May 20, 2024

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Which Insurance Company is The Most Popular for Danish People?

International Health Insurance for Expats in Denmark

A few companies dominate the insurance scene in Denmark. Online stores reviews in Denmark show that the top four Danish insurance companies (Tryg, Topdanmark, Codan, and Alm. Brand) account for a total market share of 56 percent. This dominance can be due to financial prowess, credibility history, strong affiliations, and partnerships with bigger insurance companies and other notable businesses in and outside the country.

Some Danish insurance companies enjoy prosperity by partnering with other popular businesses such as banks and health and automobile brands. These brands help insurance companies to get more clients. For instance, if you are wondering, “where can I get insurance for my car in Denmark,” and you approach a car service company, don’t be surprised if you are offered insurance. Therefore, here are the popular insurance companies in Denmark.

Tryg 

Tryg is unarguably a top player in the Danish insurance industry. It is the largest insurance company in Scandinavia and has a place on the Nasdaq OMX Copenhagen. Aside from Denmark, the brand operates in Finland, Sweden, and Norway.

The company was established two decades ago (2002) and is headquartered in Copenhagen, Denmark. Tryg’s CEO is Morten Hubbe, who replaced Stine Bosse in 2011. The company, which offers general insurance services, covers many countries and regions, including Isreal, Cyprus, Northern Europe, Greece, Vietnam, Central Asia, Turkey, and more.

Topdanmark 

Topdanmark is among the top insurance companies in Denmark and is a subsidiary of Sampo Group. The company started operating in 1728 and focuses on the private and agricultural sectors, with over 620,000 clients attending to about 300,000 claims annually. Topdanmark provides non-life insurance, an area where it enjoys a 16% market share. It also provides life insurance, where it enjoys a 10% market share.

Codan A/S

Codan A/S is another top insurance company in Denmark. The company was established in 1916 and is currently the third-largest insurance company in Scandinavia. The company is present in Sweden through Trygga-Hansa and in Norway.

Codan A/S’s main focus is on non-life insurance. It was previously into the pension and life insurance until 2004, when it sold them to SEB, a Swedish banking organization. Codan was removed from the Copenhagen Stock Exchange in 2007.

Alm. Brand

Alm. Brand is a Danish insurance company that offers pension, life, and non-life insurance. The company was established in 1792 and has its headquarters in Copenhagen, Denmark. Its current CEO is Soren Boe Mortensen. The company was originally restricted to mutual fire insurance of physical structures in rural areas. The company’s subsidiaries include Alm. Brand Arbejdsskade A/S, Alm. Brand leasing and Alm. Brand Liv A/S.

Gjensidige Forsikring

Gjensidige Forsikring is an insurance company originally from Norway but serves other countries in the Nordic region, including Denmark. The company was established in 1816. The company’s main base is in Oslo, Norway, and it is listed on the Oslo Stock Exchange. With over a million customers, Gjensidige Forsikring has 36 branch outlets in Norway and subsidiaries in Sweden, The Baltics, and Denmark.

Conclusion

Insurance is an important aspect of life in Denmark, which is why the insurance industry is competitive, with major brands and minor ones leaving footprints in other sectors. The insurance companies above are among the most popular in Denmark.