This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
Tryg Forsikring's full annual report for 2024 will be published 7 February 2025
Annual report 2024 for the entire Tryg Group is available on Tryg.com.
Tryg Forsikring Group reported an insurance service result of DKK 7,324m (DKK 6,399m) and a combined ratio of 81.0% (82.8%) in 2024. The higher insurance service result was supported by a growth of 4.1% in local currencies, a benign large claims experience, and the delivery of accumulated synergies of DKK 930m from the RSA Scandinavia acquisition. The investment result was DKK 641m (DKK 615m) driven by positive returns across most asset classes. Pre-tax profit was DKK 6,423m (DKK 5,199m) and profit after tax was DKK 4,911m (DKK 3,993m). The reported solvency ratio at the end of 2024 was 197% for Tryg Forsikring A/S (Parent company).
Financial highlights 2024
- Insurance revenue growth of 4.1% in local currencies (4.8%)
- Insurance service result of DKK 7,324m (DKK 6,399m)
- Combined ratio of 81.0% (82.8%)
- Expense ratio of 13.5% (13.4%)
- Investment result of DKK 641m (DKK 615m)
- Profit before tax of DKK 6,423m (DKK 5,199m)
- All financial targets for 2024 have been achieved
Customer highlights 2024
- Customer satisfaction score of 87 (86)
Statement by Group CEO Johan Kirstein Brammer:
"2024 was a year of satisfactory results, and we are pleased to have reached all our financial targets for both the full year and the entire strategy period. We emerge from a period of significant macroeconomic challenges with solid key figures and a strengthened core business. This demonstrates Tryg Forsikring's resilience once again as we continue to deliver on the commitments made to both customers and shareholder," says Johan Kirstein Brammer, Group CEO, Tryg Forsikring.
"Moreover, we have successfully conducted a de-risking of our Corporate portfolio, while also delivering on the ambitious synergy and ROOF targets set for the strategy period. These results represent an excellent opportunity to further improve Tryg Forsikring's market position and provide a strong foundation to raise our ambitions with the new strategy towards 2027" he says.
