March 27, 2020 / 6:52 AM / 13 days ago

Insurer Tryg defers dividend decision, confirms 2020 technical result

COPENHAGEN, March 27 (Reuters) - Danish insurer Tryg on Friday confirmed its full-year forecast of a 3.3 billion Danish crowns ($488.27 million) technical result, but postponed its decision on dividends for 2020.

“Based on the current extraordinary situation we believe it is in best interest of all our stakeholders to be prudent until the macroeconomic picture has stabilized,” board chair Jukka Pertola said in a statement.

Tryg also said it would suspend its full-year forecast of return on equity (ROE) at 21 or above, following “extremely negative capital markets developments in Q1 to date and continued uncertain capital markets outlook”. ($1 = 6.7585 Danish crowns) (Reporting by Nikolaj Skydsgaard Editing by Shri Navaratnam)

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