Tryg A/s · OMXCOP:TRYG
Tryg A/s — Investor Day (December 2024)
94 slides from Tryg A/s's investor day presentation, Dec 4, 2024
Slide 1: Tryg Capital Markets Day
Tryg Capital Markets Day December 4, 2024 United Towards ‘27 Leveraging scale to drive technical and commercial excellence Tryg|©
Slide 2: New CEO and Executive Board united in leading Tryg towards '27
In 2023, Tryg welcomed a new CEO and Executive Board; the management team balances experience and competence, united in leading Tryg towards ‘27 c Executive Board (EB) Q Group CFO Group CCO Group CEO Group CTO Group COO Allan Kragh Thaysen Alexandra B. Winther Johan K. Brammer Mikael Karrsten Lars B
Slide 3: Note on the word 'tryg'
Note: The word ‘trye’ in danish means ‘to feel safe, protected, cared for
Slide 4: 2027 financial targets are the most ambitious in Tryg's history
Tryg|© 2027 financial targets are the most ambitious in Tryg’s history % Strengthen market leading profitability Generate resilient growth in insurance service result Deliver best in class return on own funds Keep strong shareholders’ remuneration focus intact ~81% combined ratio As always, assuming
Slide 5: Launch of DKK 2bn extraordinary share buyback
Launch of DKK 2bn extraordinary share buyback, enabled by de-risking of investment portfolio Expected solvency development, % fem? | 23) ; 2020 ia ~195 Q3 Free DKK2bn Other? Q4 a 2024 portfolio buyback’ 2024E de-risking 1) Extraordinary buyback approved by FSA and launched according to the Safe Harb
Slide 6: Agenda
Agenda C1) Follow-up on CMD targets for 2024 2 ] Summary of 2027 strategy 3] Strategic pillars for 2027 Scale & Simplicity Technical Excellence Customer & Commercial Excellence © sustainability & ESG rs ] Financial & capital management C6 Concluding remarks
Slide 7: Tryg has a long history of delivering on targets
ollow-up on CMD targets fo Tryg has a long history of delivering on targets Tryg has delivered its financial targets in every strategy period for +10 years Strategy Financial targets period delivered 2014 to g 2017 2018 to go 2020 Financial Key Performance Targets Projected Indicators 2024 2024 Comb
Slide 8: Tryg has delivered strong results despite significant macro headwinds
Tryg has delivered strong results despite significant macro headwinds Macroeconomic factors Geopolitical uncertainty Inflation, 12-month change in tax-adjusted consumer price index!, % Post-covid frequency normalisation 1 ae a 10 __oK ~ HE?) ie: Fj feos! fs 5 ~— SE TZ | Ife iN NO 0 2020 2021 2022 20
Slide 9: Successful delivery on the acquisition of RSA Scandinavia
ollow-up on CMD targets for 2024 Tryg|© Tryg has successfully delivered on the acquisition of RSA Scandinavia and gained significant size Tryg has delivered on targeted RSA Scandinavia synergies RSA Scandinavia synergy benefits, DKK m Tryg has significantly scaled-up due to two large acquisitions In
Slide 10: Retail share increased to ~93% of insurance revenue
Tryg has strategically increased its retail share to ~93% of insurance revenue, reducing risk and volatility Retail (private and commercial customers) share of group insurance revenue, % Hl Total retail i Private fl Commercial <> ~91% ~85% ~78% 2015-2018! 2021 2023 2024E Total insurance revenue (DKK
Slide 11: Tryg remains focused on attractive shareholder returns
Tryg remains focused on producing attractive shareholder returns Dividend per share, DKK Hl Ordinary dividend Extraordinary dividend/share buybacks Rights issued to complete RSA DKK 2bn Scandinavia acquisition in 20211 announced today? Tryg has a strong track-record of attractive shareholder returns
Slide 12: Agenda
Agenda C1) Follow-up on CMD targets for 2024 2 ] Summary of 2027 strategy 3] Strategic pillars for 2027 Scale & Simplicity Technical Excellence Customer & Commercial Excellence © sustainability & ESG rs ] Financial & capital management C6 Concluding remarks
Slide 13: Summary of 2027 strategy: leading Scandinavian insurer
of 2027 strategy Summary Tryg is a leading insurance company in Scandinavia with 300 years of insurance experience Tryg has over 5 million customers across Scandinavia, with leading positions in all three markets >5 million customers ri ‘Ww Denmark Market share (Q3 2024) 24% Insurance revenue DKK 17
Slide 14: Scandinavia is a highly attractive insurance region
Summary of 202 Scandinavia is a highly attractive insurance region Business environment Productivity Expense ratio Combined ratio Trustin Ease of doing GDP per capita, 2023, USD k3 2-year average ('22-'23), %4 2-year average ('22-'23), %4 government? business index? Tryg 13.5 <a> Tryg 83 <a> - a? ‘-
