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Tryg — Earnings Release 2025
Jan 22, 2026
3389_10-k_2026-01-22_9090490b-b44c-4728-9f29-9af68bdc70a8.html
Earnings Release
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Tryg Forsikring A/S - Financial Highlights 2025
Tryg Forsikring A/S - Financial Highlights 2025
Tryg Forsikring's full Annual report for 2025 will be published 5 February 2026
Annual report 2025 for the entire Tryg Group is available on Tryg.com.
Tryg Forsikring reported an insurance service result of DKK 7,945m (DKK 7,056m)
and a combined ratio of 80.3% (81.7%) in 2025. The higher insurance service
result was supported by the profitability turnaround in Norway, a growth of
3.8% (4.1%) in local currencies, and a continued underlying profitability
improvement. The investment result was at DKK 757m (DKK 910m). Pre-tax profit
was DKK 7,320m (DKK 6,423m) and profit after tax was DKK 5,495m (DKK 4,911m).
Solvency ratio at the end of 2025 was 196% (202% H1 2025).
Financial highlights 2025
* Insurance revenue growth of 3.8% in local currencies (4.1%)
* Insurance service result of DKK 7,945m (DKK 7,056m)
* Combined ratio of 80.3% (81.7%)
* Expense ratio of 13.4% (13.5%)
* Investment result of DKK 757m (DKK 910m)
* Profit before tax of DKK 7,320m (DKK 6,423m)
* Solvency ratio of 196% (202% H1 2025)
Customer highlights 2025
* Customer satisfaction score of 82 (baseline 2024 is 81)
Statement by Tryg Group CEO, Johan Kirstein Brammer:
2025 was yet another eventful year for Tryg with strong deliveries on our
commitments to customers and shareholders. We have had a solid start to the new
strategy period with positive developments in our insurance service result and
combined ratio. At the same time, we have managed to increase customer
satisfaction and helped our customers through almost 2 million claims this year.
Tryg is tracking very well to reach its financial and strategic 2027 targets by
scaling and simplifying our IT landscape, ensuring significant profitability
improvement especially in Norway, and by entering several new partnerships
across Scandinavia. We look forward to further strengthening our commercial
momentum and investing in customer facing technology to support a profitable and
disciplined growth. A resilient business continues to be the crucial foundation
for helping customers in uncertain times.
New accounting policy: Adjusted financial key figures
In March 2025, Tryg published a newsletter on a change in the hedging strategy
of inflation risk related to long-tailed lines of business. In accordance with
accounting regulation, comparison figures have been restated. Restatements
affect FY 2024 figures. The restatement simply moves income between the
insurance service result and the investment result, and hence the profit/loss
before tax is unchanged. For more details on the inflation hedge, see the IR
newsletter (http://invalid.uri).
Tryg Forsikring - Restated key figures for 2024:
+--------------------------+---------+----------+----------+
| | | FY 2024 | FY 2024 |
| DKKm | FY 2025 | reported | restated |
+--------------------------+---------+----------+----------+
| Insurance service result | 7,945 | 7,324 | 7,056 |
+--------------------------+---------+----------+----------+
| Net investment result | 757 | 641 | 910 |
+--------------------------+---------+----------+----------+
| Other income and costs | -1,383 | -1,543 | -1,543 |
+--------------------------+---------+----------+----------+
| Profit/loss before tax | 7,320 | 6,423 | 6,423 |
+--------------------------+---------+----------+----------+
Contact information:
* Gianandrea Roberti, Head of Financial Reporting, SVP, +45 20 18 82 67,
[email protected] (mailto:[email protected])
* Robin Hjelgaard Løfgren, Head of Investor Relations, +45 41 86 25 88,
[email protected] (mailto:[email protected])
* Camilla Lercke Odgaard, Head of Communications, SVP +45 53 39 23 84,
[email protected] (mailto:[email protected])
Visit tryg.com (http://www.tryg.com) for more information.