Tryg

Interim / Quarterly Report • Jul 15, 2024

List of Signatures Page 1/2

= Half-year report 2024 - Tryg Forsikring AS.pdf

Name	Method	Signed at
Steffen Kragh	MitID	2024-07-11 09:26 GMT+02
Osvold, Mette	BANKID	2024-07-11 09:23 GMT+02
	MitID	2024-07-11 09:16 GMT+02
Allan Kragh Thaysen	MitlD	2024-07-11 08:31 GMT+02
Charlotte Dietzer	MitID	2024-07-11 08:28 GMT+02
Anna Lena Maria Darin	BANKID	2024-07-11 09:32 GMT+02
Gunnar Elias Bakk	BANKID	2024-07-11 08:27 GMT+02
Lars Ulrik Bonde	MitID	2024-07-11 08:23 GMT+02
Jukka Pekka Pertola	MitlD	2024-07-11 11:04 GMT+02
Agerup, Benedicte E Bakke	BANKID	2024-07-11 08:23 GMT+02
Tina Snejbjerg	MitID	2024-07-11 10:00 GMT+02
Anne Kjer Kaltoft	MitID	2024-07-11 08:22 GMT+02
Jørn Rise Andersen	MitlD	2024-07-11 16:37 GMT+02

List of Signatures Page 2/2

Name	Method	Signed at
	MitlD	2024-07-11 13:50 GMT+02
MIKAFI KARRSTEN	BANKID	2024-07-11 17:33 GMT+02
Thomas Peider Holman-Banq	MitlD	2024-07-11 11:07 GMT+02
Mengmeng Du	BANKID	2024-07-11 11:06 GMT+02
Claus Wistoft	Milli	2024-07-11 12:07 GMT+02
Carl-Viggo Johannes Östlund	BANKID	2024-07-11 11:09 GMT+02

Half-year report 2024 Tryg Forsikring A/S

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ne A/S - (CVR-no. 24260666

Contents

Management's review

Income overview	Tryg Forsikring's results Private	Commercial	Corporate	Investment activities	Solvency and dividend	Financial outlook

이 이 은 글

Financial statements

Statement by the Supervisory Board and the
Executive Board	13
Tryg Forsikring Group
Income statement	14
Statement of comprehensive income	15
Statement of financial position	16
Statement of changes in equity	17
Cash flow statement	20
Notes	21
Tryg Forsikring A/S (parent company)
Income and comprehensive Income
statement	29
Statement of financial position	30
Statement of changes in equity	32
Notes	ਤੇ ਵੱ
Glossary, key ratios and alternative
o performance measures	36
Disclaimer	ਦੇ ਮੈ

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ିତ

Management's review - Contents

Income overview

		H1	H1	Full Year
	DKKm	2024	2023	2023
	Insurance revenue	19,077	18,390	37,135
	Gross claims	-12,861	-12,800	-25,270
	Insurance operating costs	-2.593	-2,440	-4,959
	Insurance service expenses	-15,454	-15,240	-30,229
	Profit/loss on gross business	3,622	3,150	6.906
	Net expense from reinsurance contracts	-136	83	-507
	Insurance service result	3.486	3.233	6.399
	Net Investment result	418	236	615
	Other income and costs	-746	-955	-1,815
	Profit/loss before tax	3,159	2,514	5,199
	x81	-72B	-631	-1,206
	Profit/loss	2,431	1,883	3,993
	net of reinsurance Run-off gains/losses,	617	510	1,099
	Key Ratlos
	Total equity	39.690	39.954	40.062
	Return on equity after tax (%)	12.2	9.1	9.6
	F Return on Own Funds	32.0	25.8	25.6
	Return on Tangible Equity (%)	47.3	32.1	35.8
	Revenue growth in local currencies (%)	4.4	4.3	4.8
	Gross claims ratio	67.4	ea.B.	0.889
	Net reinsurance ratio	0.7	-0.4	1.4
	nsurance Claims ratio, net of rei	GB.1	69.2	69.4
	Expense ratio	13.6	13.3	13.4
	Combined ratio	81.7	82.4	82.8
	Run-off, net of reinsurance (%)	-3.2	-2.8	-3.0
	nsurance (%) Large claims, net of re	1.9	3,1	2.7
of the document	Weather claims, net of reinsurance (%)	2.5	1.9	3.4
Completer of Color Porto Comerarelal Componing Color Color Comments Comportante Componente Comments This file is sealed with a digital signature. The seal is a guarantee for the authenticity
	Combined ratio by business area
		84.0	84.0	84.5
		76.6	79.7	78.1
		78.9	78.6	83.2
	78.02.90

of the document.

Tryg Forsikring's results

H1 2024 results

related claims compared to the same period last the Corporate business was adversely impacted by price adjustments across all segments whilst The H1 2024 insurance service result was DKK 3,486m (DKK 3,233m). The claims ratio, net of measured in local currency was mainly driven initiatives and the rebalancing of the portfolio. by higher churn as a consequence of price characterised by a higher level of weather-Insurance revenue growth of 4.4% (4.3%) reinsurance, was 68.1% (69.2%) and vear.

Insurance revenue

premium growth of 4.4% mainly driven by price Corporate business was adversely impacted by nitiatives and the rebalancing of the portfolio. Insurance revenue was DKK 19,077m (DKK adjustments across all segments whilst the 18,390m in H1 2023), corresponding to higher churn as a consequence of price

Claims

The claims ratio, net of reinsurance, was 68.1% sum of weather and large claims compared to (69.2% in H1 2023) and characterised by the the same period last year.

Expenses

This file is s

The expense ratio was 13.6% (13.3% in H1

The Skeense ratio was 13.6% (13.3% in H1

with a digital signature.

18:00:40

Half-year report 2024 | Tryg Forsikring A/S | 4

Other income and costs

guarantee funds for claims (Guarantee funds for Other income and costs were DKK -746m (DKK central costs. Cost related to one-off regulation educational and development costs and other relations related to RSA Scandinavia and Alka, of Tryg Forsikring's contribution to the DFIM 955m), including amortisation of customer claims caused by unknown or uninsured vehicles) were included in H1 2024.

Profit before and after tax

after tax was DKK 2,431. Total tax amounted to Profit before tax was DKK 3,159 , whilst profit DKK -728 , equating to a tax rate of approximately 23%.

Management's review - Contents

Business areas - Tryg Forsikring

neluding motor, content, house, accident, travel, customers in Denmark, Sweden and Norway, Private offers a range of insurance products motorcycle, pet and health.

of insurance revenue

Distribution channels

. estate agents · Online · Bancassurance Car dealers . Franchises . Partner

Commercial

Corporate provides insurance products to large corporate customers in Denmark, Sweden and Norway. Corporate offers a range of insurance products including motor, property, liability, workers' compensation, travel and health.

Corporate

small and medium-sized commercial customers in Denmark, Sweden and Norway. Commercial offers a range of insurance products including Commercial provides insurance products to motor, property, liability, workers' compensation, travel and health.

of insurance revenue

Distribution channels

Distribution channels

Own sales agents · Insurance brokers

of Insurance revenue

10%

Tryg @ Tryg Garanti

Brands

TRYGG HANSA

Partner

Own sales agents · Franchises ·

Callcentres · Online · Bancassurance

.

Tryg O TRYGGOHANSA

Brands

Half-year report 2024 | Tryg Forsikring A/S | 5

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Document ID: 359D3767856A43138023C2A71721B2F5

Own sales agents · Call centres · Real

Private provides insurance products to private Private

Management's review - Contents

A

H1 2024 results

underlying claims ratio deteriorated, driven by a a better level of run-off at 2.3% ( 0.7%), whereas weather claims were higher at 2.6% (1.9%). The reinsurance, was 70.9% ( 71.4%), supported by higher claims frequency in the motor segment. The insurance service result was DKK 2,059m (DKK 1,932m). The claims ratio, net of The expense ratio was 13,1% (12,6%).

359D3767856A43138023C2A71721B2F5

Key figures - Private

	H1	H1	Full Year
DKKm	2024	2023	2023
USULAUCH BOOMST	12,833	12,072	24,455
Gross claims	-8,902	-8,530	-17,305
nsurance operating costs	-1,675	-1.520	-3,074
nsurance service expenses	-10,577	-10,050	-20,379
ssaulsung sporgrous business	0 2,25	2,023	4,076
Net expense from reinsurance contracts	at -19	-90	-276
nsurance service result	2,059	1,932	3,800
Run-off gains/losses, net of reinsurance	6 ਡ ਲੋ	el 8	268
Key Ratlos
Revenue growth in local currencies (%)	ಲ್ಲವ 9	47	5 5
Gross claims ratio	7 69	70.7	70.8
Net reinsurance ratio	5	1 0	1.1
Claims ratio, net of reinsurance	70.9	71.4	71,9
xpense ratio	1 13.	ে 12.	ಟ್ 12.
Combined ratio	84.0	84.0	84.5
Combined ratio exclusive of run-off	్రాల 86	84.7	್ತದ 85.
Run-off, net of reinsurance (%)	.3 -2	-0.7	-1.1
arge claims, net of reinsurance (%)	12-4 0	7 0	Real 0
F Weather claims, net of reinsurance	್ನು C	ា	ಿದ್ದ m

Financial highlights H1 2024

Half-year report 2024 | Tryg Forsikring A/S | 6

Management's review - Contents

Commercial

്രട്ട

H1 2024 results

reinsurance, was 61.3% (64.1%), supported by a 2.9% (2.1%) due to harsh winter conditions. The impacted by a higher level of weather claims at underlying claims ratio improved, propelled by The insurance service result was DKK 1,113m profitability initiatives. The expense ratio was better run-off at 3.6% (2.6%), but adversely (DKK 924m). The claims ratio, net of 15,3% (15.6%).

Key figures - Commercial

	H1	H1	Full Year
DKKm	2024	2023	2023
Insurance revenue	4.749	4,559	9,178
Gross claims	-2,726	-2,901	17 -5.5
Insurance operating costs	-725	-712	-1,454
Insurance service expenses	-3,452	-3,613	-6,972
Profit/loss on gross business	1,297	946	2,207
Net expense from reinsurance contracts	-184	-23	-197
Insurance service result	1,113	924	2,010
Run-off gains/losses, net of reinsurance	Pr	119	5 (0
Key Ratlos
Revenue growth in local currencies (%)	4.6	3.8	3,9
Gross claims ratio	7 57	63.6	1 60.
Netreinsurance ratio	20 E	0.5	2.1
Claims ratio, net of reinsurance	61.3	64.1	62.3
Expense ratio	ಗೆ 15.	15.6	15.8
Combined ratio	76.6	79.7	1 78.
Combined ratio exclusive of run-off	C 800	7 5-4 00	81.5
Run-off, net of reinsurance (%)	-3.6	്റ്റ -2.	ਾ -3.
Large claims, net of reinsurance (%)	433 E	4.8	್ರಾ m
Weather claims, net of reinsurance (%)	12 6	2.1	3.1

Financial highlights H1 2024

76.5 Combined ratio 172	H1 2023: 79.7
153 Expense ratio 1%	H1 2023: 15.6
1.11 3m Insurance service result IDKKI	H1 2023: 924m
in local currencies [%] Revenue growth 4.6

Half-year report 2024 | Tryg Forsikring A/S | 7

Management's review - Contents

Key figures - Corporate
	H1	H1	Full Year
DKKm	2024	2023	2023
Insurance revenue	1,495	1,758	3,502
Gross claims	-1,234	-1,369	-2,448
Insurance operating costs	-192	-209	-430
Insurance service expenses	-1,426	-1,577	-2,878
Profit/loss on gross business	്ലേ	181	624
Net expense from reinsurance contracts	246	196	-34
Insurance service result	315	377	590
Run-off gains/losses, net of reinsurance	57	305	17 5
Key Ratios
Revenue growth in local currencies (%)	-14.1	2.8	2.3
Gross claims ratio	825	77.8	69.9
Netreinsurance ratio	ਪ -16.	-11.2	1.0
Claims ratio, net of reinsurance	1 66.	1 66.	70.9
Expense ratio	0 12.	11.9	12.3
Combined ratio	78.9	78.6	83.2
Combined ratio exclusive of run-off	6 89.	్రా 95.	េក្ 97.
Run-off, net of reinsurance (%)	5 -100	-17-3	-14.7
Large claims, net of reinsurance (%)	್ತಾ 5	17.1	16.6
元 Weather claims, net of reinsurance	0.7	1.1	1.7

789 Combined ratio H1 2023: 78.6 (%) in local currencies (%) -14.1 Revenue growth

reinsurance, was 66.1% (66.7%), supported by a had an adverser impact. The underlying claims initiatives and reduced volatility. The expense whilst a lower run-off result at 10.5% (17.3%) The insurance service result was DKK 315m lower level of large claims at 9.6% (17.1%), ratio improved, propelled by profitability (DKK 377m). The claims ratio, net of ratio was 12.9% (11.9%).

of the document.

The business area accounts for 10% of the Group's total insurance revenue

Document ID: 359D3767856A43138023C2A71721B2F5

e

Paur

Investment activities

Investment result

growth. Equity markets performed well, helped Capital markets performed well in the first half second half of 2023, while the trend was more running very high in various parts of the world. stable in 2024. Central banks in all the world's by expectations of lower interest rates in the environment with not hampering economic advanced economies are still attempting to Inflation expectations started to ease in the of 2024 despite geopolitical tensions still carefully balance a high interest rate second half of 2024. The investment return for the half year was DKK 418m (DKK 236min H1 2023),

Free portfolio

2024 characterised by positive equity market Financial markets experienced a good first half lower interest rates in the second half of 2024. developments on the back of expectations of of

Return - free portfollo

The result of the free portfolio was DKK 314 (DKK 251m in H1 2023).

Match portfolio

keeping capital consumption low. The return for consists of Scandinavian covered bonds for the purpose of matching insurance liabilities while The match portfolio of DKK 44bn primarily 2024 was DKK 397 (DKK 166m for H1 20231. H1

Other financial income and expenses

protect own funds and general balance sheet subordinated debt, the cost of currency hedges the cost of running the investment operations Other financial income and expenses include items, the value change on the inflation swap, interest expenses related to outstanding and other general costs. to

Other financial income and expenses were DKK =293m (DKK=181m in H1 2023).

Return - Investments

1 1 1 1 1 1 2001 1000	11	H	Full Year
DK	2024	2023	2023
portfolio, gross retur Free	14 10	5 N	622
್ತಿ portfoll Match	1 39	ਵੀ ਸੂ 11	468
expenses not 11 income Other financial	-293	00 1	-475
Investment result	418	236	615

Return - Match portfolio

	15	H	Full Year
DKKm	202	ದ್ರಿ 202	2023
Return, match portfolio	9 5	5-4 દિર્	086 54
ਕਾ discount ra adjustments, changed Value	00 6 ದ	57 g	-905
Unwind of discounting	-560	-549	207 -
Mater	L 39	ਸੰਧ 100 1	468

		8	H1	H1	Investment assets
DKKm	2024	2024 (%)	2023	2023 (%)	30.06.2024	31.12.2023
Government and Covered Bonds	77	1.2	ല്ല	1.1	6,782	7,198
Corporate and Emerging Markets Bonds	22	0.8	89	2.8	2,744	2,969
nwestment grade credit		0.6	36	0 ਾ ਨੇ	.086	113
Emerging markets bonds		0.4	32	r 2.7	960	57 . 1
High-vield bonds		1.3	ﺍﻟﺒﺎﺑﺔ	2.7	698	ega
versifying Alternatives	23	1.5	42	3,4	2,147	1,456
	349	4.7	273	7.9	2,669	2,418
Estate	-157	-4.7	-211	-5.3	3.244	3,465
	314	1.7	251	-4	17,586	17,506
					Half-year report 2024 Tryg Forsikring A/S	CT

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Solvency and dividend

The solvency ratio

partial internal model) was 195 at the end of H1 The solvency ratio (based on Tryg Forsikring's 2024 compared to 197 at the end of 2023 for Tryg Forsikring (parent company).

Own funds

Own funds totalled DKK 15,239m at the end of H1 (DKK 15,188m at the end of 2023) for Tryg Forsikring (parent company). Tryg Forsikring's shareholders' equity and subordinated loans. own funds consist predominantly of

Solvency capital requirement

Companies. The model is based on the structure Tryg Forsikring calculates its individual solvency internal model to evaluate insurance risks, while other risks are calculated using standard model model in accordance with the Danish Financial capital requirement based on a partial internal of the standard model. Tryg Forsikring uses an Solvency and Operating Plans for Insurance Supervisory Authority's Executive Order on components.

7,804m (DKK 7,707 m at the end of 2023) for The solvency capital requirement, calculated using the partial internal model, was DKK Tryg Forsikring (parent company).

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Management's review - Contents

Financial outlook

causing some macroeconomic volatility. Inflation levels fell during the life insurance markets remained broadly stable, with all listed players final months of 2023 but remain elevated compared to recent years. Global geopolitical tensions remained high at the beginning of 2024. The Scandinavian economies continued to perform well, while nonadjusting prices to protect margins and fight inflationary pressures.