Slide 15: Well-diversified business and leading Scandinavian private lines insurer
Tryg runs a well-diversified .. While being the leading business ... Scandinavian insurer in private lines P&C insurance revenue by geography, P&C insurance revenue by segment3, 2023, % in Scandinavia 2023, % of Group revenue 1 100% [sao == GROUP 64% p) 96% Gjensidige DK SE NO (ij Other Private line
Slide 16: 2027 targets: highest insurance service result and strongest combined ratio
In 2027, Tryg targets the highest insurance service result and strongest combined ratio ever Financial KPIs Strategic KPIs 20 WN ® 2 Strengthen market leading profitability Generate resilient growth in insurance service results Deliver best in class return on own funds Keep strong shareholders’ remu
Slide 17: Three strategic pillars towards 2027
ummary of 2027 strategy . . a Tryg|© Strategic focus towards 2027 is anchored around three strategic pillars Scale & Technical Customer & Simplicity Excellence Commercial Excellence Leverage increased size to Scale world-class portfolio Scale proven commercial combine IT systems, simplify management
Slide 18: Initiatives build up to DKK 8.0-8.4bn insurance service result
Summary of 2027 strategy Initiatives in strategic pillars build up to insurance service result of DKK 8.0-8.4bn in 2027 Breakdown of 2027 insurance service result target, DKK bn Scale & Simplicity Technical Excellence DKK 300m DKK 500m Customer & Commercial Excellence DKK 200m Trys|© DKK 8.0-8.4bn 2
Slide 19: Methodology for building 2027 ISR target
Summary of 2027 strateey Methodology for building 2027 ISR target: Examples show gross impact per initiative, and pillars sum up to expected net effect of all planned initiatives Strategic pillars show expected net impact and build up to Strategic initiatives show expected gross impact expected net
Slide 20: Agenda
Agenda C1) Follow-up on CMD targets for 2024 2 ] Summary of 2027 strategy 3] Strategic pillars for 2027 Scale & Simplicity Technical Excellence Customer & Commercial Excellence © sustainability & ESG rs ] Financial & capital management C6 Concluding remarks
Slide 21: Scale is essential to win in insurance
Scale is essential to win in insurance technologies IT Purchasing and Al New infrastructure Power
Slide 22: Tryg has significant scale after years of growth
& Simplicity Tryg has significant scale after years of growth .. and complexity is a by-product of the Tryg has doubled its size over the last 8 years... successful growth journey Insurance revenue, Tryg Group, DKK bn TRYGG()HANSA SRN >1,000IT applications >2x insurance revenue since 2016 4 ~39 37 3
Slide 23: Strategy deep dives: Scale & Simplicity
23 Strategy deep dives: Scale & Simplicity tanlt . Tryg|©® Capitalise on scale advantage in Tryg’s core Simplify IT Scale world-class Automate back-end foundation claims handling operations DKK 500m ISRin 2027
Slide 24: Capitalise on scale advantage in Tryg's core
24 Strategy deep dives: Scale & Simplicity Capitalise on scale advantage in Trye’s core Non-exhaustive examples Decommission IT applications handling with new tools and systems Further automate and optimise claims =) i Clean-up product variations { i? Y Consolidate and renegotiate IT vendor landscap
Slide 25: Streamline IT applications to future-proof business and save costs
25 Strategy deep dives: Scale & Simplicity Streamline IT applications to future-proof business and save costs IT costs have risen with the acquisition Decommissioning of overlapping IT of RSA Scandinavia applications is key to scale benefits IT costs Key benefits 53%) & Reduce IT run costs 2 . & © A
Slide 26: Consolidate IT vendor landscape to improve cost and quality
26 ves: Scale & Simplicity Consolidate IT vendor landscape to improve cost and quality Long tail of IT vendors has optimisation potential A ~60 vendors account for 80% of spend Vendor spend ~ 150 vendors account for of spend vendors account for of spend Focus on fewer key strategic vendors to reduce
Slide 27: Streamline IT development organisation
Strategy deep dives: Scale & Simplicity Streamline IT development organisation to drive productivity and scale Current IT development organisations are built for local priorities 3 Individual decentral IT organisations Future organisation is built for scale benefits Streamlined IT organisation Illus
Slide 28: Capitalise on scale advantage in Tryg's core
28 Strategy deep dives: Scale & Simplicity Capitalise on scale advantage in Tryg’s core Non-exhaustive examples > y ha Further automate and optimise claims } 7 fe] handling with new tools and systems CleaiRUp LOM GaN en Eis Consolidate and renegotiate IT vendor Utilise chatbots to assist employees l
Slide 29: Advance world-class claims handling and scale to Sweden
29 Strategy deep dives: Scale & Simplicity Advance Tryg’s world-class claims handling to the next level and scale to Sweden Strong development in levels of automation and handling speed Significant efficiency gains and increase in customer satisfaction Claims reported online, % da > Claims process s
Slide 30: Reduce claims spend via repair rates and supplier consolidation
30 ves: Scale & Simplicity Reduce claims spend by increasing repair rates and supplier consolidation Increase repair rate Consolidate spend with Scandinavian to improve cost efficiency suppliers for better prices g ~45% lower price levels on motor 5-1 5% savings potential by partnering 3 repairs ver
Slide 31: Prevent even more fraud using AI
31 ves: Scale & Simplicity Prevent even more fraud using Al Tryg has a history of reducing fraud Annual fraud avoided, DKK m 2017 2021 2024E Increase fraud detection by utilising advanced analytics and Al models & ‘Lima’ scans incoming claims flagging potential fraud ~600k mw 225K a ay Claims Sent t
Slide 32: Capitalise on scale advantage in Tryg's core
32 Strategy deep dives: Scale & Simplicity Capitalise on scale advantage in Tryg’s core Non-exhaustive examples ’ wr ¥ back-end © Further automate and optimise claims ___ handling with new tools and systems Decommission IT applications Clean-up product variations Consolidate and renegotiate IT vendo
Slide 33: Product simplification potential
trategy deep dives: Scale & Simplicity Long tail of products suggest clear Significant benefits come from reducing potential in product simplification product variations of total revenue comes from 15% of products Faster product and pricing updates Successful product simplification in Lower IT run c
Slide 34: Chatbots and automation in back-office
Strategy deep dives: Sca Simplicity Chatbots assist employees during customer interactions & fa] & 4 9 27 back- 7 back office FTEs office FTEs chats per year fewer support calls per employee 2019 Rosa Chats 2024 reduction in support staff Automation replaces external back-office support — 2 < g Gs 4
Slide 35: Capitalise on scale advantage in Tryg's core: summary
Strategy deep dives: Scale & Simplicity Capitalise on scale advantage in Tryg’s core Simplify IT foundation Decommission IT applications Consolidate and renegotiate IT vendor landscape Streamline IT development organisation Scale world-class claims handling Further automate and optimise claims handl
Slide 36: Agenda
Agenda C1) Follow-up on CMD targets for 2024 2 ] Summary of 2027 strategy 3] Strategic pillars for 2027 Scale & Simplicity Technical Excellence Customer & Commercial Excellence © sustainability & ESG rs ] Financial & capital management C6 Concluding remarks
Slide 37: Technical excellence is the backbone of Tryg
Slide 38: Consistent high-margin profitability requires technical excellence
Consistent high-margin profitability requires focus on technical excellence Continuous improvement of Tryg’s combined ratio Tryg combined ratio (ex. run-off)', % 92 90 89 89 86 86 ~ 585 ~ ~ i ~e. TRYGG (HANSA —™ ~ 783 CODAN ad 2018 2019 2020 2021 2022? 2023 2024E 2027 target ) IFRS 4 Combined Ratio
Slide 39: Drive technical excellence with targeted efforts and data accuracy
39 Strategy deep dives: Technical Excellence Drive technical excellence with targeted efforts and data accuracy Improve portfolio Enhance advanced Optimise individual management pricing underwriting process ISRin 2027 DKK 300m
Slide 40: Drive technical excellence with targeted efforts and data accuracy
Strategy deep dives: Technical Excellence Non-exhaustive examples Drive technical excellence with targeted efforts and data accuracy oN ry cetedorcmeam U4 | Enhance sophisticated pricing with Continue focusing on " greater frequency and precision Hh exposure quality ‘i Utilise new advanced data in p
Slide 41: Manage underperforming sub-portfolios with structural portfolio management
Manage profitability and volatility in underperforming sub-portfolios with structural portfolio management Sweden's world-class portfolio management will be scaled to Denmark and Norway Portfolio profitability, size’ and growth rate? by product and country, 2023 Growth rate (Low to High)? @SE @ DK N
