Tryg shares fall as This fall earnings miss expectations

Investing.com — Tryg A/S (CPH:TRYG), a number one Nordic insurance coverage firm, reported fourth-quarter 2024 outcomes that fell in need of analyst expectations, sending its shares down 5% in early buying and selling.

The insurer’s insurance coverage income grew by 3.6% in native currencies throughout the fourth quarter, lacking consensus estimates by 0.2%. For the total yr 2024, insurance coverage income elevated by 4.1%, barely under expectations. Tryg’s mixed ratio, a key measure of profitability within the insurance coverage business, got here in at 82.5% for This fall, 0.5 proportion factors worse than anticipated.

The corporate’s web revenue for the quarter was 9.7% decrease than anticipated, primarily on account of weaker funding returns which missed consensus by 27.4%. Climate-related claims had been 16.7% above estimates, additional impacting outcomes.

“Whereas we confronted some headwinds within the fourth quarter, our total efficiency for 2024 demonstrates the resilience of our enterprise mannequin,” mentioned Tryg CEO, commenting on the outcomes.

Regardless of the earnings miss, Tryg maintained its annual dividend at DKK 7.8 per share, consistent with analyst expectations. The corporate’s Solvency II ratio, a measure of monetary power, stood at 196%, barely above consensus estimates.

For the total yr 2024, Tryg reported a mixed ratio of 81%, marginally worse than anticipated. The insurer’s insurance coverage service end result for the yr was 0.6% under consensus, whereas funding returns missed expectations by 8.4%.

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