Tryg as a
Responsible company

The foundation for running a sustainable and responsible business is to ensure a high level of ethics and to comply with the rules and regulations of the countries in which we operate.

Tryg is committed to running an ethical, transparent and responsible company. Our commitment to ethical and strong corporate governance as well as compliance with all applicable national and international legislation is the foundation on which we build and drive our business and is enforced through Tryg's policies. Hence, business ethics and compliance are underlying, but fundamental elements to everything we do as a company and in our Corporate Responsibility strategy.

Responsible procurement

Tryg’s procurement decisions have environmental, social and economic impacts. As a large buyer with a significant annual purchasing volume, we commit to contribute to sustainable development by collaborating with suppliers who share our values. Sustainability is an integral part of our sourcing and procurement processes to safeguard that we can uphold our commitment through the products and services we purchase and contractual agreements we make.

As a signatory member of the UN Global Compact we expect our suppliers and partners to, as a minimum, adhere to the principles that are outlined in our Supplier Code of Conduct. We evaluate our suppliers’ sustainability compliance and performance via our supplier collaboration platform and give advantages to the suppliers that perform well.  We believe the most impactful way to achieve sustainable development, together with our suppliers and partners, is to engage in a close dialogue and support each other in doing more.

Targets
  • 50-70% of contract suppliers to be screened for sustainability compliance and performance in 2023
     
  • 40% of our screened suppliers to achieve a high-performance rating in 2023

Responsible investment

At Tryg, we want to ensure that our assets are invested in a responsible manner and that investments are conducted in accordance with our values. This is insured through our investment policy, regularly ethical screenings and active ownership.

Tryg invests DKK 40bn annually, and our investment assets are split into two portfolios: a match portfolio and a free portfolio. Tryg’s investment activities are outsourced to external portfolio managers who are required to be UN PRI signatories

As a responsible investor, we want to reduce our carbon footprint from our investment portfolio. Therefore, we will prioritise investments in companies that are contributing or show willingness to participate in the transition to a low carbon economy. We have set targets to reduce the carbon intensity from our equity portfolio by 50% and divest all our investments in fossil fuel production companies with no strategy for a green transition by 2030.

Targets
  • 50% CO2 reduction from equity portfolio in 2030 compared to 2020
     
  • Exclusion of fossil fuel production companies with no strategy for a green transition in 2030
     
  • 100% external asset managers are UN PRI signatories in 2023
     
  • Attending minimum 90% of potential annual general meeting votes
     
  • Investment of DKK 5bn in green bonds by 2030

Diverse workplace

Being a diverse and inclusive workplace is an important priority to Tryg. We believe that diversity of thought is a key element to our future success, and we want to reflect the society that we are part of.  Therefore, we focus on attracting a diverse pool of employees and leaders from different backgrounds and with different skills and experience to match the changing needs of our customers and society.

We believe that diverse management teams make better decisions and are more innovative and we are dedicated to increase diversity in our leadership teams on three parameters: gender, age and industry-/experience.


For several years, Tryg has had a strong focus on increasing the gender balance in management positions. 
To attract, hire and retain female leaders as well as increase diversity in management teams, we focus on eliminating bias in recruitment and HR processes.

At Tryg we cherish an inclusive and equal culture that fosters flexibility and work-life balance. Therefore, we urge not only our women, but also our men, to make use of our favourable paternity leave conditions.

Targets
  • 41% women in management positions in 2023