2024 Outlook

levels (as measured by CPI) and general inflation around the world. These geopolitical tensions inflation and high interest rate levels. Inflation Global geopolitical tensions remained high at environment characterised by relatively high expectations eased in the last few months of tensions, US/China tensions on the future of are reflected in a complex macroeconomic Taiwan and a number of other flashpoints the beginning of 2024 on multiple fronts: 2023, driving interest rates slightly lower. Russia's invasion of Ukraine. Middle East

Financial markets remain edgy and exposed to recently in H1 2024, primarily driven by good eturns from equities and fixed income asset sudden moves but in general performed 9000000

perform relatively well. A high level of trust in environment. Scandinavian countries continue public authorities, solid overall public finances relatively low unemployment rates remain with low levels of government debt and Despite the complex macroeconomic 10

tonnes CO2e reduction) 20-25.000 Sustainability & ESG 13.5% Expense ratio (reaffirmed) Financial targets 2024 Customer targets <82.0 satisfaction Combined Customer 88 atlo % growth in value-creating Insurance service result 7.2-7.6bn actions upon login) Dieltalisation ≥40% DKK A 2007 - 10, 2007
And 2007 - 10, 2007
And 2007 - 10, 2007 - 10, 2007 - 10, 2007 - 10, 2007 - 10, 2007 - 10, 2007 - 10, 2007 - 10, 2007 - 10, 2007 - 10, 2007 - 10, 2007 - 10,

distribution also contributes significantly to the very efficient business model.

DKK 46bn) and a free portfolio (DKK 18bn). The is for the return on the portfolio to be as close as possible to zero, as capital gains or losses driven Riskier asset classes like equities, real estate and matching the insurance liabilities. The objective portfolio is a diversified mix of assets where the corporate bonds should offer higher normalised returns compared to more secure asset classes the specifics of the non-life insurance business nvested assets are split into a match portfolio Investment activities (DKK 64bn as per end of 2023) are managed taking into consideration by interest rate movements should result in goal is to seek the best risk-adjusted return. similar, but opposite, movements [gains or Scandinavian covered bonds (rated AAA) losses) on assets and liabilities. The free match portfolio is primarily made up of like covered bonds.

(SME) segments, which together represent close

profitability driver, as it helps insurers keep their

everywhere else in the world. This is a key

very high in Scandinavia compared to

overall expenses low. Retention rates hover around 90% in the Private and Commercial to 90% of Tryg Forsikring's total business. Direct

Half-year report 2024 | Tryg Forsikring A/S | 11

Scandinavian non-life insurance markets remain

generally stable. The region is characterised by

relatively high product penetration, with ratios non-life premiums as a percentage of GDP being some of the highest in the world. Product

offerings are broader and more diverse

compared to larger European countries. Motor

Property and Accident & Health are the most

companies is generally high. Retention levels are

ike contents insurance and travel insurance are

also widely sold. Households usually cover their important business lines, but smaller products

insurance needs well and trust in insurance

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Contents - Financial statements H1 2024

Financial statements

• Statement by the Supervisory Board and the Executive Board Tryg Forsikring Group 13
  • ncome statement りし
• Statement of comprehensive income si
  • Statement of financial position 91
• Statement of changes in equity ມີໄ
  • Cash flow statement
    • Notes ਦ

Tryg Forsikring A/S (parent company)

• Income and comprehensive income statement
• Statement of Financial position 06
  67
• Statement of changes in equity স্ত্রে
  • Notes अ
• Glossary, key ratios and alternative performance measures GE
  • Disclaimer

BE

of the document.

Document: ID: 359D3767856A43138023C2A71721B2F5 Half-year report 2024 | Tryg Forsiliaring A/S | 12

	Statement by			the Supervisory Board
	and the Execu		tive Board
	The Supervisory Board and the Executive Board Forsikring A/S (hereafter named as Group and parent company respectively) for the period The financial statement, which is unaudited has not been reviewed by the company's year report of Tryg Forsikring Group and have today considered and adopted January to 30 June 2024.	and 1 Tryg the half	The financial statement for the parent company prepared in accordance with IAS 34 Interim Financial Reporting and the Danish in accordance with the Danish Insurance Business Act. Insurance Business Act. is prepared auditors, is	the period for the Group.	Management's review gives a true and fair view parent company's activities and cash flows for June 2024 and of the results of the Group and In our opinion, the report gives a true and fair view of the Group and the parent company's assets, liabilities and financial position at 30 We are furthermore of the opinion that the	the results for the period of the Group's and the position of the Group and the parent company, parent company's financial position in general and describes principal risks and uncertaintles of developments in the activities and financial that the Group and the parent company face.
	Ballerup, 11 July 2024 Executive Board
	Johan Kirstein Brammer Group CEO	Allan Kragh Thaysen Graup CFO	Lars Bonde Group COO	Alexandra Bastkær Winther Group CCO	Mikael Kärrsten Group CTO
	Supervisory Board
This file is sealed with a digital signature. The seal is a guarantee for the authenticity		Deputy Chairman Steffen Kragh	Benedicte Bakke Agerup	Carl-Viggo Ostlund	Thomas Hofman-Bang	MengMeng Du	Anne Kaltoft
	Company College College Wissour Wissour Company College Collections Wissources wisstore Company Collections Wissources	Jørn Rise Andersen	Charlotte Dietzer	Tina Snejbjerg	Elias Bakk	Mette Osvold	Lena Darin
						Half-year report 2024 Tryg Forsilkring A/S 13

Document ID: 359D3767856A43138023C2A71721B2F5

of the document.

Income statement

		H1	H1	Full Year
DEKm		2024	2023	2023
Note
	usurence revenue	19.814	19,521	39,126
	rsurance service expenses	-16.191	-16,371	-32,219
	Net expenses from reinsurance contracts	-136	83	-507
	Insurance service result	3,486	3,233	6,399
	Investment activities
	Profit/loss from associates	-40	-34	-75
	ncome from investment property	12	24	35
	nterest Income and dividends	865	706	1,624
5-4	Value adjustments	60	187	1,663
	nterest expenses	-211	-142	-332
	Administration expenses in connection with investment activities	-128	-103	-194
	Investment return	557	638	2,721
	Net finance income/expense from insurance contracts	-197	-462	-2,190
	Net finance income/expense from reinsurance contracts	59	60	84
	Net Investment result	418	236	615
E	Other Income	61	57	115
E	Other costs	-807	-1.011	-1,930
	Profit/loss before tax	3,159	2,514	5,199
	181	-728	-631	-1,206
	Profit/loss for the period	2,431	1,883	3,993

of the document.

Statement of comprehensive income

			H1	Full Year
DKKm		2024	2023	2023
Note
	Profit/loss for the period	2,431	1,883	3,993
	Other comprehensive income which cannot subsequently be reclassified as profit or loss
	Actuarial gains/losses on defined-benefit pension plans
	ans Tax on actuarial gains/losses on defined-benefit pension
	Other comprehensive income which can subsequently be reclassified as profit or loss
	Exchange rate adjustments of foreign entitles	-623	-1,871	-105
	Hedging of currency risk in foreign entitles	130	509	30
	Tax on hedging of currency risk in foreign entitles	-34	-128	-33
		-527	-1,490	- B
	Total other comprehensive Income	-527	-1,490	ត្រូវ
	PP (20 (2010) 10:50 pr) 201-2012 (215 (215) 215-279 (2019 (2014) 2014 (21) 2014 (215) 2014 (215)	4 015	ヴララ	文由四六年

of the document.

Statement of financial position

■ st		30.06.2024	ದಿರುವ 30.06.202	ದಿದೆ. 1.12.202 E
PL	Assets
	Intangible assets	31,197	730 30.7	દિ B ದ కా
	nt equipmer BUIT Operat	(2) T 1	ದ್ರಾ 8	6 v
	riv prope Group-occupied r	00 ידי 8	0 5	5 m 235
	Total property, plant and equipment	10 .06	6 B ு 1	125

over broberty, brant and edmibilient	1.091	1 0 0 0 0 3	1,125
Investment property	444	5 08 ಕ್ಷಿತವ	498
sate dosse In Equity investments	44	ਕ	34
Total Investments in associates	44	ભ	34
Equity investments	902 r b	63 1 E	0 ි 31 52
units Unit trust	un 5 1 420	5 5 ದ 0	డానిక 6 1 8
Bonds	127 g 00 17-21 157	0 ਸੂ ੀ రామ 47	117.1 .04 1 47
ng Other lendi	0	47 1	0
instruments financial Derivative	334	0 1 8	ਸੀ। 8 0 6-4
ు din C ப Reverse repurchase	03 દ્વા	ੂੰ 115	్రా ub
Investment assets Total other financial	68,063	67,882	71,272
Total Investment assets ਖੜ	1 68,55	ದಿ 981 68.	71,804

