Annual Report 2009 (compared 2008)
9.6% premium growth in local currency.
Despite the high growth the cost ratio declined from 17.3 to 16.9
Pre-tax profit was better than expected and impacted by better investment
result, however insurance earnings were impacted by lower level of interest
rates and higher claims for Danish house and content insurances.
2010 premium growth is expected to be 3-4 % and combined ratio before run-off
is expected to be 93-95 compared with 96.2 for 2009.
2009 key figures
DKKm 2008 2009
Premium income 17,323 18,283
Technical result 2.284 1,554
Investment results -998 1,086
Pre-tax profit 1,347 2,602
Net income 846 2,008
Combined ratio was 92.3 compared with 89.1 and impacted by lower level of
interest rates and increasing claims for Danish house and content insurances.
For 2009 a total distribution to shareholders of DKK 1.8bn is proposed of which
cash dividend is DKK 1.0bn (DKK 15.50 per share) and a share buyback program is
DKK 0.8bn.
Read the entire report at www.trygvesta.com
