All Danish customers of insurance company Tryg are members of TryghedsGruppen. TryghedsGruppen is the largest shareholder in Tryg and is responsible for funding TrygFonden.
Each year TryghedsGruppen supports projects promoting safety, health, and well-being in the Danish society. In 2023, TryghedsGruppen will spend up to DKK 680 million on activities both through direct donations and in partnerships with other philanthropic organizations.
TryghedsGruppen has 1.4 million members and all members have the right to vote for the board of representatives which is the governing body of TryghedsGruppen. The board is composed of 70 members who decide on matters such as overall strategy, major investments etc. All members are also eligible to receive a bonus if the board of representatives decide that TryghedsGruppen’s financial result supports paying out a bonus. Since 2016 TryghedsGruppen has paid out 7 billion DKK in bonus to its members.
Investments
In addition to being the largest shareholder in Tryg, where TryghedsGruppen currently (December 2022) holds 46% of the shares, TryghedsGruppen has investments in a number of investment funds, as well as larger direct investments in the companies Falck and SATS. TryghedsGruppen’s ownership of Tryg makes up 90% of the market value of TryghedsGruppen’s assets.
As a consequence of TryghedsGruppens decision to support Tryg in the acquisition of RSA Scandinavia in 2021 TryghedsGruppen’s investment activities have been restructured with a focus on liquidity and solvency requirements and preparing to increase the ownership share of Tryg.
With the restructuring of the investment activities TryghedsGruppen aims at retaining a liquid portfolio of 1-2 bn DKK. The portfolio is invested in liquid listed assets mainly bonds with a relatively short duration.
TryghedsGruppen also has a number of investments in non-listed funds. These comprise classical private equity funds but also credit and property funds. The portfolio is gradually being unwinded as a consequence of TryghedsGruppens decision to support Tryg in the acquisition of RSA Scandinavia.
TryghedsGruppen has historically had larger individual investments. However this portfolio has gradually been reduced and now only comprise an ownership stake in Danish company Falck and Scandinavian fitness chain SATS. TryghedsGruppen is not pursuing new investments in this category.
Twice a year TryghedsGruppen publishes its holdings on its webpage. For the latest list click here.
Ethical guidelines
TryghedsGruppen’s practice is guided by the commonly held code of ethics drawn up by the UNPRI guidelines. Furthermore, our Board has decided that we should not invest in alcohol and tobacco firms, nor in companies whose main activity is the extraction of fossil fuels.
We apply these ethical guidelines not only to our own activities, but also to the activities of our external asset managers, who commit to the same ethical principles when managing our assets. For that reason, we monitor the activities of these managers to ensure that they are in alignment with TryghedsGruppen’s ethos.
We will not invest in:
- Companies that have activities in countries which do not enforce Danish or UN boycotts.
- Companies whose activities violate Danish law (e.g. money laundering).
- Companies whose activities violate UN conventions (e.g. child labor, racial and other forms of discrimination).
- Companies that support particular political or religious movements.
- Companies whose main activity is the manufacture of alcohol, tobacco and other harmful products.
- Companies that manufacture arms.
- Companies that might otherwise cause damage to the reputation of TryghedsGruppen.
- Companies whose main activity is the extraction of fossil fuels.