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Tryg — Earnings Release 2014
Apr 10, 2014
3389_rns_2014-04-10_6a30afd7-26e2-4365-9e49-43883908d443.pdf
Earnings Release
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Tryg A/S / 1st Quarter Results
10.04.2014 07:30
Dissemination of a Regulatory Announcement, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement.
Tryg's Supervisory Board has today approved the interim report for Q1 2014.
Good results of DKK 455m with a 5% increase in the technical result despite a higher level of large claims of DKK 150m. The Group's efficiency programme is progressing according to plan, contributing significantly to results.
Highlights for Q1 2014
- Profit before tax of DKK 602m (DKK 759m).
- Technical result of DKK 523m (DKK 500m).
- Combined ratio of 89.2 (90.3) is impacted positively by cost and claims measures.
- Claims ratio, net of ceded business, of 73.3 (74.3) with improvement in Private, Commercial and Sweden.
- The 2% reduction in premiums reflects a reduction in the Nordea portfolio in Sweden and the impact of the profitability measures implemented in Commercial.
- Lower expense ratio of 15.9 (16.0) and reduction in nominal expenses of more than 2% in local currencies.
- Lower investment return of DKK 89m (DKK 269m) primarily due to a lower return on equities.
- Return on equity after tax of 16.1% (20.3%).
- Share buy back of DKK 1,000m commenced.
Additional information:
For further information, please contact:
Investor Relations Director Lars Moeller on +45 22 66 66 05 or [email protected]
Investor Relations Manager Peter Brondt on +45 22 75 89 04 or [email protected]
Communication Director Steffen Lundgren Kristensen on +45 41 86 28 92 or [email protected]
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https://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=468927
News Source: NASDAQ OMX
10.04.2014 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
Denmark
Phone:
Fax:
E-mail:
Internet:
ISIN: DK0060013274
Category Code: QRF
TIDM: OGBV
Sequence Number: 1985
Time of Receipt: Apr 10, 2014 07:30:01
End of Announcement
DGAP News-Service