Assets from reinsurance contracts	3,177	3,133	0 3,061
ga kin underta Receivables from Group	649	49	08 114
es 0 11 ru rece Other	174	0 ಷ್ಟು	0 1 દના
Total receivables	823	1,550	8 41
Current tax assets	0	50 1-	457
hand 10 Cash at bank and	0 8 55 డాని	ਾ 0 ત્ય	6 00 0 80
Other	0	0	157
Total other assets	1 2,58	2.044	660'2
ದೆ ಕ 0 Interest and rent receiva	40 8 ro	16 ers	00 41
ਜ neam ed 11 CCL 0 nd E nts ਧੀ prepaym Other	00	779	00 5 00
Total prepayments and accrued Income	1,287	1,09	g 1,311
Total assets	108,677	108,625	112,809

30.06.2024 30.06.2023 31.12.2023

DKKm

Note	Equity and liabilities
	Equity	39,690	39,954	40.062
	Subordinated loan capital	2,977	2,824	3,031
	Insurance contracts llabilities	10 49,281	48,684	49,463
	Pensions and similar obligations	us LT	દર્મ 60	1
	Deferred tax liability	3,140	8 3,22	1 - E 8
	Other provisions	104	0 12	223
	Total provisions	3,299	3,406	3,616
	Amounts owed to credit institutions	303	14 ਨ	00 2.02
7	Debt relating to repos	47 60 ਟ	8 cu 9 ‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌	645 P
17	Derivative financial instruments	807	7 E ហេ মে	25 1,77
	Debt to Group undertakings	P 8 C	8 as	00 25
	es Current tax llabiliti	5 ਰ 6	404	389
	Other debt	P 62 ഥ	00 6.85	460 1
	Total debt	13,412	13,687	16,599
	Accruals and deferred Income	14	70	38
	Total equity and liabilities	108,677	108,625	112,809

Contingent Liabilities 5

Related parties

es

Accounting policies

Half-year report 2024 | Tryg Forsilkring A/S | 16

of the document.

Statement of changes in equity

Reserve for

		exchange				Non-	Share-	Additional
	Share	rate	Other	Retained	Proposed	controlling	holders of	Tler
DKKm	capital	adjustment	ENSOFVES	earnings	dividend	nterest	Tryg	capital	Total equity	a) The continge
Equity at 31 December 2023	1,646	-2,184	4,547	34,065	1,000		39,075	987	40,062	COVER losses In insurance provi insured and are
H1 2024
Profit/loss for the period			-137	্ত	.440 14		1394 14	36	43.
Other comprehensive income		-527					-527		-527
Total comprehensive income	0	-52	-137	্ট	2,440	0	86.	36	.903
Dividend paid					-2,238		-2,238		-2,238
Interest paid on additional Tier 1 capita.								-36	-36
Total changes in equity In H1 2024	ប្ន	-527	-137	91	202	Q	-371	0	-371
Equity at 30 June 2024	1,646	-2,712	4,410	34,155	1,202		38,704	987	39,690

sions or otherwise for the benefit of the ncy fund provisions can be used to connection with the settlement of not available for dividends.

This file is and of the fill of the lines of the film of the film of the film of the best in the film of the film and the mail one and and the mail one and and and and and an of the document.

Document ID: 359D3767856A43138023C2A71721B2F5 Half-year report 2024 | Tryg Forsilaring A/S | 17

Statement of changes in equity

		Reserve for
		exchanee				-non-	Share-	Additional
	Share	rate	Other	Retained	Proposed	controlling	holders of	Tler
DKKm	capital	adjustment	GBALVES	earnings	dividend	nterest	Trug	capital	Total equity
Equity at 31 December 2022	1,646	-2,176	4,724	35,384	2,570		42,149	506	42,655
437 of IFRS Changes in Impairment owing to implementation							ਨੂੰ		್ಕೆ -
0 RS 17 Changes in taxes due owing to implementation of
Equity at 1 January 2023	,646	-2,176	4,724	35,382	2,570		42,148	506	ਾ 65 42.
H1 2023
Profit/loss for the period			-299	-22	385		1.864	27	E 88
Other comprehensive income		490 = 1					ਟ੍ਰੀ -1.		49 -1
Total comprehensive income	0	490 -	-299	-22	385 ਨਾ		1 37	5	E ੜ੍ਹੇ ਰੋ
Dividend paid					8 -3.7		8 1 -3		-3,78
Interest paid on additional Tier 1 capita								(2)	0 -1
Issue of additional Tier 1 capita								10 100	88
Reduction of tier 1 capital							0	-280	-28
Total changes In equilty In H1 2023	0	-1,490	-299	-221	-1,396	0	-3,407	707	-2,700
Equity at 30 June 2023	1,646	-3,666	4,424	35,161	1,174		38,741	1,213	ਮ 39,95

This file is confident completed in the film to the result and of the document.

Statement of changes in equity

		Reserve for
		exchanee				- For-	Share-	Additional
	Share	rate	Other	Retained		Proposed controllng	ho ders of	Tler
DKKm	capital	adjustment	Feserves	san hilles	dividend	nterest	TIVE	capital	Total equity
Equity at 31 December 2022	1,646	-2,176	4,724	35,384	2,570		42,149	506	42,655
of IFRS 9 Changes in Impairment owing to Implementation				e in			్రా
6 IFRS Changes in taxes due owing to implementation of
Equity at 1 January 2023	1,646	-2,176	4,724	35,382	2,570		42,148	506	42,654
2023
Profit/lass for the period			-178	-1,358	460 5		924 m	69	693 8
Other comprehensive income		ರ್-					្រី -		5
Total comprehensive income		-8	00 -17	359 : #	5,460		15 15 സ	Cars 9	3,984
Dividend paid					-7,030		-7.030		-7,030
Interest paid on additional Tier 1 capital								-69	-69
Issue of additional Tier 1 capita.								987	987
Cancellation of Tier 1 capital				41			41	-506	-465
Total changes In equity in 2023	0	-B	-178	-1,318	-1,570	0	-3,074	481	-2,593
Equity at 31 December 2023	1,646	-2,184	4.547	34,065	1,000		39,075	a B.	40,062

This file is confident completed in the film to the result and of the document.

Cash flow statement

		H1	H1	Full Year
	DKKm	2024	2023	2023
	Cash flow from operating activities
	insurance revenue received	20.402	19.960	36,905
	Insurance service expenses paid	-19.557	-17.512	-29,562
	Net expenses from reinsurance contracts	-254	-25	-876
	Cash flow from Insurance activities	591	2,422	6,468
	Interest income	671	458	1,128
	Interest expense	-211	-150	-332
	Dividend received	109	89	149
	SBXE I	-346	-140	-175
	Other income and costs	-1.412	-479	-960
	Total cash flow from operating activities	-597	2.200	6,279
	Cash flow from Investment activities
	Purchase/sale of equity investments and unit trust units	-1.502	-880	683
	Purchase/sale of bonds (net)	596 F	56	-523
	Purchase/sale of operating equipment [net]	-35	-2	-69
	Acquisition/sale of associate	-51	్రా	ా
	Sale of investment property	41		502
	Hedging of currency risk	130	509	130
	Total cash flow from Investment activities	2,552	-318	922
	Cash flow from financing activities
	Subordinated loan capital	ੁ	707	-45
	Debt and receivables, Group	613	162	-124
	Dividend pald	-2.238	-3.781	-7.030
	Change in lease liabilities	-104	-108	-211
	amounts owed to credit institutions Change in	-725	-124	722
	Total cash flow from financing activities	-2454	-3.144	-6,688
of the document	cash and cash equivalents, net Change In	-499	-1,262	513
	January 1 Exchange rate adjustment of cash and cash equivalents.	-10	-32	-12
	Change in cash and cash equivalents, gross	-509	-1.293	501
	Cash and cash equivalents at 1 January	580 F	2 588	2.588
	Cash and cash equivalents at end of period	2.580	1.294	3.089
GARANDA AND AND AND AND AND AND AND AND AND AND AND AND AND AND AND AND AND AND AND AND AND AND AND AND AND AND AND AND AND AND AND AND AND AND AND AND AND AND AND AND AND AN This file is sealed with a digital signature. The seal is a guarantee for the authenticity			Half-wear report 2024 Tryg Forsilia'in

of the document.

