Tryg has been assigned an ‘A2’ rating from Moody’s

Tryg has been assigned an ‘A2’ financial strength rating from Moody’s. The rating is assigned to the two operating entities, Tryg Forsikring and Tryg Garanti. Additionally, Moody’s has assigned a Baa1 rating on the subordinated debt issued by Tryg Forsikring. The ratings of the issuers have a positive outlook.

In its press release, Moody’s notes that “the ‘A2’ IFSR reflects Tryg’s leadership position in Property & Casualty (P&C) insurance in the Nordic region, its strong profitability both from a return on capital and underwriting (combined ratio) perspective, very good asset quality and relatively low financial leverage.”

Moody’s also note that “other credit strengths include a relatively conservative investment philosophy compared to direct Nordic peers, and relatively low adjusted financial leverage of 15% at end of 2015.”

At the same time, Tryg has decided to terminate the rating agreement with Standard & Poor’s (S&P). Tryg appreciates the good cooperation with S&P since Tryg’s IPO in 2005.