Q1 2026 Tryg A/S Earnings Call Transcript
Key Points
- Tryg AS (TGVSF) reported a premiums growth of 3.5%, primarily driven by the Private segment, especially in Norway.
- The insurance service result was strong at DKK1.655 billion, with a combined ratio of 84%, indicating improved profitability.
- The underlying claims ratio improved by 40 basis points, showing positive trends in profitability initiatives, particularly in Norway.
- Tryg AS (TGVSF) maintained a conservative asset mix, which provided downside protection during volatile market conditions.
- The company declared a Q1 dividend per share of DKK2.15 and reported a robust solvency ratio of 192%, supporting future capital repatriation.
- The Commercial segment experienced lower growth due to a challenging January 1 renewal.
- The investment result was modest at DKK2 million, reflecting market volatility due to geopolitical tensions.
- Higher large and weather claims were recorded, although they remained below normal levels.
- The solvency ratio decreased slightly from 196% to 192% compared to the previous quarter.
- There is ongoing concern about potential inflation impacts from geopolitical tensions, particularly affecting motor and property liabilities.
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Good morning, everybody. My name is Gianandrea Roberti. I'm Head of Financial Reporting at Tryg. We published our Q1 figures earlier this morning. And I have here with me, Johan Brammer, our Group CEO; Allan Thaysen, our Group CFO; and Mikael Kaerrsten, our Group CTO, to present the numbers.
With these few words, over to you, Johan.
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Thanks a lot, Gian. And a very good morning from me as well. This is a good day, and I will go straight to the first section of the presentation, where I'll start by commenting on the financial highlights as usual, as well as comment a bit on the revenue development.
So Tryg reported a premiums growth of 3.5%, primarily driven by the Private segment and in particular, by our Norwegian business, whereas the Commercial segment reported lower growth
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