Moody’s ups Tryg Forsikring, debt

Moody's Investors Service said it upgraded the insurance financial strength rating of Tryg Forsikring A/S, the main operating company of the Tryg Group, to A1 from A2.

The agency also upgraded Tryg Forsikring's subordinated debt to A3 (hyb) from Baa1 (hyb).

The outlook is stable.

Moody’s said the upgrade reflects: (a) Tryg's track record in reporting consistently strong profitability, both from a return on capital and underwriting perspective, which Moody's believes will be sustained; (b) very good capitalization and relatively low financial leverage; (c) very good asset quality; and (d) top tier P&C market positions in Denmark and Norway.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.