Tryg — Earnings Release 2015

Jan 21, 2016

Tryg’s Supervisory Board has today approved the annual report 2015.

Proposed dividend of DKK 3.50 per share brings total 2015 dividend to DKK 6 per
share. Furthermore, a share buy back of DKK 1,000m is planned for 2016. The
Group’s post tax result of DKK 1,981m was impacted by one-off costs and low
investment return. Significantly improved customer satisfaction by a Net
Promoter Score of 22 corresponding to the target for 2017.

Highlights 2015

-- Profit after tax of DKK 1,981m (DKK 2,557m).
-- Return on equity after tax was 18.9% (23%).

-- Technical result of DKK 2,423m (DKK 3,032m).

-- Combined ratio of 86.8 (84.2).

-- Weather and large claims were DKK 208m higher in 2015 than in 2014.

-- Premium income reduced by 0.8% (-1.1%) in local currencies.

-- Expense ratio of 15.3 (14.6) and 14.9 (15.3) before one-off costs.

-- Investment return of DKK -5m (DKK 360m).

-- Proposed dividend of DKK 3.50 per share and 6.00 including H1 2015
dividend.

-- Share buy back of DKK 1bn completed in 2015. Equivalent programme planned
in 2016.

-- The implementation of solvency II brings the solvency II ratio at 176 as of
1 January 2016

Highlights Q4 2015

• Profit after tax of DKK 721m (DKK 640m).

• Technical result of DKK 522m (DKK 775m).

• Combined ratio of 88.4 (83.7).

• Weather claims impacted combined ratio by 5.4 percentage points (2.6).

• Large claims impacted combined ratio by 3.1 percentage points (4.3).

• Expense ratio of 14.2 (14.9).

• Investment return of DKK 201m (DKK 13m).

Customer highlights 2015

-- NPS improved from 11 to 22 and the target for 2017 are thereby met.
-- Retention rate improved from 87.9 to 88.1.
-- Customers with three or more products increased from 56.3% to 56.7%.
-- Approval of TryghedsGruppen’s members’ bonus scheme by the Danish Business
Authority.

Statement by Group CEO Morten Hübbe:
In 2015, we realised a return on equity after tax of 18.9% against a target of
20%. The return on equity was affected by a very low investment income level
and one-off costs relating to the efficiency programme being implemented by
Tryg in support of its financial targets for 2017.

In 2015, Tryg met the targets of a combined ratio below 90 and an expense ratio
below 15.

In 2015, we maintained a strong focus on enhancing customer experience, while
at the same time optimising our processes and implementing a range of
structural changes in support of our customer and financial targets for 2017.

The year 2015 was also affected by increasing claims costs within some lines of
business. Minor price adjustments and new claims measures will therefore be
introduced in 2016 to improve profitability and prevent increasing claims
inflation.

Conference call
Tryg hosts a conference call today at 9:30 CET. CEO Morten Hübbe and CFO Tor
Magne Lønnum 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

All annual materiel can be downloaded on tryg.com/dk/Investor/Downloads shortly
after the time of release.