trending Market Intelligence /marketintelligence/en/news-insights/trending/vo1W-_Yrku1x6k4xISdLIQ2 content esgSubNav
In This List

Higher investment income boosts Tryg Q2 profit


The Big Picture 2022 Insurance Industry Outlook


Next in Tech | Episode 37: Insurance impacts on technology and vice versa

Case Study

A Prestigious Global Business School Gains a Competitive Edge


S&P Capital IQ Pro | Unrivaled Sector Coverage

Higher investment income boosts Tryg Q2 profit

reported second-quarterprofit of 734 million Danish kroner, or 2.61 kroner per share, up from 580million kroner, or 2.02 kroner per share, in the year-ago period.

Thecompany attributed the year over year rise in profit to a "substantiallybetter" investment return. The company posted an investment return afterinsurance technical interest of 181 million kroner, compared to an investmentloss of 84 million kroner a year ago.

Thecompany's technical result, dampened by the weakened Norwegian currency,declined to 770 million kroner from 825 million kroner in the second quarter of2015.

Grosspremium income for the period dropped year over year to 4.38 billion kronerfrom 4.55 billion kroner; gross claims declined to 2.82 billion kroner from3.86 billion kroner.  

Thecombined ratio for the period was 82.6%, compared to 82.2% in the secondquarter of 2015. The insurer's combined ratio target for 2017 is a maximum of87%.

After-taxROE for the quarter increased to 31.5% from 23.9% a year earlier. The companyis targeting an after-tax ROE of at least 21% in 2017.

Forthe first half, Tryg posted profit of 1.18 billion kroner, compared to 1.11billion kroner in the first half of 2015. First-half gross premium income was8.69 billion kroner, compared to 9.00 billion kroner a year earlier, whilegross claims dropped to 5.68 billion kroner from 7.06 billion kroner.

The company's Solvency ratio was 206%, based on the partialinternal model, at the end of June, compared to 212% at the end of March and151% a year ago.

Thecompany announced that it will pay July 15 a semiannual dividend of 2.60 kronerper share, compared to 2.50 kroner paid for the first half of 2015.

As of July 11, US$1 wasequivalent to 6.73 Danish kroner.