Slide 42: Norwegian property portfolio proves structural portfolio management
chnical Excellence A Norwegian property portfolio proves how structural portfolio management increase profitability and growth Four levers driving improvement of Norwegian property portfolio Strong impact on growth and COR in the Norwegian property portfolio despite macro headwinds li. | Stronger ad
Slide 43: World-class technical excellence from Sweden scaled to Denmark & Norway
chnical Excellence World-class technical excellence from Sweden scaled to Denmark & Norway Sweden has a proven toolbox for optimising portfolios ee Clearroles and mandates to sm ensure one source of truth a-s Proven process from data to @® forwardlookingactions G Sophisticated targeting of customer
Slide 44: Drive technical excellence with targeted efforts and data accuracy
44 Strategy deep dives: Technical Excellence Drive technical excellence with targeted efforts and data accuracy | Scale Swedish best practices to improve underperforming sub-portfolios Enhance sophisticated pricing with greater frequency and precision fi vi Non-exhaustive examples Continue focusing
Slide 45: Pricing sophistication improved by implemented actions
Pricing sophistication improved After implementing unified platform where by implemented actions applicable, utilisation of Al begins Current implementation level of the new platform Private Lines Commercial Lines Unified platform enables scaling ~100% ~50% Later reduced time to market from 2020 to
Slide 46: New advanced data sources improve pricing and differentiation
Strategy deep dives: Technical Excellence Using new advanced data sources improves pricing and price differentiation Using Tryg’s Topographical Wetness Index in Private Integrating historical claims with external data enhances data quality Lines NO pricing exemplifies the benefits of external data a
Slide 47: Drive technical excellence with targeted efforts and data accuracy
47 Strategy deep dives: Technical Excellence Drive technical excellence with targeted efforts and data accuracy Scale Swedish best practices to improve Enhance sophisticated pricing with underperforming sub-portfolios 4 greater frequency and precision Non-exhaustive examples Continue focusing on exp
Slide 48: Improve individual underwriting with new platform
Technical Excellence Improve individual underwriting process with new platform, setting foundation for advanced underwriting New UW platform enables strong optimisation of individual underwriting Share of commercial portfolio underwritten individually Tariff-based [ll Individual underwriting | Six s
Slide 49: Drive technical excellence with targeted efforts and data accuracy
Strategy deep dives: Scale & Simplicity Drive technical excellence with targeted efforts and data accuracy Non-exhaustive examples Improve portfolio Enhance advanced Optimise individual management pricing underwriting process Scale Swedish best practices to improve Enhance sophisticated pricing with
Slide 50: Agenda
Agenda C1) Follow-up on CMD targets for 2024 2 ] Summary of 2027 strategy 3] Strategic pillars for 2027 Scale & Simplicity Technical Excellence Customer & Commercial Excellence © sustainability & ESG rs ] Financial & capital management C6 Concluding remarks
Slide 51: Customer and commercial excellence fuels long-term growth
Strategy deep dives: Customer'& Commeteiabexcellencé Customer and commercial excellence fuels long- term growth Strong brand Local strongholds eStore | positions to scale
Slide 52: Commercial excellence is a key competitive advantage
Strategy deep dives: Customer & Commercial Excellence Commercial excellence is a key competitive advantage for Tryg Strong commercial fundamentals Leading positions on multiple fronts >96% Brand awareness in a all markets Customer aoe Personal Accident i ~§8 satisfactionin ~~G 2% vatehichiens Privat
Slide 53: Revenue synergies from Trygg-Hansa acquisition
Strategy deep dives: Customer & Commercial Excellence Revenue synergies from Trygg-Hansa acquisition drive our commercial strategy Strategic rationale EY Complementary strengths in DK & NO vs. SE al Harvest revenue synergies by scaling & High credibility of initiatives and delivery ] certainty Scale
Slide 54: Boost customer and commercial excellence
54 Strategy deep dives: Customer & Commercial Excellence Boost customer and commercial excellence Scale from SE to DK & NO 1 vw DKK 200m ISRin 2027 Scale from DK & NO to SE
Slide 55: Boost customer and commercial excellence
