143 0 Kommentare Tryg A/S – Annual report 2020 - Seite 2

The good development of Tryg’s core business continued with a strong growth of 7% for the Group, supported by the Private and Commercial segments. In Corporate, the profitability initiatives are starting to improve the numbers, but it is important to remember that this is a long-term journey to improve a segment that has always been challenging due to different market dynamics.

Capital markets developments have been extreme in 2020. Tryg has booked a mark to market loss of nearly DKK 1bn in Q1 but the year is ending with a positive investment result of more than DKK 300m following a strong capital markets recovery in the following nine months.

In 2020, customer satisfaction continued to break records. This is very positive as it has been a difficult period for our 4,400 employees who, amongst other things, have handled 100.000 extra COVID-19-related claims and 250.000 extra phone calls compared to a normal year, all of this while working from home.

Tryg has met all 2020 financial targets set at a capital markets day in November 2017, a new strategy will be unveiled at a capital markets day that will be hosted in the Autumn.

On 18 November 2020, Tryg made a recommended cash offer to acquire RSA’s Swedish and Norwegian business and 50% of the Danish business in a potential acquisition that will create the largest Scandinavian non -life insurer. Shareholders of Tryg and RSA have voted in favor of the deal and now we wait for the final approval from authorities before Tryg can take over Trygg-Hansa in Sweden and Codan in Norway. I look very much forward to welcome Trygg-Hansa and Codan Norway’s 1.3m customers and 1,500 employees in the Tryg family.

Conference call

Tryg hosts a conference call today at 10:00 CET. CEO Morten Hübbe, CFO Barbara Plucnar Jensen and CCO Johan Kirstein Brammer 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.