First quarter 2008 report

To OMX Nordic Exchange Copenhagen, Announcement no. 12 - 2008

 

Highlights (compared with the first quarter of 2007)                     

• 4.9% gross earned premium growth (5.9% in DKK) in the first quarter of 2008. By  comparison, the increase from the first quarter of 2006 to 2007 was 1.7%
• 3.6% gross earned premium growth and enhanced profitability in Private & Commercial Norway
• Technical result was up 20% to DKK 637m
• Combined ratio improved by 1.7 percentage points to 87.9
• Pre-tax profit of DKK 261m, a decline of DKK 422m caused by declining equity prices
• 10.4% return on equity before tax
• TrygVesta upgrades its expectations for the technical result for 2008 by 9% to DKK 2.4bn and improves the combined ratio forecast from 90 to 89.  Premium growth expectations are maintained, and profit before and after tax is downgraded due to equity price falls.
• New motor insurance initiatives in Denmark enhance customer experience
• TrygVesta buys its Ballerup head office, which was previously leased, for DKK 1,085m
• New customer system implemented in Norway

 

Read TrygVesta's Q1 2008 report

 

Yderligere information:

For yderligere information kontakt Investor Relation:

 

• Investor Relations-direktør Ole Søeberg. Telefon +45 44 20 45 20 eller e-mail ole.soeberg@tryg.dk
• Investor Relations Manager Lars Møller. Telefon +45 44 20 45 17 eller e-mail lars.moeller@tryg.dk

 

TrygVesta er den ledende nordiske tryghedsleverandør med forsikringsaktiviteter i Danmark, Norge, Sverige og Finland. TrygVesta er noteret på OMX Nordiske Børs København, og 60 % af aktierne ejes af Tryg i Danmark smba.