55 Strategy deep dives: Customer & Commercial Excellence Boost customer and commercial excellence Improve online offering to strengthen position in small commercial customers 7 SE) PN 7 Non-exhaustive examples Focus on strategic partnerships Increase customer satisfaction to drive further cross-sale
Slide 56: Trygg-Hansa is world-class within Personal Accident
56 Strategy deep dives: Customer & Commercial Excellence Trygg-Hansa is worldclass within Personal Accident (PA) Large and profitable PA segment Market shares’, Private Lines SE, ‘23 ~42% = | Total PA Insurance revenue split, Private Lines SE, ‘23 ~62% ~38% ) Non-PA PA COR, Private Lines SE, ’20-’23
Slide 57: Scale Personal Accident success to Denmark and Norway
57 Strategy deep dives: Customer & Commercial Excellence Scale Trygg-Hansa’s PA success to Denmark and Norway Introduce pregnancy products So Launched pregnancy insurance in 2023/2024 f cust: t 50% a comers new to Strengthen existing offerings + Revamped child insurance 50 % increase in sales vs. ©
Slide 58: Strengthen small commercial position by growing online channel
58 Customer & Commercial Excellence Strengthen position in small commercial customers further by growing online channel Attractive and digital segment Small commercial ~ : a 2 m customers! in Scandinavia COR, Commercial Lines, avg. ‘21-’23 Others Small SE paving the way in online distribution Online
Slide 59: Boost customer and commercial excellence
59 Strategy deep dives: Customer & Commercial Excellence Boost customer and commercial excellence Improve online offering to strengthen position in small commercial customers Non-exhaustive examples
Slide 60: Scale motor insights from DK and NO to SE
s: Customer & Commercial Excellence Potential to scale motor insights from DK and NO to SE growth Private Lines market share’, ‘23 Ranking in Swedish Motor Total Consumers’ Insurance Bureau? 28% 26% Sales increase post ranking vs. target Catering to customer preferences is key in unlocking rN 15% Ww
Slide 61: Increase focus on strategic partnerships
Partnerships drive customer more products per customer 76% lower customer acquisition costs 10pp higher customer retention rates s: Customer & Commercial Excellence Increase focus on strategic partnerships Relative to non-partner customers, partner customers have... Learnings from strong partnership
Slide 62: Satisfied customers are more profitable
trategy deep dives: Customer & Commercial Excellenc Satisfied customers are more profitable Structured approach to improving CSAT Premium growth 18 months later, % CSAT impact of selected initiatives from improved onboarding 2008) + + 6p communications a from proactively offering +5 P insurance revi
Slide 63: Boost customer and commercial excellence
Strategy deep dives: Customer & Commercial Excellence Boost customer and commercial excellence Scale from SE to DK & NO oe Grow Personal Accident portfolio via pregnancy product Improve online offering to strengthen position in small commercial customers Tt —<— DKK 200m ISRin 2027 Non-exhaustive exa
Slide 64: Agenda
Agenda C1) Follow-up on CMD targets for 2024 2 ] Summary of 2027 strategy 3] Strategic pillars for 2027 Scale & Simplicity Technical Excellence Customer & Commercial Excellence @ sustainability & ESG rs ] Financial & capital management C6 Concluding remarks
Slide 65: Sustainability and ESG are part of Tryg
| A Sustainability and ESG are part of LS ee | ~~
Slide 66: Tryg embraces its vital role in society
66 Sustainability & ESG Tryg embraces its vital role in society, working with communities to make it easier to be ‘tryg’ 11pp Dividends > | DKK 1,000m member bonus in 2024 Higher expected retention for customers aware of bonus Owning 47,7% of Tryg shares TryghedsGruppen t TrygFonden / Part of profit
Slide 67: Sustainability is anchored in Tryg's core business
67 Sustainability & ESG Sustainability is anchored in Tryg’s core business Sustainability and ESG are integrated parts of Trys’s business model Risk advisory Prevention Climate-friendly claims handling Engaged and motivated employees 300 years of expertise in coverage and risk 23% ofall product cate
Slide 68: Tryg is driving sustainable change from within core business
Sustainability & ESG Tryg is driving sustainable change from within core business Climate action Future-fit products People at Tryg e Ss y Reduce Trye’s carbon footprint Leverage climate adaptation and Empower people at Tryg across the value chain prevention to future-proof the business to drive bus
Slide 69: Tryg continues to drive the green transition
