Our shareholders

TrygVesta builds and maintains good relations with shareholders and other financial stakeholders by emphasising openness, transparency and a fundamental understanding of stakeholder information requirements. We strive to maintain a high level of information by:

• being available and answering queries as promptly as possible
• preparing plain and relevant written communication
• being proactive in our dealings with investors

We publish information that may influence the pricing of our shares pursuant to the rules applicable to distribution of information in the EU and also update the Group’s website www.trygvesta.com. In addition, we distribute information directly to the London Stock Exchange, the press, equity analysts, investors and other stakeholders.

In accordance with the recommendations issued by OMX The Nordic Exchange Copenhagen, we refrain from commenting on matters relating to our financial performance or outlook during a period of three weeks prior to the release of financial reports.
 

TrygVesta shares

TrygVesta shares opened 2007 at DKK 431.5. On 9 January 2007 we announced that the Group expected to report a preliminary pre-tax profit for 2006 of DKK 3.7bn against the previous forecast of DKK 3.2bn provided in the announcement of our financial results for the nine months ended 30 September 2006. Subsequently, the price increased to DKK 480 during the spring, ranging between DKK 440 and DKK 480 until mid-June. The announcement of a new profit distribution policy on the Group’s first capital markets day held on 22 June 2007 triggered a 2% increase in the share price.

Over the summer of 2007 financial markets became increasingly jittery due to a liquidity and loan crisis triggered by non-performing US sub-prime loans. The period from mid-July to end-August 2007 saw equity markets drop by some 12%, with financial equities being hit particularly hard. The financial unrest continued during the remainder of the year with TrygVesta shares trading at DKK 375 in November, the lowest price recorded in 2007. However, equity markets began to pick up towards the end of 2007.

TrygVesta shares closed the year at DKK 388, equivalent to a market capitalisation of DKK 26.4bn. The shares provided a negative return including dividends 2.9% for 2007.

Competing insurance shares performed as follows in 2007: Alm. Brand minus 28.5%, Sampo minus 4.9% and Topdanmark minus 21.4%. Codan was delisted on 31 Juli 2007. The share increased by 11.4% up to the delisting.

The European insurance share index, DJ Euro Insurance Index, fell by 11.9% in 2007.

TrygVesta shares had average daily turnover of DKK 117m in 2007. The total volume traded on OMX The Nordic Exchange Copenhagen was DKK 47.9bn. The ten most active traders in 2007 in terms of turnover were:

 

Shareholder structure

TrygVesta has a single class of shares, and all shares rank pari passu. Our principal shareholder, Tryg i Danmark smba (Kgs. Lyngby, Denmark), holds 60% of the issued shares and is the only shareholder with a holding of more than 5%. Tryg i Danmark smba is a company with limited liability investing in businesses that promote peace of mind, health and security in the Nordic region and a supporter of benevolent activities.

At 31 December 2007, the remaining 40% of the TrygVesta shares (free float) was held by 28,420 registered shareholders. Of the 40% free float shares, the 200 largest shareholders held 66%. Some 24% of the free float shares was held by international investors, and 76% by Danish investors. TrygVesta holds treasury shares corresponding to 0.53% of the share capital.

Dialogue with investors

The Group Executive Management and our Investor Relations department hold meetings with investors and equity analysts in Europe and the USA on a quarterly basis. The target is to hold 250-300 investor meetings each year. Our aim is for 10-15 equity analysts to actively follow TrygVesta’s performance, and that three to five of these analysts should be based in London.

In 2007, we held 250 meetings with investors and equity analysts and took part in 15 investor conferences. We organised our first capital markets day on 22 June 2007 at the Ballerup head office, an opportunity for Management to present the Group’s performance, opportunities, challenges and targets to 36 analysts and investors.

The Group’s website at www.trygvesta.com is an important vehicle for providing information about the Group’s performance to prospective investors. The website will be relaunched in early 2008 in a more user-friendly version and with improved content. Teleconferences and webcasts can be downloaded as podcasts from the new website, and interested parties can stay updated on the latest news through RSS feeds. Our Investor Relations department focuses strongly on making updated and relevant information easily accessible to investors, and urges all interested parties to use the website.

 

Annual general meeting

TrygVesta’s annual general meeting will be held on 3 April 2008 at Øksnehallen, Halmtorvet 11, DK-1700 Copenhagen V, Denmark. The invitation to attend the meeting will be advertised in the press and will be sent to all shareholders who so request. Notice of the annual general meeting will also be posted on www.trygvesta.com.

Any queries relating to the annual general meeting may be addressed to:

Bjarne Lau Pedersen, Chief Group Legal Adviser, Telephone +45 4420 3065, E-mail bjarne.lau@tryg.dk

Ole Søeberg, IRO, Telephone +45 4420 4520, E-mail ole.soeberg@tryg.dk.