Tryg Delivers 'Good Weather Quarter,' Berenberg Says; Rating Kept, Price Target Up

08:17 AM EDT, 10/12/2026 (MT Newswires) -- Tryg (TRYG.CO) delivered a "good weather quarter" with its third-quarter earnings beat, benefiting from lower-than-expected weather claims, Berenberg said. In a Monday note, analysts wrote that the Scandinavian non-life insurer's pretax profit and operating EPS came in 13.8% and 10.9% above consensus expectations, respectively. "By geography, Denmark remains the more challenging market for Tryg, where attractive growth opportunities, particularly in the commercial segment, look to be harder to come by. In Sweden and Norway, however, Tryg is showing good performance and is benefiting from a healthy outlook off the back of recent partnerships wins." Against this backdrop, analysts maintained their hold rating, saying they still struggle to see "meaningful upside" to the stock, while reiterating confidence in the company's ability to deliver its financial targets and guidance. On the flip side, the price target was raised to 165 Danish kroner from 160 kroner. Berenberg's 2026 to 2028 net income and operating EPS projections for Tryg were also raised.