Sustainability & ESG . . Tr © Tryg continues to drive the green transition across the value chain @- limate action 2027 ambition Strategic KPI } 6% Average CO2e reduction perclaim SISHSSSSSISSSSSSS SSIS SSS SSSI SASS SSSSSSSSE The target has changed from an absolute target Tryg will join the SBTi or
Slide 70: Future-fitting Tryg's business through climate adaptation and prevention
Future-fitting Tryg’s business through climate adaptation and prevention [al Future-fit products Tryg future-proofs the business with a core focus on climate adaptation and prevention 2027 ambition q In achanging world, enhanced pricing sophistication re) Climate projected pricin & ae suet improves
Slide 71: People at Tryg are key to strong business performance
Sustainability People at Tryg are key to driving strong business performance Key factors reflecting solid foundation 77 72% employee engagement score (2024) of top 100 leaders promoted from internal talent pipeline (2024) 42 points higher than industry benchmark of 75 4 39pp increase since 2019 43%
Slide 72: Agenda
Agenda C1) Follow-up on CMD targets for 2024 2 ] Summary of 2027 strategy 3] Strategic pillars for 2027 Scale & Simplicity Technical Excellence Customer & Commercial Excellence © sustainability & ESG rs ] Financial & capital management C6 Concluding remarks
Slide 73: Financial section will highlight four key areas
73 Financial section will highlight four key areas BME ee, Core Insurance Return on Investment Shareholder Earnings Capital Activities Remuneration
Slide 74: Combined ratio and insurance service result development
Alka RSA Scandinavia 2018 2021 : . 63 aa 72-16 ISR 2.4 25 cor 86.8% 84.4% 84.3% 83.2% 82.8% <82% 93.5% 89.8% | L COR [| 1 89.4% | 96.0% 85.8% <85% ~83% ex. | | |_| — cae! run-off 20151 20171 2020 20222 2023 2024E 2027 target? Rr «CTH | 8A) SAG) 30%) 30% | 30%) 2% | 1) IFRS 4; 2) Proforma Tryge Hansa
Slide 75: Expect DKK ~300m CAPEX impact from strategic initiatives
75 Expect DKK ~300m CAPEX impact from strategic initiatives Scale & Simplicity Leverage increased size to combine IT systems, simplify processes and deliver ‘economies of scale DKK 500m Technical Excellence Scale world-class portfolio ‘management and advance pricing and underwriting with new data an
Slide 76: Financial section will highlight four key areas
76 Financial section will highlight four key areas eM EM ee, Core Insurance Return on Investment Shareholder Earnings Capital Activities Remuneration
Slide 77: ROOF is a fundamental part of Tryg's Capital Management
ROOF is a fundamental part of Tryg’s Capital Management Tryg’s capital management revolves around optimising shareholder remuneration Insurance Revenue Earnings Dividends Margin —_ ‘ —— Capital Consumption ~() Solvency regulation \ ) \ ) Y Y Divided by Profit after tax / Own Funds ROOF (Return on Ow
Slide 78: ROOF has continuously improved: 2027 target of 35-40%
ROOF has continuously improved: ambitious 2027 target of 35-40% ROOF development A B 2021-2024 ROOF improvements st 35-40% 2024 vs. 2021 development primarily — driven by ongoing optimisation and A increased earnings and synergies ~30% following the RSA Scandinavia acquisition 2024-2027 ROOF improve
Slide 79: 2027 ROOF target confirms Tryg among most profitable insurers
2027 ROOF target confirms Tryg among the most profitable insurers worldwide ROOF Comparison, Nordic Insurance Companies’ 2027 TARGET 35-40% 2023 25% convinced that havinga strong Scandinavian retail footprint, with a unique and stable earnings Gjensidige¢ 2023 diversification, reduces capital requir
Slide 80: Financial section will highlight four key areas
80 Financial section will highlight four key areas eM eM ee, Core Insurance Return on Investment Shareholder Earnings Capital Activities Remuneration
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1 2 3
Slide 82: Free Portfolio is de-risked to reduce volatility and improve ROOF
Slide 83: De-risking improves ROOF with neutral EPS impact
Slide 84: Free portfolio is de-risked to enhance stability of earnings
Slide 85: Tryg has a strong and hedged balance sheet
Slide 86: Solvency Ratio continues to display low sensitivity to market risk
Slide 87: Financial section will highlight four key areas
Slide 88: Total shareholder remuneration of DKK 17-18bn between 2025 and 2027
Slide 89: Agenda
Slide 90: Tryg's vision to strengthen retail position
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Slide 92: Why Tryg is a special one
Slide 93: Thank you
Slide 94: Disclaimer