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Tryg — Regulatory Filings 2017
Nov 20, 2017
3389_rns_2017-11-20_5e58ef4f-e689-45b0-b554-0204d9397733.pdf
Regulatory Filings
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Tryg
To NASDAQ Copenhagen
Announcement no. 17 – 2017
20 November 2017
Tryg A/S – New financial targets and Capital Markets Day in London
Tryg is hosting a Capital Markets Day in London. The purpose of the Capital Markets Day is to inform analysts, institutional investors, shareholders and business journalists on Tryg's plan for the coming three years, including both financial targets and customer targets.
At the Capital Markets Day in November 2014, a number of targets were set for the period leading up to 2017. All the financial targets are on track and expected to be met at the end of 2017. All the customer targets are expected to be met in Denmark and partially met in Norway.
New financial targets
Tryg has defined new financial targets for 2020. A technical result of DKK 2.8bn is targeted for 2020 driven by a combined ratio of 87 or lower and an expense ratio around 14. Run-off gains are estimated to be between 3%-5% in 2020 against a current level of 6%-7%. The return on equity target is lifted from 21% or above to 23% or above after tax.
Customer focus
The customer is our most important asset and Tryg continuously work to improve the customer experience. Tryg is targeting a TNPS (Transactional Net Promoter Score) of 70 for 2020 against a current level of 59 and an increase of 10% in the number of products per customers.
Capital and dividend
Tryg's Supervisory Board has decided to propose an extraordinary dividend of DKK 1bn corresponding to DKK 3.6 per share to be approved by the Annual general meeting on 16 March 2018.
Tryg remains focused on optimising its capital position. This include a potential Tier 1 issue of approximately DKK 500m in H1 2018, a further optimisation of its partial internal model which could lower the SCR (Solvency Capital Requirement) by up to 10% and IT investments of approximately DKK 500m. The Solvency ratio (pro forma) is estimated to be 213 at the end of Q3 already deducting the extraordinary dividend.
Today's presentation is available on Tryg.com. The Capital Markets Day will be webcasted live from 9:30 GMT to approximately 11:30 GMT. The webcast will subsequently be available on tryg.com.
Tryg | Klausdalsbrovej 601 | DK-2750 Ballerup
+45 70 11 20 20 | www.tryg.dk
Tryg Forsikring A/S | CVR No.24260666
Tryg
Contact information:
- Gianandrea Roberti, Investor Relations Officer +45 20 18 82 67
[email protected] - Peter Brondt, Investor Relations Manager +45 22 75 89 04 [email protected]
- Tanja Frederiksen, Head of Communications +45 51 95 77 78 [email protected]
Visit tryg.com and follow us on twitter.com/TrygIR
Tryg is one of the largest non-life insurance companies in the Nordic region with activities in Denmark, Norway and Sweden. Tryg provides peace of mind and value for 3 million customers on a daily basis. Tryg is listed on NASDAQ Copenhagen and 60% of the shares are held by TryghedsGruppen smba. TryghedsGruppen, annually, contributes around DKK 600m to peace of mind purposes via TrygFonden.
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