Denmark-based supplier of insurance solutions TrygVesta has reported that gross earned premiums amounted to DKK4.23 billion in the third quarter of 2007, equivalent to 4.5% growth in local currency relative to the same period in 2006.
Premium growth was driven by 9.7% growth in corporate (10.2% in local currency terms) and 71% growth in Finland and Sweden. Growth rates were 0.3% (1.0% before bonus) for Private & Commercial Denmark and 0.6% (0% in DKK terms) for Private & Commercial Norway.
The gross claims ratio was 64.4 in the third quarter compared with 62.4 in the year-earlier period. The rise was attributable to an increase in the number of large claims totaling a gross amount of DKK196 million compared with a gross amount of DKK50 million in the same quarter of last year.
Pre-tax profit was DKK726 million in the third quarter of 2007, compared with DKK1.11 billion in the year-earlier period. Profit after tax was DKK487 million in the third quarter of 2007, which was DKK508 million lower than in the year-earlier period.