TrygVesta - Higher premium growth in 2007, revised return policy and Capital
Markets Day
Higher premium growth in 2007
TrygVesta increases the premium growth in 2007 to 3.3% in local
currency from previously 3.0%. A change to Danish workers
compensation legislation and subsequent price increases from July 1,
2007 is the reason for the higher premium growth. Apart from higher
premium growth the Outlook for 2007 is reaffirmed a.o. the combined
ratio is expected at 89 and pre-tax profit is expected at DKK 2.7bn.
The medium term expectation is also reaffirmed i.e. a combined ratio
of 90-92 and a return on equity after tax of 19-21%.
Stock buy back to be part of the dividend policy
TrygVesta revises the dividend policy and going forward the cash
payout ratio will be 50% of the annual result after tax plus stock
buy backs for additional surplus capital. Previously the annual
distribution to shareholders was cash dividend only. The revised
dividend policy becomes effective with the cash distribution for
fiscal 2007. In the presentation material for the Capital Markets Day
the revised dividend policy is explained in greater detail.
Capital Markets Day
TrygVesta's Capital Markets Day (CMD) is held in Ballerup, Denmark
today. The purpose of the CMD is to furnish institutional investors
and analysts TrygVesta's performance, market environment, strategy,
overall actions plans and financial targets."TrygVesta wants to be perceived as
the leading "peace of mind"
provider in the Nordic region and going forward we see new
opportunities in the "peace of mind" concept. This is our first
Capital Markets Day and a good occasion to update analysts and
institutional investors on our performance, opportunities and
challenges" says Stine Bosse, CEO.
Presentations used at today's CMD are available at www.trygvesta.com
/ investor relations in the morning. In the afternoon, a webcast
recording of the CMD will be available the same place.
For further information visit www.trygvesta.com or contact;
Investor Relations Director
Ole Søeberg. Phone +45 44 20 45 20 and e-mail ole.soeberg@tryg.dk
Investor Relations Manager
Lars Møller. Phone +45 44 20 45 17 and e-mail lars.moeller@tryg.dk
Financial calendar 2007
Q2 2007 - 16 August 2007
Q3 2007 - 23 November 2007
TrygVesta comprises Tryg, Denmark's largest general insurer, and
TrygVesta, Norway's third largest general insurer. The Group has
carried out insurance operations in Finland since 2002 and in Sweden
since 2006 and is the second-largest general insurance group in the
Nordic region. TrygVesta has some 3,800 employees.
Our insurance products provide peace of mind every day to more than 2
million private customers and more than 100,000 businesses in the
Nordic region. The great majority of our products are distributed
through our own strong distribution channels.
We also have a strong strategic partnership with Nordea, one of the
largest financial services provider in the Nordic region. Nordea
sells our insurances through their branches throughout the Nordic
region, and we sell Nordea's life insurance and pension products.