Notes

Insurance service result In

		Management's		псоте
DKKm		Review	Reclassification"	statement
	nsurance service result
	H1 2024
	ਰ manualice revenu	C 07 ে।	737	P ದ್ರಿ ర్ r
	ITTS Gross clai	ದಿ ದಿಗ -12.	-737	5 5 un -13,
	Insurance operating costs	Call -2,591	0	-2,593
	nsurance service expenses	-15,454	-737	-16,191
	0 ne. Expenses from reinsurance contracts	3 -69		-696
	0 ਕ DH Income from reinsurance contracts	0 5 5		60 5
	Net expense from reinsurance contracts	-136		9 -136
	INSULANCE SOLVICE LESUIT	3,486	0	9 3,481

Insurance service result (continued)

H1 2023

233 ಗ್ಗ	1	3,233	Insurance service result
E ප්‍රධ		દિ B	Net expense from reinsurance contracts
2 ui 5	0	5 6	17 ਹੈ। 1 cis ್ಲದ contr nce 0 nsur មើ 171.1 ਾ। 14 di E Inco!
6 (0) -BI		Cali -86	D ਰ 0 Cts contra ਹੈ। DCI E Insur rel from xpenses LEF
-16,37	32 -1,1	5,240 -11	expenses Insurance service
40 7 -2	1	្វ ਾ -5 ్రా -	15 SO 17 1 U 1 B oper ਰ ne E UL பா LI
m 12.2 E a	్రామె ా ప 1	ﻟﻜﺮﺓ 00 00 ్లా r 18	ળ E 122 12 Ul U 0 L 11
ਨ 5 5 1	6 - E r	0 5 3 8	ਗ reveriu msurance
			1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1

DKKm		IUSULSUCE SELVICE Management's result In Review	Reclassification" statement	Income
	Insurance service result (continued) Полности в семенце 2023	37.135	日常语	39 126

-4,959

0

-1.990

-25,270

-4.959 -30,229 -1,729

-27,261

-1.729

1,222 -507

1,222 -507 6,399

Expenses from reinsurance contracts held Net expense from reinsurance contracts Income from reinsurance contracts held

Insurance service result

Insurance service expenses Insurance operating costs

Gross claims

0 0 0

-32,219

-1,990

6,399

0

"Management's review" without the abovereclassification as it gives a fair view of Insurance revenue, Gross claims and a) IFRS 17 requires that claims provisions acquited shall be presented as Insurance revenue. The reclassification refers insurance service result as well as key ratios. This explains the difference between "Management's review" and the impact on the Insurance service result. Therefore, Tryg Forsikring presents Insurance revenue and Gross claims in acquisition. The presentation would have resulted in an artificial high insurance revenue and Gross claims with no to Insurance revenue and Gross claims relating to Claims provisions from the Tryge-Hansa and Codan Norway Financial Statements. Key ratios are calculated on the figures used in "Management's Review".

This file is and of the Colling College of College of College of College of Conceller and Corporation of the September of of the document.

DKKm		Private	Commercial	Corporate		Other "	Group
	Operating segments
	H1 2024
	Insurance revenue		12,833	4,749	1.495		737	19,814
	Gross claims		-8,902	-2,726	-1,234		-737	-13,599
	Insurance operating costs		-1,675	-725	-192			-2,593
	nsurance service expenses		-10,577	-3,452	-1,426		-737	-16,191
	Net expense from reinsurance contracts		-198	-184	246			-136
	nsurance service result		2,059	1,113		315		3,486
	Net investment result							418
	Other Income and costs							-746
	Profit/loss before tax							3,159
	河田工							-728
	Profit/loss for the period							2.431
	Run-off gains/losses, net of reinsurance		289			57		617
	Intengible assets		27,237	2.401		ੋ	1,559	31,197
	Equity investments in associates							44
	Assets from reinsurance contracts		305	1,116	1,714		42	3,177
	Other assets							74,258
	Total assets							108,677
	Insurance contracts liabilities		29,827	12,538	9,420		-2,500	49,285
	Other liabilities							19,701

escription of segments

ass refer to the accounting policies in the Annual port 2023 for a description of operating ments,

urance revenue and gross claims arising from the gg-Hansa and Codan Norway acquisition. Please counting policies in the Annual Report 2023 for The other segment in the profit/loss includes er to note 1 Insurance service result and ther description.

Total llabilities

68,987

This file in and of the first of the first of the first of the film of the film of the first of the film of the film of the states of the states and and and and and and and a

of the document.

Document ID: 359D3767856A43138023C2A71721B2F5 Half-year report 2024 | Tryg Forsikring A/S | 22

DKKm		Private	Commercial	Corporate	Other"	Group
	Operating segments (continued)
	H1 2023
	nsurance revenue	12,072	4,559		1,758	1,132	19,521
	Gross Claims	-8,530	-2,901		-1,369	-1.132	-13,931
	Insurance operating costs	-1,520	-712		-209		-2,440
	nsurance service expenses	-10,050	-3,613		-1,577	-1.132	-16,371
	Net expense from reinsurance contracts		-23 -90		196		83
	nsurance service result		924 1,932		377		3,233
	Net investment result						236
	Other income and costs						-955
	Profit/loss before tax						2,514
	381						-631
	Profit/loss for the period						1,883
	Run-off gains/losses, net of reinsurance		119 85		305		510
	Intengible assets	27,048	2.540			1.142	30,730
	Equity investments in associates						27
	Assets from reinsurance contracts		1,066 348		1,651	ਿੰਗ	3,133
	Other assets						74,741
	Total assets						108,625
	Insurance contracts liabilities	965 82	12,539		9,752	-2.204	48,684

19.987

Other liabilities Total llabilities

68,671

of the document.

Document ID: 359D3767856A43138023C2A71721B2F5 Half-year report 2024 | Tryg Forsikring AJS | 23

Group

Other"

Corporate

Commercial

Private

DKKm

Operating segments (continued)
2023
nsurance revenue	24,455	9,178	3,502	1.990	39,126
Gross claims	-17,305	-5,517	-2,448	-1,990	-27,261
Insurance operating costs	-3,074	-1.454	-430		6567"
nsurance service expenses	-20,379	-6,972	-2,878	·1.990	-32,219
Net expense from reinsurance contracts	-276	-197	-34		-507
Insurance service result	3,800	2,010	590		6,399
Net investment result					615
Other income and costs					-1,815
Profit/loss before tax					5,199
xBL					-1,206
Profit/loss for the period					3,993
Run-off gains/losses, net of reinsurance	268	315			1,099
Intengible assets	580'82	2.584		4 កាំ	31,987

3,060 34

300

1,575

946

239

Assets from reinsurance contracts Equity investments in associates

77,729

112,809 49,463

-1,029

8,898

11,999

29,595

23,284 72,747

Insurance contracts liabilities

Total assets Other assets

Other liabilities Total llabilities

of the document.

Document ID: 359D3767856A43138023C2A71721B2F5 Half-year report 2024 | Tryg Forsikring A/S | 24

Notes

		H1	H1	Full Year
DEKm		2024	2023	2023	DKI
	Insurance service result by geography
	Danish general Insurance
	nsurance revenue	9.042	8.628	17.396
	Insurance service result	1,435	1.782	3.200
	Run-off gains/losses, net of reinsurance	102	308	631
	Key ratios
	Gross Claims ratio	S 67.	ਨੂੰ 5 10	66.5
	Net reinsurance ratio	ਨ ్ర	8 0	00 -
	Claims ratio, net of reinsurance	69.7	66.1	8.3 ಟ
	Expense ratio	14.4	സ 13.	13.3
	Combined ratio	84.1	79.3	81.6
	Run-off, net of reinsurance (%)	-1.1	-3,6	-3.6
	Number of full-time employees, end of period	3.176	3.407	3,377
	Norwegian general Insurance
	NOK/DKK, average rate for the period	64.89	66.23	65.37
	nsurance revenue	4.074	3.955	7.962
	Insurance service result	5 19!	441	662
	Run-off gains/losses, net of reinsurance	52	10 -	88
	Key ratios
	Gross claims ratio	ਨਾ E 1	71.7	73.8
	Net reinsurance ratio	7 ers	G (1)	4.6
	Claims ratio, net of reinsurance	82.6	75.6	78.4
	0 rati Expense	2.7 1	లా 13.	13.3

2024	2023	2023
Insurance service result by geography (continued)
65.56	65.89	64.88
6.819	5.686	11,512
1.847	1,002	2,511
456	87	66 ਨੂੰ
59.9	75.3	67.2
-4.3	-5.9	-2.3
55.6	69.3	64.9
12.7	13.0	13.3
8 68.	ਪ੍ਰ 82.	78.2
-7.8	-1.5	-2.3
2.058	1.947	1.973
141	22	265
10	B	27
9	47	14
66	5 5	ਦੇ ਰੋ
737	1.132	1.990
-737	32 -1.1	-1.990
0	0	0

a) Comprises credit & surety insurance (Tryg Garanti) in European countries besides Denmark, Norway and Sweden.

13.3 91.7 -2.4 1,350

88,9

95.2 -1.3 1.331

1.385

Number of full-time employees, end of period

Run-off, net of reinsurance (%) Combined ratio

Expense ratio

-2.8

b) Reclassification relating to claims provisions from the Trygg-Hansa and Codan Norway acquisition. Please refer to note 1 Insurance service result and Accounting policies in the Annual Report 2023 for further description.

