Growing a successful core, while shaping the future

2021 marked the beginning of Tryg’s new strategy period. The strategy for 2024 is in line with Tryg’s overarching purpose.

New targets - same solid foundation

Tryg’s new 2024 strategy launched in autumn 2021 after being postponed for a year due to the acquisition of Trygg-Hansa and Codan Norway. The strategy picks up where the old strategy left off. This means that Tryg will continue its focus on ensuring strong financial performance, on developing the customer journey experience, continue its digitalisation efforts, as well as increasing the focus on corporate responsibility.

 Four themes, which are all built in our strong foundation are at the core of our new strategy. It is these strategic initiatives that will support both our financial and customer targets.

Strategic initiatives 2021-2024

Full speed ahead in core

Full speed ahead in core is targeted to increase the technical result by DKK 1,050m. The initiatives relate to a more advanced approach to claims, which, through claims handling and process excellence, procurement, and fraud detection contributes DKK 650m. Additionally, sales and customer excellence is expected to contribute DKK 400m to the technical result through partnerships and distribution, cross- and upselling, as well as pricing and analytics

Change the way to win B2B

Change the way to win B2B by growing among smaller SMEs in Commercial and improve profitability in Corporate in order to contribute DKK 600m to the technical result. This is done through increasing the portfolio of smaller SMEs by 30% and aiming for a combined ratio in the corporate segment of 90%. Through more accurate underwriting and reduced risk exposure, improved sales and distribution, and new offerings and products, the expected contribution to the technical result is DKK 600m.

Shape the future

Shape the future by expanding the market of today and build the market of tomorrow to contribute DKK 1,500m in premiums across product types. From 2018 to 2020, 50 new products from Tryg increased premiums by DKK 1,060m. Continuing the innovative approach to products will aid in achieving the goal of building the market of tomorrow. Additionally, by adapting current offerings to new trends, Tryg ensures to expanding the market of the current product portfolio.


Synergies from the integration of Trygg-Hansa and Codan Norway will contribute DKK 900m in synergies. 80% of these are driven by cost reductions from administration and distribution, procurement, and claims. The remaining synergies are derived from commercial. By utilizing the experience gathered from the integration of Alka, Tryg has the knowhow needed to ensure the successful integration of Trygg-Hansa and Codan Norway as well.

Ambitious financial targets 2024

At the Capital Markets Day in November 2021, Tryg announced new ambitious targets for the period up until 2024.

DKK 7.0-7.4bn
Technical result
Expense ratio reaffirmed
≤ 82
Combined ratio
≥ 25
Return on Own Funds
Trygg-Hansa and Codan Norway synergy realisation

Tryg's purpose

The new strategy follows Tryg’s established purpose:


As the world changes, we make it easier to be 'tryg'

Strategy and purpose go hand in hand
Where our purpose is a constant guiding principles, our strategy focuses on targets and actions for a specific period of time.