Q2 and H1 report 2012

Tryg A/S 

14.08.2012 17:01
---------------------------------------------------------------------------

Tryg's Supervisory Board has today approved the Q2 and H1 report 2012.

The second quarter of 2012 had the lowest combined ratio for five years as a
result of profitability measures, a low level of large claims and a gain on
reinsurance. The improvement occurred despite a lower interest rate level with
a significant negative impact on the combined ratio. 


Highlights of Q2 2012

  -- Pre-tax result of DKK 708m (DKK 487m). Technical result of DKK 835m (DKK
     507m).
  -- Improvement in the combined ratio of 6.6 percentage points to 84.7 (91.3). 
  -- The lower interest rate level impacted the combined ratio negatively by 1.4
     percentage points and led to the increase of the Norwegian pension
     provision by DKK 143m.
  -- The high run-off rate of DKK 349m (DKK 133m) was affected by income from
     reinsurance agreements.
  -- Premium growth of 0.3% in local currency, mainly as a result of implemented
     price increases in Denmark and Norway and the deliberate reduction of
     growth in Sweden and Finland.
  -- Lower expense ratio of 16.8 (17.0), based especially on a reduction of 48
     employees in the quarter.
  -- Positive return of DKK 41m in the match portfolio - significantly affected
     by the changed discount curve and interest rate hedging of Norwegian
     interest rate swaps. Return of 0.8% in the free investment portfolio.
  -- The value of owner-occupied properties written down in Denmark and written
     up in Norway.
  -- Return on equity after tax of 21.5%.

Highlights of the first half of 2012

  -- Pre-tax result of DKK 1,429m (DKK 848m). Technical result of DKK 1,201m
     (DKK 775m).
  -- Improvement in the combined ratio of 4.4 percentage points to 89.3 (93.7). 
  -- Gross claims impacted by the strengthening of provisions for cloudburst in
     July 2011 of approximately DKK 300m. Covered by reinsurance and thus
     negligible effect on earnings.
  -- The lower interest rate level negatively impacted the combined ratio by 1.5
     percentage points and led to the increase of the Norwegian pension
     provision by DKK 171m.
  -- Premium growth of 0.7% in local currency, mainly as a result of price
     increases in Denmark and Norway and the deliberate reduction of growth in
     Sweden and Finland.
  -- Positive return of DKK 48m in the match portfolio - significantly affected
     by the changed discount curve and interest rate hedging of Norwegian
     interest rate swaps. The free investment portfolio generated a return of
     5.4%.
  -- The value of owner-occupied properties written down in Denmark and written
     up in Norway.
  -- Return on equity after tax of 23.0%.
     
     Download the entire report on http://tryg.com
News Source: NASDAQ OMX



14.08.2012 Dissemination of a Corporate News, transmitted by DGAP - 
a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

---------------------------------------------------------------------------
 
Language:     English
Company:      Tryg A/S
              .
              . .
              Denmark
Phone:        .
Fax:          .
E-mail:       .
Internet:     .
ISIN:         DK0060013274
WKN:          
 
End of Announcement                             DGAP News-Service
 
---------------------------------------------------------------------------