
The history of Tryg
The history of Tryg
1728 - today
Follow Tryg’s journey through time
Copenhagen experiences the largest fire in the history of the city. The flames continues for more than 60 hours, burning down 1600 buildings in the process. The fire heightened public awareness of the need to insure oneself.
Because of the massive destructions, Denmarks first Fire-Insurance is established by Royal Decree. ’Kjøbenhavns Brand’ is the oldest part of Tryg’s history.
1800's
The name Tryg appears for the first time, as part of the Danish life insurance company called ‘Livsforsikringsselskabet Tryg A/S’. Over the next years a group of smaller companies merges and form ‘Andels-Anstalten Tryg’ in 1911.
1900's
Over the years 1974-1975 a group of smaller insurance companies - including Kjøbenhavns Brandforsikring and Andels-Anstalten Tryg – merge again. As a result, the mutual company Tryg Insurance emerges.
The mutual Tryg Insurance demutualises and becomes a public limited company. New ownership is placed in ’Tryg i Danmark smba’ – later known as ’TryghedsGruppen’.
Tryg acquires Baltica and continues operations under the name Tryg-Baltica.
Tryg i Danmark smba establishes the Danish foundation TrygFonden – a non-commercial organisation operating charitable projects across Denmark outside commercial interests. Same year, Tryg Kaution (now Tryg Garanti) becomes a part of Tryg.
Tryg-Baltica merges with the second largest bank group in Denmark, Unidanmark (now Nordea Group). Tryg acquires the Norwegian insurance company Vesta the same year.
2000's
Tryg-Baltica, Vesta and Unibank contributes to the formation of Nordea. By this Tryg i Danmark smba holds a 6 % share in the Nordic banking group.
Same year
Tryg i Danmark smba acquires Nordea's non-life insurance activities and forms TrygVesta. The Group continues using the brand name Tryg in the Danish market and Vesta in the Norwegian market.
Same year
Stine Bosse is appointed CEO of TrygVesta and launches an ambitious turnaround project under the headline Combined Ratio 95. The aim is to prepare Tryg for a listing within a few years.
TrygVesta is listed on the OMX Nordic Stock Exchange Copenhagen on the 14th October 2005. The opening share price is DKK 230.
In December TrygVesta is a part of the OMXC20 index, comprising the 20 most traded shares on the OMX Nordic Stock Exchange Copenhagen.
TrygVesta launches its first Swedish branch, Vesta Skadeförsäkring, in June.
Tryg i Danmark smba changes its name to ’TryghedsGruppen'. TrygVesta and AXA Corporate Solutions enters a partnership agreement. TrygVesta is now able to use the international network of AXA Corporate Solutions to meet Nordic customers' international insurance requirements.
The acquisition of the Swedish insurance company, Moderna Försäkringar, is completed on the 2nd April, making Moderna a part of TrygVesta. Moderna contributes with around 250 employees and a 4% share of the Swedish market to the Group.
2010's
In August, TrygVesta simplifies its name to Tryg. The change is the natural result of a stronger joint Nordic culture in the group and a close cooperation across borders.
Due to the name similarity with RSA's Swedish operations Trygg-Hansa, Tryg keeps the name Moderna in Sweden.
Same year
After a period of 24 years with Tryg, Group CEO Stine Bosse resigns her post. The Supervisory Board appoints Morten Hübbe as her successor. Morten Hübbe has been with Tryg since 2002 and been CFO since 2003.
Same year
The Tryg share is doing well. In February Group CEO Morten Hübbe is invited to close trading at the NASDAQ stock exchange in New York.
In Denmark, Tryg is the strongest insurance brand, according to the 2012 brand index for the financial sector prepared for Finanswatch.
Same year
The severe storms Allan and Bodil crosses Denmark and Sweden. The first storm alone leaves behind 28,000 claims for Tryg to process. After Bodil thousands of home owners are helped fighting the rising water, which is later categorized as a flood December 10th.
At Capital Markets Day in London, Morten Hübbe presents new financial targets and customer targets for 2017.
On May 12th, Tryg splits its share in 1:5. Each share with a nominal value of DKK 25 is replaced by five shares with a nominal value of DKK 5. Same year, Tryg’s internal capital model in relation to Solvency II is approved by the Danish FSA.
Same year
For the first time, TryghedsGruppen pays out a bonus of DKK 696 million to its members (Tryg’s Danish customers). The bonus corresponds to 8 % of the premium paid for 2015.
Same year
A new purpose for Tryg is launched at Capital Markets day in November. Morten Hübbe presents new financial targets and customer targets for 2020, thus beginning a new strategy period.
Same year
In November, Tryg received the final approval of the Alka acquisition from the Danish Competition and Consumer Authority.
Same year