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Danish insurer Tryg Q3 pretax profit beats forecast
October 11, 2016 / 7:11 AM / a year ago

Danish insurer Tryg Q3 pretax profit beats forecast

COPENHAGEN, Oct 11 (Reuters) - Danish insurance company Tryg posted third-quarter profit before tax of 923 million Danish crowns ($139 million) on Tuesday, beating analysts’ average forecast of 797 million crowns in a Reuters poll.

Chief Executive Michael Hübbe made following comments to Reuters:

** “In this quarter we have focused on investments and new initiatives such as children’s insurance and cyber insurance.”

** “Numbers from Sweden show that very few companies actually have the skills to rebuild lost data or track down the criminals after a cyber-attack. In the fourth quarter we will roll out a new initiative that will make it possible for us to help especially business costumers even more.”

** “Our investments have given very satisfying returns this quarter, as world stocks, despite ongoing insecurity, have grown.”

** “However, investments are volatile, which is why we also stay focused on our core business, as market jitteriness has not gone, and can return any minute.”

** “Future growth is expected from both investments and bringing down claim payments by educating and informing our customers better. For instance 68 percent of car accidents are due to using mobile phones, and that numbers can and should be brought down.”

$1 = 6.6427 Danish crowns Reporting by Annabella Pultz Nielsen; Editing by Mark Potter

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