New financial targets
Tryg has set new financial targets towards 2015 where the cost ratio is expected to be reduced to less than 15. This is to be achieved through a reduction of expenses of DKK 300m and reduced claims expenses of DKK 700m. The total savings initiatives are expected to improve the combined ratio level. From Q3 2013, Tryg expects a combined ratio at 90 or below.
External review of reserves
In the first half of 2012, KPMG has carried out a review of Tryg’s claims reserves, which is the first time since Tryg’s IPO in October 2005. KPMG’s review has confirmed Tryg’s assessment of the reserve levels.
Capital Markets Day
Tryg’s Capital Markets Day is held in London today. The purpose of the Capital Markets Day is to furnish analysts, institutional investors and journalists with an update on Tryg’s development including profitability initiatives and financial targets.
The presentation from today’s Capital Markets Day is available on tryg.com. The Capital Markets Day will be broadcast live from 10.30 CET to approximately 14.30 CET and later in the day the webcast is available from the same site.
Additional information:
For further information visit tryg.com or contact Investor Relations;
Investor Relations Director Lars Møller. Phone +45 22 66 66 05 and e-mail lars.moeller@tryg.dk
Investor Relations Manager Peter Brondt. Phone +45 22 75 89 04 and e-mail peter.brondt@tryg.dk
Tryg is the leading Nordic provider of “peace of mind” solutions with property & casualty insurance operations in Denmark, Norway, Finland and Sweden. Tryg is listed on Nasdaq OMX Copenhagen and 60% of the shares are held by TryghedsGruppen smba.
