2007 in review

February

TrygVesta’s Finnish operation started selling commercial insurance to small businesses. TrygVesta reported profit before tax of DKK 3.7bn for the full year 2006 compared with the forecast of DKK 3.2bn announced in the third-quarter interim report.

TrygVesta introduced a new children’s insurance in Norway covering all children, including those who have a disability or suffer from a serious illness.

March

TrygVesta began offering stress consultancy to employees working in Denmark. StressStop is a stress prevention scheme incorporated in the general health insurance. At the head office in Ballerup, TrygVesta opened an innovation centre – a creative space with room to create and stimulate the development of ideas.

TrygVesta held its second annual general meeting as a listed company. Christian Brinch was elected as a new member of the Supervisory Board.

April

TrygVesta introduced LEAN to offer enhanced quality to customers, improve employee satisfaction and make work processes better and more efficient.
 

May

TrygVesta’s first-quarter pre-tax profit was DKK 683m compared with DKK 700m in the first quarter of 2006.

Credit rating agency Moody’s upgraded TrygVesta to A2 from A3.

TrygVesta launched a lower-priced motor insurance for young women below 29 years in Denmark.
 

June

TrygVesta organised its first capital markets day at the Ballerup head office, attended by 36 investors and analysts. At the same time, TrygVesta upgraded its premium growth forecast from 3.0% to 3.3% and supplemented the profit distribution policy with share buybacks.

Vesta Forsikring in Norway became a branch of Tryg Forsikring. At the same time Tryg Forsikring changed its name to TrygVesta Forsikring. The Norwegian branch also changed its name to TrygVesta, the future brand in Norway.
 

August

TrygVesta’s first-half pre-tax profit was DKK 1,745m, an improvement of DKK 394m compared with the first-half of 2006.
 

September

Credit rating agency Standard & Poor’s affirmed TrygVesta’s rating of A-.

TrygVesta won a major arbitration case against a number of reinsurers. The favourable outcome had a positive impact of DKK 41m on the third-quarter financial statements.

TrygVesta launched a large-scale training programme for sales and customer service staff under the heading “Your role as a peace-of-mind provider”. The programme will run from September 2007 to May 2008.
 

October

TrygVesta entered into a Nordic collaboration with two firms of architects to be in charge of upgrading the offices in Ballerup and Bergen. The collaboration is intended to create a lasting workplace layout and an even more value-based corporate culture.

TrygVesta implemented two web-based peaceofmind initiatives focusing on prevention and advice. The websites tryghedsraadgiveren.dk and trygghetsraadgiveren.no offer advice to everybody on how to prevent damage and injuries at home, while tryghedsbutik.dk and trygghetsbutikk.no offer products that improve safety at home and in the traffic.

Vesta Skadeförsäkring in Sweden reached a milestone with 100,000 insurances sold.

TrygVesta introduced a new annual travel insurance in Denmark. Coverage under the Danish public travel and health insurance will be curtailed effective 1 January 2008, and TrygVesta’s new annual travel insurance will provide coverage for the areas subject to future restrictions.
 

November

TrygVesta extended the successful health insurance in Denmark to the Norwegian market, introducing the sale of treatment insurance.

Dansk Kaution changed its name to TrygVesta Garantiforsikring A/S. The new name makes the affiliation with TrygVesta clear and is connected with the Group’s new Nordic strategy.

TrygVesta’s third-quarter pre-tax profit was DKK 726m compared with DKK 1,110m in the third quarter of 2006.

Peter Falkenham, member of the Group Executive Management in charge of Private & Commercial Denmark, was appointed Chief Operating Officer (COO).