Tryg A/s · OMXCOP:TRYG
Tryg A/s — Q1 2008 Earnings Presentation
12 slides from Tryg A/s's earnings presentation, May 5, 2008
Slide 1: Webcast – Q1 2008 results
1 Webcast presentation Webcast – Q1 2008 results Stine Bosse, CEO 5 May 2008
Slide 2: Highlights Q1 2008
Highlights Q1 2008 2 Webcast presentation 4.9% premium growth (5.9% in DKK) and combined ratio of 87.9 • Solid growth in P&C Norway, Corporate and not least New Markets • Moderate growth in expenses and a mild winter fuel 20% growth in technical result to DKK 637m • Investment result, net of minus D
Slide 3: Key performance indicators
Key performance indicators 3 Webcast presentation Gross premium Combined ratio DKKm 4.400 96 4.268 92.0 4.232 4.233 92 89.6 4.200 87.9 88 87.2 4.107 86.2 4.071 84.8 83.7 83.7 4.005 84 83.0 3.985 3.999 4.000 3.960 80 3.800 76 Q1 06 Q2 06 Q3 06 Q4 06 Q1 07 Q2 07 Q3 07 Q4 07 Q1 08 Q1 06 Q2 06 Q3 06 Q4
Slide 4: Gross premiums grew DKK 234m to DKK 4,233m
Gross premiums in Q1 2008 4 Webcast presentation Gross premiums grew DKK 234m to DKK 4,233m • Good growth in Corporate and New Markets (Finland & Sweden) • P&C Norway growth turning positive to 3.6% from 1.4% decline in Q1 2007 • Solid progress in retention rates in Denmark and Norway DKKm Gross pre
Slide 5: Average prices for main products are trending upward
Average price development for TrygVesta 5 Webcast presentation Average prices for main products are trending upward • Danish car insurance prices have been impacted by lower prices in 2006 and 2007 due to changed conditions in contracts (mileage) • New initiatives implemented April 2008 on Danish ca
Slide 6: Technical result grew 20% to DKK 637m
Technical result 6 Webcast presentation Technical result grew 20% to DKK 637m • Q1 2008 favourably impacted by mild winter and positive run-off • Technical result excluding run-off was DKK 464m, up 58m Technical result per business area DKKm DKKm 700 700 74 8 8 4 637 500 317 600 20 243 30 32 98 61 5
Slide 7: Frequency and average claims
7 90 92 94 96 98 100 102 90 95 100 105 110 115 120 Q Q 10 10 5 5 Q Q 20 20 5 5 Q Q 30 30 5 5 Q Q 40 40 5 5 Q Q 10 10 6 6 Frequency Norway Q Q 20 20 6 6 Q Q Average claims Norway 30 30 6 6 Q Webcast presentation 40 Q 40 6 6 Q Q 10 10 7 7 Q Q 20 20 7 7 Q Q 30 30 7 7 Q Frequency and average claims 40 Q
Slide 8: Large claims, weather related claims and run-off
Large claims, weather related claims and run-off 8 Webcast presentation A mild winter has given a lower level of claims in the start of 2008 Large claims Weater Related claims, gross DKKm DKKm 1,200 1,000 911 1,042 1,000 800 800 461 637 600 416 600 501 500 (2008e) 400 332 400 340 300 275 400 (2007e)
Slide 9: Investment results Q1 2008
Investment results Q1 2008 9 Webcast presentation Net investment result of minus DKK 365m compared with DKK 152m in Q1 2007. • Investment portfolio of DKK 38.7bn • Performance in 2007 and 2008 impacted by decline in equities • Weight of equities actively reduced to approximately 5% from 15% since en
Slide 10: Outlook 2008
Outlook 2008 10 Webcast presentation 2008 2008 Negative Positive DKKm 2007 February May scenario scenario 2008 2008 Premium growth in local currency 4% 5% 5% Technical result before run-off 2,077 2,200 2,200 2,050 2,350 Technical result after run-off 2,820 2,200 2,400 2,250 2,550 Investment result,
Slide 11: Thank you
11 Webcast presentation Thank you
Slide 12: Disclaimer
Disclaimer 12 Webcast presentation Certain statements in this presentation are based on the beliefs of our management as well as assumptions made by and information currently available to the management. Forward-looking statements (other than statements of historical fact) regarding our future resul