ALM. Brand acquires Codan DK

Alm Brand has completed the acquisition of Codan Forsikring’s Danish business – creating the second-largest non-life insurance company in Denmark with a more diversified customer portfolio, estimated at about 700,000 households and corporate customers.

The new Alm. Brand Group will consist of eight business areas, each headed by an Executive Vice President who will be in charge of managing and developing the business area across the group’s brands. Five business areas are directly related to insurance operations and customer service (Industry, Commercial, Private, Bancassurance and Claims Services), while three business areas (Business Development & Technology, Finance and Staff Functions) are key to supporting the group’s operations and development.

“Today, we’re presenting our strong future group management in charge of completing a successful merger of our two companies. Our goal is to create even better insurance products for our customers, offer new career paths for our employees and achieve the financial ambitions for our new group.”

“Codan, Privatsikring and Alm. Brand each hold strong positions in the market, and the three brands now stand to benefit from having a joint management, stronger development opportunities and a number of shared group functions. Alm. Brand and Codan complement each other very well. Going forward, we will combine the best of both companies to create even better insurance products for our customers. I’m looking very much forward to embarking on this exciting journey with our new group management and all of our colleagues across the group.” – CEO Rasmus Werner Nielsen.