This file is a confidential control of the first and the first and the finally for the film of the film of the film and the many of the states and the counter and the counter of the document.

		H1	H1	Full Year
DKKm		2024	2023	2023	DKKm
	Insurance service result by geography (continued)				C	A
	Group (Total)					A
	nsurance revenue	19,814	19,521	39,126		B
	nsurance service result	3,486	3.233	6 6,39		Lil
	Net investment result	8 411	236	615		0
	Other Income and costs	-746	5 -35	815		E
	Profit/loss before tax	6 3,15!	7 51 C	g 19! un		121
	Run-off gains/losses, net of reinsurance	15 1 a	510	6 .09!
	Key ratios
	Gross claims ratio	67.4	9 69.	0 88		14
	Net reinsurance ratio	1 0.7	7 -0.	7 1		12
	Claims ratio, net of reinsurance	68.1	69.2	7 દિવે		1
	Expense ratio	10 13.	3 13.	7 13.		11 - 1
	Combined ratio	81.7	82.4	00 82.
	Run-off, net of reinsurance (%)	-3.2	-2.8	-3.0
	Number of full-time employees, end of period	630 9	6.794	6 75! 0

		H1	H1	Full Year
DKKm		2024	2023	2023
2	Value adjustments
	at fair value with value adjustment in the income statement: Value adjustments concerning financial assets or liabilities
	Equity investments	5 -27	్లు	-550
	Unit trust units	CP 0 3		765
	Bonds	14 3	11-1 6	642
	Derivates (Equity, Interest, currency and inflation)	00 -23	1000 - ર્બ	713
		P 12	44	1,571
	Value adjustments concerning assets or liabilities that ಹ cannot be attributed to IFRS
	nvestment property	-12	8 12	್ತಿ 6
	I position items® Other statement of financia	-56	-38	-4
		-67	-253	ਰੇ ਡ

a) Exchange rate adjustments concerning financial assets or liabilities which cannot be stated at fair value totals DKK 69m (DKK 104m in H1 2023)

1,663

-253 187

-67 60

Document ID: 359D3767856A43138023C2A71721B2F5 Half-year report 2024 | Tryg Forsikring AJS | 26

	2024 H1	2023 H1	2023 Full Year
Other costs and Income				Tryg Forsikring's investment portfolio (continued) 4
nclude income and costs which cannot be directly ascribed
to the insurance portfollo or investment assets.				at fair value with value adjustment in the income statement. Investment assets are measured Valuation of Investment assets
ncome related to the sale of non-insurance products Other Income	61	57	5 1	Listed bonds and shares, parts of unit trusts as well as derivative financial instruments are
	61	57	115	sheet date. measured at quoted prices or observable input at the balance
Other costs				which is determined in accordance with IFRS 13. The model distributes the total investment The valuation of the investment assets can be distributed in the fair value hierarchy model,
Amortisation of customer relations and trademarks	-473	-476	8986	assets based on the price at which the investment assets are set. Reference is made to the
Integration and restructuring costs related to RSA Scandinavia	1	-300	-300	Annual Report 2023, note 16, for further description of the fair value hierarchy.
Costs related to the sale of non-insurance products	-79	-75	-162
Other costs"	-255	-161	-500	valuation based on quoted prices or observable input. This includes the primary part of the The primary part of Tryg Forsikring's investment assets are classified as level 1 and 2 with
	-807	-1.011	-1.930	unit trust units as well as financial instruments. and bond portfolio, equity investments.
	-746	-955	-1,815	as level 3, includes unlisted shares, unlisted unit trust Investment assets, which are classified
Hereof DKK 180m related to restructuring costs and DKK 50m related to bankruptcy of Geflon in 2023.				units, unlisted bonds and investment property. As these investment assets are not valued be a discretionary element in this hierarchy. on observable input. there will based
	30.06.2024	30.06.2023	31.12.2023	On 30 June 2024, the value of level 3 assets amounts to DKK 529m (DKK 1,207m on 30 June 2023 and DKK 1.001m on 31 December 2023).
Tryg Forsikring's investment portfollo
Total investment assets	68.551	988 68.	71,804	Transfers between the categories quoted market prices and observable input mainly result Transters between categories
Other, hereof financial instrument in liabilities *	-4 802	-5 941	-6,763	from bonds that are reclassified either due to traded volume or the number of days between
External customers	-1544	5 -1.91	-1.672	last transaction and the time of determination. As at 30 June 2024, financial assets of DKK
Tryg Forsikring's Investment portfollo"	62.205	61.132	63.369	have been transferred from guoted market prices to observable input and DKK 3,191m
Match portfollo	44,620	44.178	45,863	from observable input to quoted market prices. 3,571m
Free portfollo	17-586	16.954	17.506

a) Primarily debt relating to rep

Half-year report 2024 | Tryg Forsikring AJS | 27

359D3767856A43138023C2A71721B2F5

DKKm

m

Notes

DKKm

খ

This file is a control of the first of the first of the first and the first and the film of the filled to the film and the states and the seat any

of the document. Document ID:

Financial statements - Contents

Notes

Contingent Liabilities տ

Price adjustments 2016-2020

At the end of October (2020) Tryg received the Danish Consumer Ombudsman's assessment Increases. The Danish Consumer Ombudsman decided in April 2022 that the case should be above normal indexation between March 2016 and February 2020. The case is related to a plying with regulations on price adjustments for private customers when increasing prices of the case. In the Danish Consumer Ombudsman's opinion Tryg Forsikring was not compart of the private portfolio in Denmark. Based on this assessment the Danish Consumer Ombudsman concluded that certain customers may have a recovery claim against. Tryg guidelines stated by the Danish Financial Supervisory Authority (*FSA*) in terms of price Forsikring. Tryg Forsikring does not agree with the Danish Consumer Ombudsman's assessment as Tryg Forsikring believes it has followed the applicable regulation and tested in court.

On 5th April 2024 the Danish Maritime & Commercial Court has ruled in favour of the Danish Consumer Ombudsman arguments against Tryg Forsikring. Tryg Forsikring has appealed the decision.

The Executive Board has decided not to disclose any amount but the case is deemed to have mmaterial financial consequences for Tryg Forsikring's equity and solvency position.

Other

position significantly beyond the obligations recognised in the statement of financial position Norway and Sweden, which management believes will not affect the Group's financial Companies in the Tryg Forsikring are party to a number of other disputes in Denmark, 30 June 2024. on .

Accounting policies 7

Reporting, the Danish Insurance Business Act. The Half-year report of the parent company has been Tryg Forsikring's Half-year report 2024 is presented in accordance with IAS 34 Interim Financial prepared in accordance with the Danish Insurance Business Act. The application of IAS 34 means that the report is limited relative to the presentation of a full annual report and that the valuation principles are in accordance with International Financial Reporting Standards (IFRS).

Changes In accounting policies

There have been no changes to the accounting policies or accounting estimates in H1 2024.

Other

The amounts in the report are disclosed in whole numbers of DKKm, unless otherwise stated.

The amounts have been rounded and consequently the sum of the rounded amounts and totals may differ slightly.

Related parties

In H1 2024 a total dividend of DKK 2,238m (DKK 3,781m in H1 2023) was paid to Tryg A/S.

There have been no other significant transactions.

The seal is a guarantee for the authenticity of the document. Document ID: 359D3767856A43138023C2A71721B2F5

This file is seal

Full Year

H1

H1

Income and comprehensive income statement

(parent company)

		H1	H1	Full Year
DKKm		2024	2023	2023	DKKm
Note					Note
	General Insurance					Investment acth
	Gross premiums written	20.883	20,077	36.656		Income from Gra
	Ceded Insurance premiums	-1.13	-1,265	-1,882		ncome from ass
	Change in premium provisions	-1.714	-2.092	-1.49		nterest income
	Change in profit margin and risk margin	-323	164	1,493		Value adjustmer
	Change in reinsurers' share of premium provisions	298	272	-103		Interest expense
	Premium Income, net of reinsurance	18,013	S 17,151	34,674		Administration e
						Total Investmen
	Claims pald	-13.661	.600 =17	-25.215
	Reinsurance cover received	509	522	B40		Return and value
	Change in claims provisions	1.034	-57	BOB
	Change in the reinsurers' share of claims provisions	192	244	155		Total Investmen
	Claims, net of reinsurance	-11,926	-11,404	-23,412
					11-1	Other income
	Bonus and premium discounts	-228	-314	-468	64	Other costs
						Profit/loss befor
	Acquisition costs	-1,841	-2.159	-3.347		xxl
	Administration expenses	-1.184	-747	-2,557		1 Profit/loss for
	Acquisition costs and Administration expenses	-3.025	-2,906	-5,904
	Reinsurance commissions and profit participation from					Other compreh
	reinsurers	137	125	256		reclassified as p
	Insurance operating costs, net of reinsurance	8888.7	-2,781	-5,648		Actuarial gains/
						Tax on actuarial
	Technical result	2,970	2,657	5.146		plans

J
್ಕಾರ್ ಕ್ Cripton Corporation
උත් sealed with a digital signature.

