Velliv

What Velliv does

Velliv is a Denmark-based pension and life insurance company that has operated continuously since 1919 and was rebranded from Nordea Liv & Pension in 2018 before becoming 100% customer-owned through the customer association Velliv Foreningen in 2019. The company serves both private individuals and corporate clients across Denmark, offering market-rate and life-cycle pension savings products (VækstPension, VækstPension Index, LinkPension), a full insurance suite (health, disability, critical illness, death, child pension, group life), and customer benefits such as the VellivKroner cost rebate and priority access to ~2,000 rental apartments managed through its real estate subsidiary Velliv Ejendomme.

The technology foundation is a cloud-first, multi-cloud architecture (AWS primary, complemented by Azure and Oracle OCI) with SAP systems, Snowflake for data, and a proprietary policy administration platform called N16; mission-critical mainframe workloads were migrated to Kyndryl's zCloud environment in Denmark in mid-2026, with Kyndryl Bridge providing AI-driven monitoring as part of a broader hybrid modernization. Distribution runs through a segmented enterprise field-sales force (targeting companies of 2+, 15+, 100+, and 250+ employees), inside phone advisory, and the Mit Velliv self-service portal and mobile app.

Revenue is generated primarily through recurring investment management fees on pension assets under management and recurring insurance premiums across the life and health product suite; the company operates exclusively in Denmark with ~500-1000 employees and recorded a DKK 1,087m operating profit before tax in 2025 — described as the best result in its history.

Name

Velliv

Legal name

Velliv, Pension & Livsforsikring A/S

Website

https://velliv.dk

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Velliv is a Denmark-based, 100% customer-owned pension and life insurance company serving private individuals and corporate clients with savings products, insurance coverage, health benefits, and member rebates through the Velliv Foreningen association.

Ownership category

akta.pro rank

Product category

Pension and Insurance

NAICS

Direct Life, Health, and Medical Insurance Carriers (52411), Pension Funds (525110)

SIC

Life Insurance (6311)

akta.pro primary industry

Annuity & Insurance-Based Retirement Solutions Advisory (FSAEABAH)

Keywords

• Pension savings products
• Life insurance services
• Health insurance coverage
• Corporate pension schemes
• Investment management

Headquarters

HQ city

Ballerup

HQ country

Denmark

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Pension Savings Management: Velliv manages pension savings for individuals and businesses, charging investment management fees. Customers pay contributions that are invested, and Velliv earns returns on assets under management. The company offers market-rate products where investment returns go to customers minus fees.
2. Insurance Premiums: Life insurance, health insurance, disability insurance, critical illness coverage, and group life insurance generate premium revenue. The company provides health insurance with easy access to healthcare services.
3. VellivKroner Customer Benefit: As a customer-owned company, Velliv returns profits to customers through VellivKroner - a discount on investment costs. This is not revenue but a customer benefit mechanism that incentivizes customer retention.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels7 records

Core offering

Velliv sells market-rate and unit-linked pension savings products (life-cycle products such as VækstPension/VækstPension Index and self-directed LinkPension) and a complementary suite of life and health insurance products (health, disability, critical illness, death benefit, child pension, group life). The company operates a 100% customer-owned mutual structure and packages its offerings with personal advisory services, a self-service digital portal (Mit Velliv), a customer-benefit rebate (VellivKroner), and a real estate subsidiary providing rental housing.

Product overview

Velliv is a customer-owned Danish pension and insurance company offering a broad portfolio of pension savings products (VækstPension, VækstPension Index, LinkPension), insurance coverage (health, critical illness, disability, death benefit, child pension, group life), and customer benefits (VellivKroner discount, rental housing, legal discounts). Its products are delivered through a digital platform (Mit Velliv app and web portal) with self-service tools (Investeringsguide, Straksindbetaling), supported by a network of financial advisors and webinars. The company also operates Velliv Ejendomme, a real estate subsidiary, and offers inter-generational housing through the Naboliv concept. The offering is anchored by Velliv Foreningen, the democratic customer-owned association that owns the company and channels surplus back to customers.

Differentiator

Problem solved

Functional benefit

Products and services

• VækstPension A life-cycle pension savings product offering some of the lowest investment costs in the Danish pension industry and top-tier returns over the past 10 years. Available in multiple risk profiles (Lav, Mellem, Høj). For individuals saving for retirement in Denmark.
• LinkPension A self-directed pension investment product allowing customers to manage their own investments by selecting from a range of funds. For private individuals in Denmark who want active control over their pension investments.
• VækstPension Index A life-cycle pension investment product with among the lowest investment costs in the Danish market and returns in the top tier over the past 10 years. For individual pension savers seeking low-cost index-style life-cycle investing.
• Velliv Sundhedssikring Health insurance providing easy access to healthcare support, including mental health resources, physiological counseling, and a network of patient associations. For private customers and employees covered through corporate schemes.
• Forsikring ved nedsat erhvervsevne Insurance coverage protecting customers' income if they become unable to work due to long-term illness or reduced work capacity. For private individuals and as part of corporate employee benefit packages.
• Forsikring ved visse kritiske sygdomme Critical illness insurance providing financial support upon diagnosis of specified serious illnesses. For individuals and employees covered through corporate schemes.
• Forsikring ved død Death benefit insurance ensuring financial security for the customer's beneficiaries upon death. For private individuals and as part of corporate employee benefit packages.
• Børnepension Child pension product providing financial protection and savings for children. For parents and corporate employee benefit packages.
• