December 09, 2016 10:04 PM ET

Insurance

Company Overview of TrygVesta Forsikring A/S

Company Overview

TrygVesta Forsikring A/S provides general insurance products and services. The company offers general insurance, life, and pension insurance products. It also provides reinsurance, underwriting, provisioning risk, and claims management services. Additionally, the company offers currency, credit, liquidity, operational, and strategic risk management services. The company was formerly known as Tryg Forsikring A/S and changed its name to TrygVesta Forsikring A/S in May 2007. The company was founded in 1971 and is based in Ballerup, Denmark. TrygVesta Forsikring A/S operates as a subsidiary of Tryg A/S.

Klausdalsbrovej 601

Ballerup,  2750

Denmark

Founded in 1971

3,064 Employees

Phone:

45 70 11 20 20

Fax:

45 44 20 66 00

Key Executives for TrygVesta Forsikring A/S

Group Chief Executive Officer and Member of Executive Board
Age: 44
Group Chief Financial Officer and Member of Executive Board
Age: 38
Group Chief Operating Officer, Group Executive Vice President of Private, Country Manager - Denmark and Member of Executive Board
Age: 51
Group Executive Vice President and Country Manager for Sweden
Age: 53
Group Executive Vice President of Corporate
Age: 52
Compensation as of Fiscal Year 2016.

TrygVesta Forsikring A/S Key Developments

Tryg A/S Proposes Amendments to the Articles of Association

Tryg A/S proposed amendments to the articles of association of the company to be considered at the AGM to be held on March 8, 2017.

Tryg Forsikring A/S Announces Unaudited Group and Company Earnings Results for the Half Year of 2016; Provides Earnings Guidance for the Full Year of 2016

Tryg Forsikring A/S announced unaudited group and company earnings results for the half year of 2016. For the period, on group basis, the company reported gross premiums written of DKK 10,360 million against DKK 10,731 million a year ago. Premium income was DKK 8,323 million against DKK 8,559 million a year ago. Profit before tax was DKK 1,536 million against DKK 1,413 million a year ago. Profit on continuing business was DKK 1,211 million against DKK 1,088 million a year ago. Profit for the period was DKK 1,211 million against DKK 1,131 million a year ago. Total cash flow from operating activities was DKK 1,600 million against DKK 1,752 million a year ago. Purchase of operating equipment was DKK 5 million. Acquisition and refurbishment of real property was DKK 14 million against DKK 13 million a year ago. Return on equity after tax was 24.4% against 20.4% a year ago. For the period, on parent basis, the company reported gross premiums written of DKK 10,174 million against DKK 10,571 million a year ago. Premium income was DKK 8,254 million against DKK 8,500 million a year ago. Profit before tax was DKK 1,504 million against DKK 1,373 million a year ago. Profit on continuing business was DKK 1,211 million against DKK 1,088 million a year ago. Profit for the period was DKK 1,211 million against DKK 1,131 million a year ago. Total cash flow from operating activities was DKK 1,600 million against DKK 1,752 million a year ago. Purchase of operating equipment was DKK 5 million. Acquisition and refurbishment of real property was DKK 14 million against DKK 13 million a year ago. For 2016, the group has communicated an expected growth in premium income of between 0% and 2%. This includes the acquisition of Skandia's Child insurance, which is expected to be included in third quarter of 2016 and to have a positive impact of approximately 0.5%. The Norwegian tax rate was 27% in 2015 and will be reduced to 25% in 2016, while the Swedish rate was 22%. All in all, the expected tax payable for an average year to be reduced from around 22%-23% to around 21% in 2016.

Tryg Announces Executive Changes, Effective April 15, 2016

Tryg has appointed Christian Baltzer as new Chief Financial Officer (CFO). After reporting the first quarter of 2016, Tor Magne Lønnum has completed his job as CFO with Tryg, and therefore Christian Baltzer succeeds Tor Magne Lønnum from 15 April 2016 instead of 1 May 2016 as previously announced.

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Recent Private Companies Transactions

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