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Healthcare

BRIEF-Tryg Q1 Loss Before Tax At DKK 372 Mln

April 21 (Reuters) - Tryg A/S:

* Q1 REPORT 2020

* Q1 TECHNICAL RESULT DKK 672 MILLION (COMPANY CONSENSUS DKK 669 MILLION)

* TRYG HAS BEEN IMPACTED BY COVID-19 OUTBREAK, ESPECIALLY ON INVESTMENT RESULT, BUT ALSO IN OUR TRAVEL INSURANCE DEPARTMENT

* Q1 LOSS BEFORE TAX DKK 372 MILLION (COMPANY CONSENSUS LOSS DKK 352 MILLION)

* TRAVEL INSURANCE CLAIMS RELATED TO COVID-19 COST DKK 255M GROSS (BEFORE REINSURANCE) AND DKK 115M NET (AFTER REINSURANCE)

* WE NOTICE A POSITIVE DEVELOPMENT IN OTHER LINES OF BUSINESS DURING COVID-19 OUTBREAK AS A RESULT OF LOWER ECONOMIC ACTIVITY AND LOCK-DOWN

* Q1 GROSS PREMIUM INCOME DKK 5,595 MILLION (COMPANY CONSENSUS DKK 5,427 MILLION)

* OVERALL, THIS DOES NOT CHANGE FACT THAT COVID-19 AFFECTS TRYG NEGATIVELY IN Q1 AS HIGH TRAVEL INSURANCE CLAIMS HAS BEEN ONLY PARTLY MITIGATED BY LOWER CLAIMS FREQUENCIES REPORTING AN OVERALL NET NEGATIVE IMPACT OF DKK -40M

* Q1 COMBINED RATIO 88% (COMPANY CONSENSUS 87.5%) Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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