This file is The seal is a guarantee for the authenticity of the document.

Document ID: 359D3767856A43138023C2A71721B2F5

KKm		2024	2023	2023
ate
	Investment activities
	noome from Group undertakings	372	328	704
	noome from associates	-40	P -32	-75
	nterest income and dividends	722	3 P 5	5 1,29
1	Value adjustments	-242	4 6	(1) 1.45
	Interest expenses	-122	-148	-326
	Administration expenses in connection with Investment	-75	-60	-113
	Total Investment return	614	721	2,943
	value adjustment on insurance provisions and Return	-146	-42	-2,082
	Total Investment return after Insurance technical Interest	468	301	861
ﺍﻟﻤﺮﺗﺒﺔ	Other income	61	1-1 ដោះ	115
ల్లోని	Other costs	-346	-536	-962
	Profit/loss before tax	3,153	2,478	5,159
	x81	-723	-595	-1.167
	Profit/loss for the period	2,431	883 L	3 3,99
	Other comprehensive income which cannot subsequently be reclassified as profit or loss

US C E 0 ension ದ lefined-benefit p on es 112 105 ਕੇ ITY E U P C Actuar	0	0	-2
C 0 US en! 0 defined-benefit on Sass 5 Olys TI E 2 E C ax on actua 1
ns P 0	្ញា	0	0
	0	0	=1
De Other comprehensive income which can subsequently
5 reclassified as profit or loss
ದ ಪ nut ជារ C Ji ਰੋ for 0 nts city E 15 117 D E a 1 rat ជារ ng 172 ch 18 EEE	157 2 ಿ	1 17- to 1.	05 1 1
65 nuth ਕੀ C d el for C 8 רו 1 1 currency of Eul gini p ਕੋ 1	0 ా)	CTV 0 5	30
ntitles ਧੀ C Li ਹੈ fo. C X 17 1 ncy ਕੀ Curr of DIT gin! p her ா 88 1	7 -3	00 દન્ન +	-33
	P -52	0 -1,490	ಕ್ಷಿ-
12 Total other comprehensive Incom-	-52	0 -1.490	ត្រូវ

Half-year report 2024 | Tryg Forsikring A/S | 29

3,984

393

1,903

Comprehensive Income

Statement of financial position (parent company)

DKKm			30.06.2024 30.06.2023 31.12.2023		DKI
Note	Assets				Not
	Intangible assets	31.197	30.730	31,987
	Operating equipment	213	188	1 19
	Group-occupied property	B48	901	47 931
	Total property, plant and equipment	1,061	1,089	1,125
	Investment property		ਨਾ	1
	Investments in Group undertakings	17.315	17,415	17,503
	associates Equity investments in	44	ਟ	ਤੋਂ ਦੇ
	Total Investments In Group undertakings and associates	17,359	17,436	17,537
	Equity investments	48	104	Fri 100
	Jrit trust units	788	5 m	C 3
	Bonds	45.736	33 46	676 ਦੇ ਤੋਂ
	Derivative financial instruments	1,100	0	1.03
	Reverse repurchase lending	203	00 1,31	5 un
	Total other financial investment assets	47,876	47,788	50,895
		世界中 班级	AR 99 R	RA 633
	资料机 机 (股票电视) Total Invastmant

OKKIM			30.06.2024 30.06.2023	31.12.2023
Note
	Reinsurers' share of premium provisions	440	0 50	146
	of claims provisions Reinsurers' share	1,985	1,796	1.774
	Assets from reinsurance contracts	2,426	2,304	1,920
	Receivables from policyholders	3,198	9 2,731	1,787
	Total receivables in connection with direct insurance	3,198	2,736	1,787
	Receivables from insurance enterprises	125 1 54	462	410
	Receivables from Group undertakings	7 91	144	570
	Other receivables	138	1,232	C 17
	Total receivables	4,469	4,575	2,945
	Current tax assets	0	ರಾ 75	0
	hand and in pank at Cash	2,416	1 ਰੋ ਦੇ	1 2,81
	Total other assets	2,416	1,709	2,812
	Interest and rent receivable	33B	270	361
	Other prepayments and accrued income	894	221 75	836
	Total prepayments and accrued Income	,232 1	1,029	1,257
	Total assets	108,036	106,662	110,479

of the document.

Statement of financial position (parent company)

DKKm		30.06.2024	30.06.2023	31.12.2023
Note	Equity and liabilities
	Equity	39.690	39.954	40.062
	Subordinated loan capital	2,977	2,824	3.031
	Premium provisions	4.318	5.587	1.246
	Profit margin - Non-life contracts	5.628	4622	5,952
	Claims provisions	37,338	35,762	38.651
	Risk margin - Non-life contracts	1.428	1.428	1.428
	Provisions for bonus and premium discounts	1,275	1.473	1,239
	Total provisions for Insurance contracts	49,987	48,871	48,516
	Pensions and similar obligations	5 55	54 9	77
	Deferred tax llability	3.147	3,119	3.313
	Other provisions	104	120	F23
	Total provisions	3.306	3,301	3,613
	Debt relating to direct insurance	708	534	77
	Debt relating to reinsurance	173	393	110
	Amounts owed to credit institutions.	B44	066	1,22
	Debt relating to repos	2 494	415 2	4,645
	Derivative financial instruments	5 1.65	7 27. 64	1.588
	Debt to Group undertakings	520	1 7	B 78
	65 iti labi Currenttax	775	401	381

Contingent Liabilities Related parties en -J

• 5
• Accounting policies
• Reconcillation of profit/loss and equity (Danish FSA and IFRS) Key ratios 10

Half-year report 2024 | Tryg Forsikring A/S | 31

5,713 15.219

4,824

4.889 12,062

11.642

8 E

0

Accruals and deferred Income

Other debt Total debt Total equity and liabilities

110.479

106,662

108.036

of the document.

Statement of changes in equity (parent company)

		Revaluation				Non-	holders of Share-	Additional
DKKm	Share capita	equity method	Other reserves	Retained earnings	Proposed dividend	controlling Interest	Tree Forsikring	capital Ther 1	Total equity
Equity at 31 December 2023	1,646	1,387	4,546	30.495	1,000		39,075	987	40,062
H1 2024
Profit/loss for the period		374	-137	-283	2.440		2.394	36	2,431
Other comprehensive income		-11		-516			-527		-527
Total comprehensive income	0	363	-137	-799	2.440		"867	ਤੋਂ ਉ	903
Dividend paid					-2.238		-2.238		-2,238
Interest paid on additional Tier 1 capital							0	-36	-36
Total changes In equity In H1 2024	ற	363	-137	-799	202	ದ	-371	0	-371
Equity at 30 June 2024	1.646	1,750	4.409	29.696	1,202		38.704	987	39,690
Equity at 31 December 2022	1,646	706	4,724	32,502	2,570		42,149	506	42,655
H1 2023
Profit/loss for the period		311	-299	-532	2.385		1.864	2	883
Other comprehensive Income		-32		459 - 1			490 =1		490 -1
Total comprehensive income	0	279	-299	Ball t	2,385	0	374	201	393
Dividend paid					-3,781		-3.78		-3.781
Interest paid on additional Tier 1 capital								27 -1	-19
Issue of additional Tier 1 capital								987	987
Cancellation of Tier 1 capital							0	-280	-280
Total changes in equity in H1 2023	0	279	662	-1.991	-1,396	0	-3.407	707	-2,700
Common	ELE	000	198	E 4			20 724	949	20 GEE

1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1

of the document.

Document ID: 359D3767856A43138023C2A71721B2F5 Half-year report 2024 | Tryg Forsikring A/S | 32

Statement of changes in equity (parent company)

Share-

		Revaluation				Non-	holders of Additional
DKKm	Share capita	method equity	Forderses Other	Retained earnings	Proposed dlyldend	controlling nterest	Tryg Forsikring	Tier	capital Total equity
Equity at 31 December 2022	1.646	706	4,724	32,502	2,570		42,149	506	42,655
2023
Profit/loss for the period		BBB	-178	-2.047	5,460		924 E	ਦੇ ਤੋਂ	EBBE
Other comprehensive Income		-8					្រ		- 3
Total comprehensive Income		GBD	78	-2.048	5,460		5 ត្រូវ m	ਦੇ ਰੋ	3,984
Dividend paid					-7,030		-7.030		-7,030
Interest paid on additional Tier 1 capital								-69	-69
Issue of additional Tier 1 capital								987	983
Cancellation of Tier 1 capital				47			41	-506	-465
Total changes In equity In 2023	0	088	-178	-2.007	-1,570	0	-3.074	48	-2,593
Equity at 31 December 2023	1.646	1.387	4.546	30.495	1.000		39.075	987	40,062

of the document.

