Tryg (TRYG) Danske Bank winter seminar presentation summary

Market position and scale

• Leading insurance provider in Scandinavia with approximately 6 million customers and strong brands across Denmark, Sweden, and Norway.

• Holds #1 market share in Denmark (24%), #3 in Sweden, and #4 in Norway, processing around 2.2 million claims annually.

• Significant scale achieved through major acquisitions, notably alka (2018) and Trygg-Hansa Codan (2021), boosting insurance service results.

Financial performance and resilience

• Demonstrated robust performance despite macroeconomic and geopolitical challenges, including inflation and currency fluctuations.

• Insurance Service Result (ISR) grew from DKK 6,272m in 2022 to DKK 7,056m in 2024, with a combined ratio improving from 83.2% to 81.7%.

• Maintained strong solvency ratios (above 190%) and delivered stable, increasing dividends per share.

Strategic pillars and initiatives

• Strategy '27 focuses on Scale & Simplicity, Technical Excellence, and Customer & Commercial Excellence, targeting DKK 1bn ISR uplift by 2027.

• Expanded partnership with TCS to streamline IT, reducing organizational complexity and vendor count, with a 33% reduction in IT FTEs by 2026.

• Technical excellence initiatives in Norway improved profitability, with a new underwriting platform and smarter, risk-based pricing.