underwriting process, which meticulously assesses risks and sets premiums accordingly. This allows them to offer a wide array of insurance products including property, car, and liability insurance, thus safeguarding the assets and peace of mind of millions of individuals and businesses.
The company’s financial strength is underpinned by its adept risk assessment and claims management strategies, through which it maximizes efficiency and profitability. By employing advanced data analytics, Tryg effectively predicts risk patterns, enabling the customization of insurance products to better meet customer demands. Additionally, Tryg has forged strong relationships with local brokers and agents, ensuring its reach and influence in the regional market. The company's acquisition strategies, most notably its partnership with the UK's RSA Insurance Group, bolstered its capability and market share, enabling cross-border synergy and operational efficiency. Through these strategic maneuvers, Tryg continuously enhances its revenue streams, maintaining its status as a reliable insurance provider while adapting to the evolving market dynamics and consumer expectations.
Strong ISR: Insurance service result exceeded DKK 2.3 billion, supported by a strong combined ratio of 77.2%.
Solid Revenue Growth: Insurance revenue was up 4%, with the Private segment growing 4.4%.
Norway Improvement: Norwegian combined ratio improved significantly to 82.1% in Q2 and 88.5% for H1, driven by repricing and profitability actions.
Stable Investment Result: Investment result was DKK 110 million, matching normalized expectations.
Dividend & Capital: Q2 dividend per share of DKK 2.05 and a solvency ratio of 199%, up from 195% last quarter.
Customer Satisfaction: Customer satisfaction score reached 82, close to the 2027 target of 83, with notable improvement in Sweden.
Expense Ratio: Maintained low expense ratio at 13.5%, with slight nominal increase reflecting strategic investments.
Guidance Affirmed: Management reiterated 2027 financial and customer targets, including combined ratio around 81% and insurance service result between DKK 8–8.4 billion.
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