reports
- ABGSC Financials Research
- Fredrik Flørnes Støle
- Jan Erik Gjerland
- ABGSC Financials Research
- Fredrik Flørnes Støle
- Jan Erik Gjerland
- ABGSC Financials Research
- Fredrik Flørnes Støle
- Jan Erik Gjerland
- Håkon Astrup
Seeing the effects of repricing
Warm weather in the quarter, albeit with periods of heavy rainfall, should support seasonally low claims, while we expect to see the results of the strong premium repricing since H2 2023. Stable interest rates in most markets and solid equity performance QOQ should further support Q2 earnings. Sampo is our Nordic non-life top pick, following its long-awaited bid for the remaining shares in Topdanmark.
Tryg analyst day
Tryg analyst day Tryg is hosting an analyst day today at Tryg's headquarters in Ballerup. The event is dedicated to the sell-side analysts that cover the share. No new financial or strategic targets will be revealed - presentations from different business units will be shown. The presentation can be found on Tryg.com or attached here. Attachment
- ABGSC Financials Research
- Fredrik Flørnes Støle
- Jan Erik Gjerland
- MarketLine Department
Storebrand ASA - Mergers & Acquisitions (M&A), Partnerships & Alliance...
Summary Marketline's Storebrand ASA Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by Storebrand ASA - Mergers & Acquisitions (M&A), Partnerships & Alliances since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments rep...
Tryg A/S – total number of voting rights and capital
Tryg A/S – total number of voting rights and capital With reference to section 32 of the Danish Capital Markets Act (Kapitalmarkedsloven), Tryghereby publishes the company's total number of voting rights and the total share capital. After the capital decrease registered on 29 April 2024 the company's share capital was reduced by nominal DKK 92,214,355 to nominal DKK 3,081,960,545. Tryg's nominal share capital amounts to DKK 3,081,960,545 equivalent to 616.392.109 shares and 308,196,054,500 voting rights as of 30 April 2024. Attachment
Tryg A/S – capital reduction
Tryg A/S – capital reduction At Tryg’s annual general meeting on 21 March 2024, it was decided to cancel repurchased shares from the Group’s share buy back programmes. The Group’s share capital is reduced by nominal DKK 92,214,355 to nominal DKK 3,081,960,545. The reduction of the share capital was announced by the Danish Business Authority on 22 March 2024. Tryg has not received any objections to the capital reduction. Therefore, the reduction is effective as the Danish Business Authority has registered the capital reduction. After the cancellation of the 18,442,871 repurchased share...
- ABGSC Financials Research
- Jan Erik Gjerland
- Håkon Astrup
Gjensidige Forsikring (Buy, TP: NOK197.00) - Turning point in sight
Harsh weather during Q1 led to elevated claims and a combined ratio deterioration of 5.7%-points YOY despite insurance revenues growing 11% YOY. Adjusting for weather and other items, the claims ratio improved 0.2%-points YOY, a sign that the sharp repricing efforts during 2023 are starting to take effect. Combined with signs of abating claims frequencies and further repricing, we expect continued underwriting improvements. We reiterate our BUY, having raised our 2025–2026e EPS by 3% and our tar...
- ABGSC Financials Research
- Jan Erik Gjerland
- Håkon Astrup
Tryg (Buy, TP: DKK185.00) - Continued underlying improvement
Q1 PTP was down 15% YOY to DKK1,007m (as we and consensus expected), reflecting the harsh winter weather and a high-profile claim in Sweden. However, the underlying claims ratio extended its long run of improvements, ending 0.5%-points stronger YOY. Given the ongoing premium repricing and CMD in December, we expect focus to remain on maintaining underwriting discipline, supporting continued improvements. We have made limited changes to our 2025–2026e net profit, and reiterate our BUY and DKK185 ...
Reporting of granting of Tryg shares to Allan Kragh Thaysen (CFO) and ...
Reporting of granting of Tryg shares to Allan Kragh Thaysen (CFO) and Alexandra Bastkær Winther (CCO) Group CFO Allan Kragh Thaysen has been granted 5,002 Tryg shares for a total amount of DKK 687,775. Group CCO Alexandra Bastkær Winther has been granted 4,473 Tryg shares for a total amount of DKK 615,037. Granting of the shares are related to the bonus programme in 2020. Attachment
Tryg A/S – 1. kvartals rapport 2024
Tryg A/S – 1. kvartals rapport 2024 Trygs bestyrelse har i dag godkendt 1. kvartals rapport for 2024 Tryg rapporterede et insurance service result på 1.275 mio. DKK (1.474 mio. DKK) og en combined ratio på 86,6 (84,0) i 1. kvartal 2024 påvirket negativt af højere end normalt vejr- og storskader niveau for mere end 180 mio. DKK. Den underliggende erstatningsprocent for Tryg Koncernen blev forbedret med 0,5 procentpoint, hvorimod Privat havde en forværring i den underliggende erstatningsprocent på 0,5 procentpoint påvirket af en stigning i frekvensen for motor skader. Tryg rapporterede en...
Tryg A/S – Interim report Q1 2024
Tryg A/S – Interim report Q1 2024 Tryg’s Supervisory Board has today approved the Q1 2024 interim report. Tryg reported an insurance service result of DKK 1,275m (DKK 1,474m) and a combined ratio of 86.6 (84.0) in Q1 2024, adversely impacted by more than DKK 180m higher than normal weather and large claims level. The underlying claims ratio for the Group improved by 50bps, whilst the Private segment displayed a deterioration of 50bps driven by an increase in motor claims frequency. Tryg reported a top-line growth of 4.8% primarily driven by price increases to offset inflationary pressu...
- Håkon Astrup
Repricing the tonic for bad weather
We expect above-normal weather-related claims in Q1 as a result of heavy rain and snowfall (and record-low temperatures) in the Nordics at the start of the year. On the positive side, we believe the non-life insurers should see the effects of 2023’s repricing efforts, while their latest CMD presentations leave us confident the sector remains committed to maintaining underwriting discipline. Tryg is our top pick in the Nordic P&C sector, while we also reiterate our BUYs on Sampo and Gjensidige an...
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