Document ID: 359D3767856A43138023C2A71721B2F5 Half-year report 2024 | Tryg Forsikring A/S | 33

Notes (parent company)

.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

---

		17	E	LUTI LOSEL
国家所		2024	2023	2023
	Value adjustments
	at fair value with value adjustment in the income statement: Value adjustments concerning financial assets or liabilities
	Equity Investments	-54	- 4	ર્બ
	Unit trust units	00	-	-4
	Bonds	8 ાં	94	ற 55
	and Inflation. currency Interest. Equity. Derivates	6 -24	349	934
		-167	438	T 1,491

Value adjustments concerning assets or liabilities that

-Б IFRS attributed to cannot be
2 1 proper Investment	4	0
ms TH nollsod aldu final of statement Other	P -7	16 -341	-33
	-75	9 -34	100 -31
	-242	N	455

a) Exchange rate adjustments concerning financial assets or liabilities which cannot be stated at fair value totais DKK 75m (DKK 163m in H1 2023)

DKKm		2024	2023	2023
N	Other costs and Income
	E Include income and costs which cannot be directly ascribed to the Insurance portfollo or Investment assets.
	Other Income
	non-insurance products ੀ। ਕੋ SBI the 10 lated rel noome	ന്നു	TH us	15 1
		19	57	un 111
	Other costs
	E Integration and restructuring costs related to RSA Scandinavi	0	-300	-300
	of non-insurance products Costs related to the sale	-79	11.1 -7	-162
	Other costs"	-268	-16	-500
		-346	9 -53	-962
		-285	-479	-848

Contingent Liabilities m

Please refer to Note 5 "Contingent Liabilities" in Tryg Forsikring Group

Related parties 4

Please refer to Note 6 "Related parties" in Tryg Forsikring Group

Accounting policies un

The Half-year report of the parent company has been prepared in accordance with the Danish Insurance Business Act.

Changes in accounting policies

There have been no changes to the accounting policies or accounting estimates in H1 2024.

Half-year report 2024 | Tryg Forsikring A/S | 34

of the document.

Notes (parent company)

		Hi	H1	EUI Tear
DKKm		2024	2023	P 2023
9	Key ratios
	Clo 18 Claims Gross	ಾರ 1 ਼ੁ	ાં ದ್ದ 100	7 10
	110 ra Net reinsurance	្វ 0	9 n	្ញ 14
	Claims ratio, net of reinsurance	67.8	8 68.	69,5
	ratio Gross expense	ਨੂੰ 100 1	8 g 1	8 00
	Combined ratio	0 84.	'8 പ്രദി 8	8 un 8
	07 rasi ਲ Run-off gains/losses,	7 01	દના 271 10	1 OB.
	ance Insur net of rei Ins/ 05505901 Run-off ga	89 5	ഹ 0 ur	02 7

For definitions of Key ratios = please refer to "Glossary, key ratios and alternative performance measures" on page 36

Reconcillation of profit/loss and equity (Danish FSA and IFRS) 7

differences between the format of the half report under International Financial Reporting Standards and The executive order on application of International Financial Reporting Standards for companies subject to the Danish Insurance Business Act Issued by the Danish FSA requires disclosure of the rules Issued by the Danish FSA.

There is no difference in profit/loss or equity recognised after Danish FSA and IFRS.

This file is and of the Off A Children College Collection College County Collection College Comments of of the document.

Document ID: 359D3767856A43138023C2A71721B2F5 Half-year report 2024 | Tryg Forsikring A/S | 35

Glossary, key ratios and alternative performance measures

Danish Financial Supervisory Authority on the finance companies and multi-employer occupational bension The financial highlights and key ration have been prepared in accordance with the executive order issued by the funds, and also comply with 'Recommendations & Ratios' issued by the CFA Society Denmark.

Claims ratio, net of reinsurance

Gross claims ratio + net reinsurance ratio.

Combined ratio

reinsurance ratio and the gross expense ratio. The sum of the gross claims ratio, the net

Danish general Insurance

Comprises the legal entities Tryg Forsikring A/S, Aktieselskabet Alka Liv II and excluding the Tryg Livsforsikring A/S, Forsikrings-Norwegian and Swedish branches.

Discounting

the market-based discount rate applied and the payment. The size of the discount depends on statements of expected future payments at a recognised amount carries interest until value below the nominal amount, as the Expresses recognition in the financial expected time to payment.

This file is sea

Gross claims ratio

Gross claims x 100 Insurance revenue 10:00 PM B Company of Chicago Cricis Crosses
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Gross expense ratio without adjustment

Gross insurance operating costs x 100 Insurance revenue

nsurance revenue

Calculated as insurance revenue adjusted for change in gross premium provisions.

Net reinsurance ratio

Net expense from reinsurance contracts x 100

Insurance revenue

Norwegian general Insurance

Comprises Tryg Forsikring A/S, Norwegian branch.

Other Insurance

Denmark, Norway and Sweden and amounts relating to business combinations, from RSA relating to one-off items and reclassification Comprises credit & surety insurance (Tryg Garanti) in European countries besides Scandinavia transaction.

Solvency II

Equity plus share of qualifying solvency debt and profit margin (solvency purpose), less intangible

Own funds

assets, tax asset and proposed dividend,

Solvency requirements for insurance companies issued by the EU Commission is the regulatory framework that the Group operates under.

Solvency ratio

Ratio between own funds and capital equirement_

Profit or loss for the period after tax

Return on equity after tax (%)

Weighted average equity

Swedish general Insurance

Comprises Tryg Forsikring A/S, Swedish branch

Unwinding

The difference between the claims provisions at

Run-off gains/losses

the beginning of the financial year (adjusted for discounting effects) and the sum of the claims

foreign currency translation adjustments and

under claims, but under investment result in the payment, the smaller the discount. This gradual Unwinding of discounting takes place with the payment is reduced. The closer the time of ncrease of the provision is not recognised passage of time as the expected time to ncome statement.

claims provisions at the end of the financial year paid during the financial year and the part of the

pertaining to injuries and damage occurring in

earlier financial years.

The seal is a guarantee for the authenticity of the document. Document ID:

359D3767856A43138023C2A71721B2F5

Large claims, net of reinsurance

Large claims, net of reinsurance, as calculated by the Tryg Fprsikring, represents:

single claims or claims events gross above 10m Large claims, net of reinsurance is defined as in local currencies adjusted for reinsurance.

Large claims, net of reinsurance

Insurance revenue

Weather claims, net of reinsurance

calculated by the Tryg Forsikring, represents: Weather claims, net of reinsurance, as

Weather claims, net of reinsurance, is defined as claims related to storm, cloudbursts, natural perils and winter, adjusted for reinsurance.

Weather claims, net of reinsurance

Insurance revenue

Run-off, net of reinsurance

Run-off, net of reinsurance, as calculated by the Tryg Forsikring, represents

Run-off, net of reinsurance

Return On Tangible Equity (ROTE)

(Tangible Equity beginning of the year + Profit for the period after tax x 100

Tangible Equity end of the period)/2

Tangible Equity

Tangible Equity is defined as weighted average equity excluding intangible assets and deferred tax related to intangible assets

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359D3767856A43138023C2A71721B2F5

Disclaimer

based on the beliefs of our management as well seeks', 'will', 'may', 'anticipates', 'would', 'could', currently available to management. Statements strategy, plans and future objectives other than results, financial position, cash flows, business identified by the use of words such as 'targets', Certain statements in this financial report are statements of historical fact can generally be regarding Tryg Forsikring's future operating 'belleves', 'expects', 'aims', 'intends', 'plans', as assumptions made by and information continues' or similar expressions.

actual performance to deviate significantly from natural disasters or terrorist attacks, changes in the forward-looking statements in this financial competitive environment, developments in the financial markets, extraordinary events such as A number of different factors may cause the report, including but not limited to general economic developments, changes in the legislation or case law and reinsurance.

CONSECTION STORES ASSESS ASSESS ASSESS OF COLLECTION STATES ASSESS OF COLLECTION OF COLLECTION OF COLLECTION OF COLLECTION OF COLLECTION OF COLLECTION OF COLLECTION OF COLLEC

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Document: ID: 359D3767856A43138023C2A71721B2F5

statements or to conform such statements to actual results, except as may be required by materially differ from that described herein incorrect, Tryg Forsikring's actual financial expected. Tryg Forsikring is not under any duty to update any of the forward-looking condition or results of operations could uncertainties materialise, or should any as anticipated, believed, estimated or Should one or more of these risks or underlying assumptions prove to be law.