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

Investor webinar replay

Replay transcript excerpt

Good morning, everybody. My name is Gianandrea Roberti. I'm head of financial reporting at TREC. We published our Q1 figure earlier this morning, and I have here with me Johan Brammer, our Group CEO, Allan Theissen, our Group CFO, and Mikael Schersten, our Group CTO, to present the figures. I would like to remind all participants that when we open up for the Q&A, it will be one question at a time to allow everybody to ask questions. And with these words, over to you, Johan. Thanks a lot, Gian, and good morning to everybody on the call from me as well. I'd like to start just by commenting on the revenue growth, which for Q1 is just shy of 4%. It ends up at 3.7%, primarily driven by price adjustments in the private segment in order to offset the continued inflationary pressures. The insurance service result for Q1 is 1.54 billion, which is substantially above last year's level. This is primarily driven by a mild winter resulting in lower claims costs. The combined ratio for the group is 84.2% with good performance in Denmark and Sweden and an improving trend in Norway. The group underlying claims ratio improved by 30 basis points while private improved by 10 basis points. The improvements are underpinned by our profitability initiatives across the board. The overall investment result was satisfactory at 320 million, especially in a fairly volatile period with often contradictory macroeconomic news flows. We're reporting a pre-tax result just below 1.5 billion, 1.491 million to be precise, a return on owned funds of 33.4%, and we pay a dividend per share of 2.05 DKK. The solvency ratio is 1.95 as per end of Q1. With that I move to page 5 on the customer satisfaction and customer satisfaction remains very important for TRYK and we are satisfied to achieve a Q1 level of 8...