Tryg-Baltica profits down slightly

COPENHAGEN - Danish insurer Tryg-Baltica Group has announced interim pre-tax profits of DKr856m, compared to DKr720m for the same period in 1997. Total group premium amounted to DKr4.7bn, a 12.5% rise on the previous year's figure. However the group said its gross expenses rose by more than DKr100m to DKr1,029m, mainly due to increased spending on Year 2000 issues and systems designed to make efficiency savings in the future. In the non life sector, Tryg-Baltica Group wrote gross premiums of DKr3,047m, up from DKr3,011m in 1997. Between July and August this year, Tryg-Baltica completed the acquisition of the majority of Dansk Kaution