Group Chief Executive Officer (CEO) Morten Hübbe has informed the Supervisory
Boards of Tryg A/S and Tryg Forsikring A/S that he wishes to step down after 20
years on Tryg's Executive Board. Morten Hübbe became part of Tryg at the age of
30 and has since then had a successful career in the company; he held the
position as Group CFO for 8 years until he was appointed Group CEO in 2011.
After having led the Company for 12 years, Morten Hübbe now wishes to step down
and pursue a career at a non-executive level, and have more time for family and
other interests. 

To succeed Morten Hübbe (51), the Supervisory Boards of Tryg A/S and Tryg
Forsikring A/S have today appointed Chief Commercial Officer (CCO) Johan
Kirstein Brammer (46) as new Group CEO as of 1 June 2023. 

Jukka Pertola, Chair of the Supervisory Boards, says: "Morten has done an
outstanding job for Tryg during his long tenure on the Executive Board. I would
like to express my sincere appreciation for his instrumental contributions, as
well as respect for his decision to pursue a career as a non-executive outside
Tryg. Through his high level of professionalism and strong leadership, Morten
has profoundly strengthened Tryg's business, geographical footprint and brand
value. Under his leadership premiums have increased from DKK 20.5bn to
approximately DKK 37bn (with full consolidation of Codan Norway and
Trygg-Hansa), and Tryg's market capitalisation is up from DKK 30bn to DKK 101bn
as of today. Morten's mark on the Group is simply unparalleled."  
     
During his tenure on Tryg's Executive Board, Morten Hübbe has, on several
occasions, mentioned publicly that he didn't have the ambition to remain in an
executive role until typical retirement age. Having held executive positions
from a very young age, he has had an aspiration to step back as an operational
leader much closer to the age of 50 rather than the more usual age around 60.
This has given Tryg's Supervisory Board strong prerequisites for the work with
succession planning. 

The acquisition of RSA's Scandinavian activities in 2020 has been a milestone in
Morten Hübbe's career and a great motivation for him in recent years. It is
therefore with great satisfaction that he, a few years later, can conclude that
the integration of Trygg-Hansa and Codan Norway is proceeding according to the
plan. Morten has therefore seen the spring of 2023 as the perfect time to put
Tryg's future in the hands of a new CEO. 

Johan Kirstein Brammer appointed new CEO of Tryg A/S and Tryg Forsikring A/S
When Johan Kirstein Brammer joined Tryg in 2016, he spearheaded a successful
transformation of Tryg's Danish private business, and was subsequently appointed
CCO and member of the Executive Board in 2018. Johan Kirstein Brammer had a
decisive role in the acquisition of RSA's Scandinavian activities and is known
for his relentless focus and passion for customer centricity and value creation.
Since his appointment to the Executive Board in 2018, Johan Kirstein Brammer's
potential to one day lead the Company has been evident. 

On Johan Kirstein Brammer succeeding Morten Hübbe, Jukka Pertola adds: "I am
very pleased to announce the appointment of Tryg's current CCO Johan Kirstein
Brammer to succeed Morten Hübbe as Group CEO. Our succession planning has been
rigorous and successful, and with Johan's enormous drive, strong business acumen
and demonstrated track record, I have no doubt that he is the right person to
take over, and lead Tryg on its continuous journey as the Scandinavian market
leader."

Johan Kirstein Brammer holds a law degree from University of Copenhagen and
started his career as a lawyer with Kromann Reumert. Later on, he added an MBA
from Australian  Graduate School of Management and a Graduate Diploma in Finance
from Copenhagen Business School to his CV. During his years with McKinsey & Co,
Carlsberg, Egon Zehnder and as a member of the executive board at Danish telco
TDC, Johan's strong leadership skills and commercial toolbox were formed. 

"It makes me incredibly humble and proud to take on the role as CEO of Tryg.
Tryg is a unique company with more than 7500 skilled employees - a company with
an impressive legacy and position in the Scandinavian insurance industry. As an
insurance company, we touch the lives of more than 5 million customers and it is
essential to me that we continue to have a customer centric approach in
everything we do. In addition to that, Tryg must remain an attractive place for
talents to unfold their careers, while we deliver market leading profitability
and push ourselves to act as a good corporate citizen that creates value for all
our stakeholders," states Johan Kirstein Brammer.

Expansion of the Executive Board in Tryg A/S and Tryg Forsikring A/S
With a view to ensure the right mix of competences in the Executive Board going
forward, the Company has also announced the appointment of two new members by 1
March 2023. Mikael Kärrsten has been appointed Chief Technical Officer and
Alexandra Bastkær Winther has been appointed Chief Commercial Officer, both
internal promotions. 

Mikael Kärrsten (47) has more than 20 years of experience from the insurance
industry and comes from a position as Head of Group PPU (Price, Product,
Portfolio Management and Underwriting) in Tryg. He has previously held several
senior leadership positions with Codan and Trygg-Hansa, including Head of
Underwriting. Mikael has been one of the main architects behind Trygg-Hansa's
incredibly well-run and profitable business - and he knows the Swedish insurance
market better than most. A market which today accounts for up to 45 percent of
the Group's technical result. In addition, Mikael possesses a deep technical
understanding of insurance, which is based on a data and insight driven
approach. 

Alexandra Bastkær Winther (37) comes from a position as CEO of Alka Insurance
(stand-alone entity within the Tryg group). She has been with Tryg since 2020
where she, prior to her appointment to Alka, as head of Group Strategy and M&A
played a key role in the historical acquisition of RSA's Scandinavian activities
(Trygg-Hansa and Codan Norway). As Chief Commercial Officer, Alexandra will take
over Johan Kirstein Brammer's current areas of responsibilities, which covers
enhancement of commercial value creation across the Group, the integration and
realisation of synergies from acquisitions as well as the corporate strategy
function. 
According to Morten Hübbe, the appointment of the two new executives will add
valuable skills to the highly successful Executive Board that represents years
of value creation and continuity. 

"Johan and I are thrilled to welcome Alexandra and Mikael to Tryg's Executive
Board - both of them are accomplished leaders with a set of unique capabilities.
The two newly appointed executives will join an eminent and close-knit Executive
Board, and it is our clear conviction that this is the absolutely best team to
shape Tryg's future," concludes Morten Hübbe.     

Additional information
Tryg will host a press conference (in Danish) at 10:00 CET at its headquarter in
Ballerup, Denmark with participation of Morten Hübbe, Johan Kirstein Brammer and
Jukka Pertola. It will only be possible to ask questions if physically present
at the press conference. Broadcast available at
https://getvisualtv.net/stream/?tryg-8ycf4cfrvq

Investor inquiries, please contact Gianandra Roberti, Head of Investor Relations
+45 20 18 82 67
Press inquiries, please contact Camilla Lercke, Head of Corporate Relations +45
53 39 23 84

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