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Tryg — Earnings Release 2011
May 11, 2011
3389_rns_2011-05-11_7fcdd5b8-ccbd-4e82-9b94-8fcef8629cea.pdf
Earnings Release
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Tryg A/S / 1st Quarter Results
11.05.2011 17:01
Dissemination of a UK Regulatory Announcement, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement.
Pre-tax profit improved by DKK 474m to DKK 361m. The result is positively impacted by premium increases, strict cost control and a normal level of winter claims. Combined ratio improved by 12.7 percentage points. Q1 2011 results (compared with Q1 2010)
-- Technical result was DKK 276m against DKK -354m in 2010.
-- Premium growth of 5.4% in local currency terms in the first quarter of 2011 - growth within Private Nordic of more than 9% as a result of premium increases and organic growth in Sweden and Finland.
-- Gross claims ratio of 75.7 compared with 88.9. Gross claims ratio was positively affected by implemented premium increases and other profitability improving initiatives.
-- Winter claims were at a normal level in the first quarter of 2011 and storm expenses were DKK 57m. Fewer large claims than expected were reported in the quarter, however, an increase in medium-sized claims.
-- The match portfolio yielded a return of DKK 4m after transfer to technical interest rate. The free investment portfolio yielded a return of DKK 188m or 2.1% (around 8.5% p.a.).
-- Return on equity after tax of 12.6% p.a.
Download the interim report, tables and presentations on tryg.com/download.
Webcast and teleconference
On Thursday 12 May 2011 at 9:00 CET, Tryg hosts a webcast and teleconference, where questions can be asked to CEO Morten Huebbe and IR Director Ulrik Andersson. The teleconference is in English. Interested can participate on telephone +44 207 509 5139 or +45 32 71 47 67.
Contact
-- Investor Relations Director Ulrik Andersson, +45 21 71 30 18 or [email protected]
-- Investor Relations Manager Lars Moller, +45 22 66 66 05 or [email protected]
-- Chief Communications Officer Troels Rasmussen, +45 30 35 30 70 or [email protected]
News Source: NASDAQ OMX
11.05.2011 DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de
Language: English
Company: Tryg A/S
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Denmark
Phone:
Fax:
E-mail:
Internet:
ISIN: DK0060013274
Category Code: QRF
LSE Ticker: 0GBV
Sequence Number: 799
Time of Receipt: May 11, 2011 17:01:01
End of Announcement
DGAP News-Service