Financial highlights and key ratios of TrygVesta (5 year overview)

		IFRS				Danish GAAP

DKKm		2007	2006	2005	2004	2004	2003

	Income statement

	Gross premiums earned	16,606	16,021	15,705	15,266	16,308	16,702
	Gross claims incurred	-11,175	-10,564	-11,159	-10,425	-11,020	-11,940
	Total insurance operating expenses	-2,769	-2,697	-2,662	-2,611	-3,462	-3,745
	Profit/loss on gross business	2,662	2,760	1,884	2,230	1,826	1,017

	Profit/loss on ceded business	-343	-591	-7	-708	-814	-1,135

	Technical interest, net of reinsurance	501	343	170	185	537	595
	Change in equalisation provisions	0	0	0	0	-93	-101
	Technical result	2,820	2,512	2,047	1,707	1,456	376
	Return on investment activites after transfer to insurance activities	340	1,228	894	371	517	685
	Other income	121	118	126	121	121	115
	Other expenses	-172	-149	-154	-147	-147	-131
	Profit/loss for the year before tax	3,109	3,709	2,913	2,052	1,947	1,045
	Extraordinary items and minority interests	0	0	0	0	0	1
	Tax	-842	-624	-788	-556	-485	-87
	Profit/loss for the year, continuing business	2,267	3,085	2,125	1,496	1,462	959
	Profit/loss on discontinued and divested business after tax	-1	126	-28	-75	-55	-217
	Profit/loss for the year	2,266	3,211	2,097	1,421	1,407	742


	Run-off gains/losses, net of reinsurance	743	555	283	-71	3	-516
	Relative run-off gains/losses	3.6	3.0	1.8	-0.5	-	-


	Balance sheet

	Total provisions for insurance contracts	26,916	25,957	26,757	25,212	26,599	25,955
	Total of provisions for insurance contracts	1,587	1,561	2,630	3,292	3,132	3,480
	Total shareholders' equity	10,010	9,951	8,215	6,802	6,117	5,360
	Total assets	43,830	42,783	40,811	37,824	33,553	31,337


	Key ratios

	Gross Claims ratio	67.3	65.9	71.1	68.3	67.6	71.5
	Business ceded as a percentage of gross premiums	2.1	3.7	0.1	4.6	5.0	6.8
	Claims ratio, net of ceded business	69.4	69.6	71.2	72.9	72.6	78.3
	Gross Expense ratio	16.7	16.8	17.0	17.1	21.2	22.4
	Combined ratio	86.1	86.4	88.2	90.0	93.8	100.7

	Claims ratio, net	68.1	68.4	69.7	71.2	70.9	76.6
	Expense ratio, net	17.1	17.2	17.6	17.6	22.2	24.3
	Combined ratio, net	85.2	85.6	87.3	88.8	93.1	100.9

	Operating ratio	83.5	84.6	87.1	89.0	90.8	97.2


	Other data

	Return on equity before tax and discontinued and divested business	31	41	39	33	34	22
	Return on equity after tax and discontinued and divested business	23	35	28	23	25	15
	Earnings per share (continuing business)	33.5	45.5	31.3	22.0	21.5	14.1
	Net asset value per share	148	147	121	100	90	79
	Dividend per share	17	33	21	10	10	1
	Share price 31.12	388.0	431.5	319.2	-	-	-
	Quoted price/net asset value	2.6	2.9	2.6	-	-	-
	Price Earnings	11.6	9.5	10.2	-	-	-
	Average number of shares (1,000) 1)	67,648	67,824	68,000	68,000	68,000	68,000
	Number of shares, year end (1,000) 1)	67,638	67,790	68,000	68,000	68,000	68,000
	Solvency	81	58	72	78	79	86


	Number of full-time employees, end of period

	Continuing business	3,814	3,808	3,694	3,728	3,728	3,750
	Discontinued and divested business	0	0	24	34	34	670



	1) Calculated in accordance with 'Recommendations & Financial Ratios 2005' issued by the Danish Society of Financial Analysts except for per shares data, which is based on 68,000,000 shares as if much number of shares was outstanding during the periods presented. The 68,000,000 shares reflect the number of outstanding shares after giving effect to the four-to-one share split set forth in the company's amended articles of association.


	Accounting policies

	From 1 January 2005, the accounting policies of TrygVesta follow the IFRS standards.
	The comparative figures for 2004 have been restated to IFRS, but in addition to IFRS restatements, the figures for 2004 are net of divested business, which is henceforth included in 'Profit/loss on discontinued and divested business'.

	By IFRS (International Financial Reporting Standards) means that the accounting policies are based on the international accounting standards and interpretations as adopted by the EU. By Danish GAAP means that the accounting policies are in accordance with the Danish Financial Business Act and the executive order issued by the Danish Financial Supervisory Authority on finanvial reports presented by insurance companies and profession-specific pension funds.

	Comparative figures for 2004, 2005 and 2006 have been restated to method of new unwinding. See note 1 'Changes in Accounting policies'.
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