Tryg A/S Ord New (TGVSF) Q1 2025 Earnings Call

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WEBVTT 00:00:00.875 -- 00:00:04.723 Good morning, everybody. My name is Gianandrea Roberti. 00:00:04.723 -- 00:00:09.772 I'm head of financial reporting at TREC. We published our Q1 figure earlier 00:00:09.772 -- 00:00:15.042 this morning, and I have here with me Johan Brammer, our Group CEO, Allan Theissen, 00:00:15.042 -- 00:00:20.952 our Group CFO, and Mikael Schersten, our Group CTO, to present the figures. 00:00:20.952 -- 00:00:25.560 I would like to remind all participants that when we open up for the Q&A, it will be 00:00:25.560 -- 00:00:30.249 one question at a time to allow everybody to ask questions. 00:00:30.249 -- 00:00:33.494 And with these words, over to you, Johan. 00:00:33.494 -- 00:00:38.039 Thanks a lot, Gian, and good morning to everybody on the call from me as well. 00:00:38.039 -- 00:00:42.663 I'd like to start just by commenting on the revenue growth, which for Q1 is just shy 00:00:42.663 -- 00:00:48.109 of 4%. It ends up at 3.7%, primarily driven by price adjustments 00:00:48.109 -- 00:00:54.055 in the private segment in order to offset the continued inflationary pressures. 00:00:54.055 -- 00:00:59.620 The insurance service result for Q1 is 1.54 billion, which is substantially 00:00:59.620 -- 00:01:04.753 above last year's level. This is primarily driven by a mild winter resulting in lower 00:01:04.753 -- 00:01:07.073 claims costs. 00:01:07.236 -- 00:01:13.044 The combined ratio for the group is 84.2% with good performance in Denmark and Sweden 00:01:13.044 -- 00:01:16.506 and an improving trend in Norway. 00:01:16.628 -- 00:01:21.195 The group underlying claims ratio improved by 30 basis points while private improved 00:01:21.195 -- 00:01:26.622 by 10 basis points. The improvements are underpinned by our profitability initiatives 00:01:26.622 ...