Tryg announces the acquisition of Troll Forsikring

Troll Forsikring, an Oslo, Norway-based insurance company, announced getting into an agreement to sell 60% of the company to Tryg A/S. The acquisition is aimed to strengthen the market position in Eastern Norway.

Tryg A/S is a Scandinavian insurance company present in Denmark, Norway, Sweden and Finland. The company is the second largest provider of general insurance services in the Nordic countries and is listed on Nasdaq OMX Copenhagen.

Troll Forsikring has a portfolio of NOK 120m and 12,000 private customers. The company has been in a build-up phase and has consequently operated at a loss the last couple of years.

Tryg believes that the portfolio will break even in 2019 including restricting costs and expects the portfolio to gradually produce profitability in line with our Norwegian Private portfolio.