Tryg’s Supervisory Board has today approved the annual report 2022.
Technical result of
Tryg technical result 2022 vs 2021 comparable, DKKm | 2021 | 2022 | |
Tryg technical result as reported | 3,709 | 6,177 | |
Codan NO and Trygg-Hansa technical result | 2,182* | 627** | |
Technical result new group pro-forma | 5,891 | 6,804 | |
* Pro-forma technical result for 2021 | |||
** Trygg-Hansa and Codan Norway were equity accounted in Q1 2022 and included in the investment result, the Q1 technical result of |
Financial highlights 2022
- Premium growth of 5.9% (4.9%) in local currencies
- Technical result of
DKK 6,177m (DKK 3,709m ) - Combined ratio of 82.2 (84.5)
- Expense ratio of 14.1 (14.1)
- Investment return on the free portfolio of DKK -945m (
DKK 869m ) - Total investment return of DKK -1,193m (
DKK 870m ) - Profit before tax of
DKK 3,051m (DKK 3,956m ) - Full-year dividend of
DKK 6.29 per share and solvency ratio of 201
Financial highlights Q4 2022
- Premium growth of 6.7% (2.6%) in local currencies
- Technical result of
DKK 1,689m (DKK 1,380m ) - Combined ratio of 82.1 (84.1)
- Underlying claims ratio (Group) improved by 0.8 percentage points
- Expense ratio of 14.3 (14.6)
- Investment return on the free portfolio of DKK 205m (
DKK 275m ) - Total investment return of DKK 317m (
DKK 803m ) - Profit before tax of
DKK 1,377m (DKK 1,458m ) - Q4 dividend per share of
DKK 1.60 per share
Customer highlights Q4 2022
- Customer satisfaction score of 85 (85)
- For the seventh year in a row, TryghedsGruppen decided to pay a member bonus. The bonus is around
DKK 1.2bn , equivalent to 8% of the premiums paid in 2021
Statement by Group CEO
Tryg’s core business continued to develop positively with a premium growth of 5.9%. The top-line development was driven primarily by the Private and Commercial businesses. In spite of the external geopolitical and macroeconomic challenges, we perform well and continue to deliver a solid technical result of
The integration of Trygg-Hansa and Codan Norway is progressing according to plan. We are delivering synergies ahead of schedule, and finally we keep leveraging from being a larger business with a more balanced Scandinavian footprint, which benefits both our innovation power, product development and financial strength. Importantly we will book the final
Despite a challenging macroeconomic environment in the recent year, our skilled employees have managed to successfully adapt, take the necessary precautions and steer the business towards a record result. Inflation levels, impacting our markets at different speeds, inevitably affect our claims expenses, and we will therefore continue a diligent focus on managing the impact from inflation through price adjustments and through our strong purchase agreements across the Scandinavian markets. Our financial targets for 2024 are unchanged, the technical result target of
I am also pleased to share that we also saw strong progress on our ESG strategy; advancing sustainable decisions throughout our entire value chain. Finally, I am also happy to announce a full-year dividend per share of
Conference call
Tryg hosts a conference call today at
The conference call will be held in English. An on-demand version will be available shortly after the conference call has ended.
Conference call details:
Danish participants: +45 78 76 84 90
US participants: +1 646 787 0157
PIN: 560768
The annual report material can be downloaded on www.tryg.com/downloads-2022 shortly after the time of release.
Attachments
- 05_TRYG_Annual report_2022
- TRYG-2022-12-31-en
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