65

Business

Storms put a dampener on Tryg’s interims

admin
October 10th, 2014


This article is more than 10 years old.

Results not as bad as feared for insurance company

The insurance giant Tryg has today released its financial report for the third quarter of 2014, revealing a decline since last year that was not as drastic as commentators had feared following the avalanche of claims that followed the cloudburst in August.

READ MORE: Disappointing Tryg profits despite mild winter

The Q3 profit before tax was 782 million kroner, compared to 907 million kroner in the same period last year. This means that the combined result for the first three quarters was 2,534 million kroner, up from 2,354 kroner million kroner last year.

Saved by efficiency program
In a press release accompanying the report, the company emphasised the role played by storm damage claims but highlighted a premium income development and the success of an ongoing efficiency program in mitigating the negative impact on the result.

Morten Hübbe, Tryg’s CEO, emphasised that the negative impact of the storms could have been much greater.

“At a time characterised by challenging weather conditions, I am pleased that the extremely focused claims prevention efforts that we launched after the severe cloudburst in July 2011 have helped reduce the volume of claims after the cloudbursts that hit the region in Q3,” he said.

“This is good news both for our customers and for our shareholders.”

Stock market conditions meant that in Q3 there was a negative return on the company’s investments of one million kroner, compared to a positive return of 152 million kroner in Q3 2013. This contributed in a drop of positive investment return over the first three quarters from 434 million kroner in 2013 to 347 million kroner in 2014.


Share

Most popular

Subscribe to our newsletter

Sign up to receive The Daily Post

















Latest Podcast

A survey carried out by Megafon for TV2 has found that 71 percent of parents have handed over children to daycare in spite of them being sick.

Moreover, 21 percent of those surveyed admitted to medicating their kids with paracetamol, such as Panodil, before sending them to school.

The FOLA parents’ organisation is shocked by the findings.

“I think it is absolutely crazy. It simply cannot be that a child goes to school sick and plays with lots of other children. Then we are faced with the fact that they will infect the whole institution,” said FOLA chair Signe Nielsen.

Pill pushers
At the Børnehuset daycare institution in Silkeborg a meeting was called where parents were implored not to bring their sick children to school.

At Børnehuset there are fears that parents prefer to pack their kids off with a pill without informing teachers.

“We occasionally have children who that they have had a pill for breakfast,” said headteacher Susanne Bødker. “You might think that it is a Panodil more than a vitamin pill, if it is a child who has just been sick, for example.”

Parents sick and tired
Parents, when confronted, often cite pressure at work as a reason for not being able to stay at home with their children.

Many declare that they simply cannot take another day off, as they are afraid of being fired.

Allan Randrup Thomsen, a professor of virology at KU, has heavily criticised the parents’ actions, describing the current situation as a “vicious circle”.

“It promotes the spread of viruses, and it adds momentum to a cycle where parents are pressured by high levels of sick-leave. If they then choose to send the children to daycare while they are still recovering, they keep the epidemic going in daycares, and this in turn puts a greater burden on the parents.”