Today, Tryg has received the final approval of the Alka acquisition from the Danish Competition and Consumer Authority.
In connection with the approval, Tryg has agreed to certain non-structural remedies aiming at increasing transparency in the Danish non-life market. The remedies comprise an annual donation to Forsikringsguiden (a Danish comparison portal), the elimination of certain existing fees related to early cancellation of policies and the removal of exclusivity agreements in certain partner agreements.
The remedies have an approximate cost to Tryg of DKK 20m per annum for five years. Tryg however firmly maintains its guidance for a DKK 300m synergies related to the Alka acquisition with unchanged timing and a full run-rate impact in 2021.
Conference call
Tryg hosts a conference call tomorrow 6 November at 10:15 CET. CEO Morten Hübbe will comment on the approval of the Alka acquisition followed by Q&As.
The conference call will be held in English. An on-demand version will be available shortly after the conference call has ended.
Conference call details
Danish participants +45 35 44 55 83
UK participants +44 (0) 203 194 0544
US participants +1 855 269 2604
A presentation can be downloaded on https://tryg.com/en/downloads-all/presentations
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