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Governance

Remuneration

Tryg has adopted a policy of remuneration of the Supervisory Board and Executive Board. The policy was adopted at the Supervisory Board meeting on 24 January 2024 and approved at the annual general meeting on 21 March 2024. 

 

Remuneration for executive board

Executive Board

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See remuneration of the board

Supervisory Board

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Incentive schemes in Tryg

Tryg’s management incentive programs are designed to align management around shared Tryg targets that reward performance in a way that is aligned with shareholder interests, consistent with the nature of our industry and that promotes joint engagement and performance, and an increased ability to attract talent through a market aligned structure.

For the Executive Board, the cap for the incentive schemes is 50% of the base salary including pension.

Incentive scheme participants include the members of the Executive Board (including the Group CEO), the Executive Leader Forum (approximately 20 senior leaders) and other leaders in Tryg (STI only).

Tryg’s Board of Directors is not included in the incentive schemes.

Short-term incentive scheme (STI) for 2025

STI-program participants include members of the Executive Board (including the Group CEO), the Executive Leader Forum and other leaders in Tryg.

The program is based on the same structure as previous years STI-program

For the Executive Board the STI-program makes up 30%-point of the 50% variable pay cap. 12%-points are paid upfront in 2026 in cash and 18%-points are granted as Restricted Share Units (RSU’s) which are deferred for 5 years for EB. Hence there is a high degree of alignment between the program and Tryg’s long-term performance

To achieve a maximum reward from the STI 2025, excellent financial and operational performance is required. The assessment will be based on the following performance criteria:

  • Insurance Service Result
  • Customer satisfaction
  • Digitalization          
  • Scale benefits, IT and Claims
  • And an ESG-index comprised of:
    • Employee satisfaction
    • CO2 reductions from claims handling and from Tryg’s own operations
    • Gender balance in management

Long-term incentive (LTI) scheme for 2025–2027

The Board of Directors has decided to adopt a performance based LTI scheme for the Executive Board and the Executive Leader Forum (approximately 20 senior leaders). The scheme is based on the structure described in the Remuneration Policy for Tryg subject to approval of the remuneration policy on AGM 26 March 2025.

For the Executive Board, the LTI makes up 20%-point of the 50% cap. The LTI is granted as 12%-point Performance Share Units (PSU’s), with strategy-aligned targets, deferred for 5 years and 8%-points shares options where the participant value is directly linked to share performance. The PSU’s and the share options have a vesting period of 3 years.

To achieve a maximum reward from the LTI 2025, excellent financial performance is required. The assessment will be based on the following performance criteria:

  • PSU’s: Return On Own Funds (ROOF)
  • Share options: Share price development and expected dividends for the vesting period. The exercise price has been set above 100% of the share price at the time of grant, and will be subject to dividend adjustment. A cap has been set, limiting the gain on the share option grant in the exercise period in any one year from exceeding  25% of the annual salary in the grant year.

Downloads 

Tryg's remuneration policy was adopted at the Supervisory Board meeting on 24 January 2024 and approved at the annual general meeting on 21 March 2024:

 

Tryg's remuneration report provides a full overview og remuneration outcome of our Supervisory Board and Executive Board in 2024. Read the report as well as previous reports here. 

 

Read Tryg's guidelines for remuneration here.