0944 GMT - Tryg is not such a safe haven after news that the Danish Competition Council is consulting on a possible investigation into Danish retail property and casualty insurers, Citi analysts James A Shuck and Emanuele Musio write. "Investors gravitate to Nordic insurers as safe-haven plays, and uncertainty undermines this." Initial concerns have some validity, in the bank's view, and there is a greater risk that this could permeate through other Nordic territories beyond Denmark. Citi says this is the first time it's ever seen Nordic regulators look into perceived excessive margins in insurance. "We are now wary of recommending any Nordic insurer." It downgrades Tryg to neutral from buy and lowers its target price to 152 Danish kroner from 180.50 kroner. Shares fall 3.8% to 153.70 kroner. (dominic.chopping@wsj.com)
(END) Dow Jones Newswires
April 02, 2025 05:44 ET (09:44 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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