Following a review of Denmark-based Tryg Forsikring A/S under our revised insurance criteria, we are affirming our 'A-' ratings on the company. The ratings predominantly reflect our view of the company's strong business risk profile and moderately strong financial risk profile, based on its strong competitive position, particularly in Denmark and Norway, and moderately strong capital and earnings. The stable outlook reflects our view that Tryg Forsikring will continue to generate strong earnings with a focus on underwriting profitability, and maintain capital adequacy at the low end of the 'A' range. On July 5, 2013, Standard&Poor's Ratings Services affirmed its 'A-' insurer financial strength and counterparty credit ratings on Denmark-based insurer Tryg Forsikring A/S. The outlook is stable.
