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Tryg’s Supervisory Board has today approved the interim report for Q1-Q3 2019.

Premium growth of 20.0%, or 6.8% excluding Alka (4.7% in Q3 2018). Technical result of DKK 870m (DKK 761m), up 14% compared to Q3 2018, positively impacted by Alka synergies and lower level of large claims and negatively impacted by higher level of weather claims. Investment income of DKK -29m (DKK 79m) driven by a loss on the match portfolio. Profit before tax of DKK 779m (DKK 825m). Quarterly dividend of DKK 1.70 per share, supporting TryghedsGruppen’s member bonus. Solvency ratio of 169.

Financial highlights Q3 2019

• Premium growth of 20.0% or 6.8% (4.7%) excluding Alka in local currencies
• Technical result of DKK 870m (DKK 761m) driven by a combined ratio of 84.4 (83.8)
• Underlying claims ratio (Private and Group) improved by 0.7 and 0.6 percentage points
• Expense ratio of 13.9 (13.9)
• Return on free investments portfolio of DKK 97m (DKK 101m)
• Total investment return of DKK -29m (DKK 79m)
• Profit before tax of DKK 779m (DKK 825m)
• Q3 dividend of DKK 1.70 per share and solvency ratio of 169

Financial highlights Q1-Q3 2019

• Premium growth of 19.6% or 6.3% (3.9%) excluding Alka in local currencies
• Technical result of DKK 2,475m (DKK 2,170m) driven by a combined ratio of 84.8 (84.1)
• Expense ratio of 14.0 (14.0)
• Return on free investments portfolio of DKK 631m (DKK 165m)
• Total investment return of DKK 381m (DKK -2m)
• Profit before tax of DKK 2,688m (DKK 2,113m)
• Q1-Q3 dividend of DKK 5.10 per share (DKK 1.70 paid in April, DKK 1.70 paid in July and DKK 1.70 to be paid on 15 October)

Customer highlights Q3 2019

• TNPS of 67 (66)
• Number of products per customer 3.8 (3.7)
• For the fourth year running, TryghedsGruppen paid out a bonus of 8% to its members
• In Q3, awareness of TryghedsGruppen’s member bonus for non-customers increased to 29%, an increase of 38% compared with same period prior year

Statement by Group CEO Morten Hübbe:

We deliver a satisfying technical result, which is 14% higher than last year, primarily driven by the inclusion of Alka and a positive development in our core business. Interest rates have been falling further in the last few months meaning that Tryg will have to focus even more on its core insurance business to produce strong financial results.

We continue to see solid organic growth for the Group of 6.8% excluding Alka (including Alka 20.0%) primarily driven by the Private segment. Customer satisfaction is at the highest level and customers renewal of their insurances is record high. Every fourth Dane, or 1.3 million Alka and Tryg customers, have been paid a bonus by TryghedsGruppen equaling to 8% of premiums paid in 2018. Awareness of the bonus has increased especially for non-customers and is 38% higher compared to the same period prior year.

As part of Tryg’s strategic focus on claims prevention we have launched our 10th initiative with the aim of increasing safety in traffic and avoiding accidents. We have therefore launched a so-called mobile-blocker for car drivers, that prevents the driver from mobile web usage and texting while driving.

Conference call

Tryg hosts a conference call today at 10:00 CET. CEO Morten Hübbe and CFO Barbara Plucnar Jensen will present the results in brief 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.

All Q3 material can be downloaded on tryg.com/en/downloads-2019 shortly after the time of release.

Conference call details:

Danish participants:      +45 35 44 55 83

UK participants:            +44 (0) 203 194 0544

US participants:            +1 855 269 2604