Tryg’s Supervisory Board has approved the annual report 2013.
With a return on equity of 21.5% and a combined ratio of 87.7, 2013 was a satisfactory year for Tryg. The result after tax was DKK 2.369m (DKK 2.208 m). The results were in line with the defined targets of a return on equity of 20% and a combined ratio of 90 or lower. The satisfactory results were achieved despite a generally higher level of weather claims in 2013, where two windstorms hit Denmark in Q4 with more than 45,000 claims processed. It was especially efficiency improvements, savings and better procurement that created the satisfactory results.
Highlights year 2013
- Profit before tax of DKK 2,993m (DKK 3,017m)
- Technical result of DKK 2,496m (DKK 2,492m)
- Combined ratio of 87.7 (88.2)
- High weather claims level affected combined ratio with 3.2 pp
- Expense ratio improved from 16.4 to 15.6
- Investment return of DKK 588m (DKK 585m)
- Proposed dividend of DKK 27 per share
- Extraordinary share buy back of DKK 1,000m in 2014 initiated on 2 January
Highlights 4 Quarter 2013
• Profit before tax of DKK 639m (DKK 638m)
• Technical result of DKK 546m (DKK 648m)
• Combined ratio of 89.1 (87.4)
• Weather Claims affected combined ratio with 8.8 pp mainly because of the two storms
• Expense ratio of 15.4 (16.3)
• Investment return of DKK 154m (DKK 5m)
Tryg hosts a conference call today at 9:30 CET. CEO Morten Hübbe and CFO Tor Magne Lønnum 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.
All annual materiel can be downloaded on tryg.com/dk/Investor/Downloads shortly after the time of release.
Conference call details:
Danish participants: +45 35 44 55 83
UK participants: +44 (0) 203 194 0545
US participants: +1 855 269 2604
Contact information:
- Lars Møller Investor Relations Director +45 44 20 45 17 lars.moeller@tryg.dk
- Peter Brondt Investor Relations Manager +45 22 75 89 04 peter.brondt@tryg.dk
- Steffen Lundgren Kristensen Communications Director +45 41 86 28 92 Steffen.kristensen@tryg.dk
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