Tryg Forsikring A/S Due Diligence

Run due diligence on Tryg Forsikring A/S: check compliance and get alerts when suppliers or ownership change.

Denmark · owned by TRYG A/S (Denmark) · www.tryg.dk · 57 vendors

Tryg Forsikring A/S is Denmark's largest insurance company, offering a wide range of personal and commercial insurance products including car, home, travel, and pet insurance. The company operates across Denmark, Norway, and Sweden, providing customers with both insurance coverage and value-added services through its 'EkstraTryghed' programme. Tryg is listed on Nasdaq Copenhagen and is one of the largest non-life insurers in the Nordic region.

Resilience scores

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Services catalogue

2 services in catalogue across 2 categories; runs on 57 sub-vendors.

Insights

Last updated 2026-10-11 · revision 23

57 direct vendors, 329 subvendors

Direct vendors by controlling owner country (sample)

Subvendors by controlling owner country (sample)

Compliance

12 in-scope frameworks identified; showing 3.

IDD — No public evidence

As a company that manufactures and sells insurance products to customers within the EU, Tryg is subject to the IDD, which regulates the distribution of insurance products.

Evidence: https://www.securities-services.societegenerale.com/fileadmin/user_upload/sgss_regulatory_review/Fiches_Market_initiatives/2025/Fiches_Focus_TKM_10_25/FichePRIIPS-ToKnowMore.pdf

ISO 27001 (source) — No public evidence

ISO 27001 is a voluntary standard. However, for a large financial services company, certification is a common expectation from customers, partners, and regulators to demonstrate a mature approach to information security.

Evidence: https://tryg.com/en/environmental-management-system

DORA (source) — No public evidence

DORA applies directly to all financial entities in the EU, including insurance undertakings. The Danish implementation of NIS2 for the financial sector is explicitly integrated with DORA requirements.

Evidence: https://www.upguard.com/blog/what-is-the-digital-operational-resilience-act, https://www.fortra.com/resources/guides/ultimate-guide-dora-compliance-financial-sector, https://ezine.eversheds-sutherland.com/eu-nis2-directive/denmark

Financials

Three-year financials

Financial Resilience Score: 9/10

Tryg Forsikring A/S demonstrates exceptional financial resilience as the leading non-life insurance group in the Nordic region. The company holds dominant market positions (24% in Denmark, 17% in Sweden, 13% in Norway) and reports a very strong solvency ratio of 196% at end-2025, well above regulatory requirements. Its combined ratio has steadily improved from 82.8% in 2023 to 80.3% in 2025, significantly better than the ~95% break-even benchmark in P&C insurance, indicating best-in-class underwriting discipline. The investment portfolio of DKK 60 billion is conservatively managed with 93% of fixed income rated AAA, split between a 75% match portfolio hedging insurance liabilities and a 25% free portfolio of covered and government bonds. Profitability has compounded strongly, with earnings growing at an average 15.6% annually and insurance service result rising 12.6% in FY2025. Shareholder remuneration remains robust with a FY2025 dividend of DKK 8.20/share (+5% YoY) and a DKK 1bn buyback programme. Key risks include weather/nat-cat volatility (2025 benefited from DKK 442m favorable weather deviation that could reverse), FX translation exposure to SEK and NOK, high goodwill/intangibles representing ~75% of equity due to the RSA Scandinavia acquisition, and regulatory scrutiny from the Danish Consumer and Competition Authority. The investment result also declined from DKK 911m to DKK 778m in 2025.

Key strengths: Dominant Nordic market position (24% DK, 17% SE, 13% NO), Strong solvency ratio of 196% at end-2025, Best-in-class combined ratio of 80.3% (2025), Conservative investment portfolio with 93% AAA-rated fixed income, Consistent shareholder returns (DKK 8.20/share dividend + DKK 1bn buyback), RSA Scandinavia synergies realized DKK 711m in 2025, Earnings compounded at 15.6% annual average, Insurance service result grew 12.6% YoY to DKK 7.95B

Risk factors: Weather and nat-cat claims volatility (2025 benefited from DKK 442m favorable deviation), FX translation exposure to SEK and NOK, Goodwill and intangibles represent ~75% of shareholders' equity, Danish regulatory scrutiny from DCCA report (April 2025), Investment result declined from DKK 911m (2024) to DKK 778m (2025), Norwegian private segment profitability still being turned around

Revenue by geography

Revenue by product/service

Workforce by country

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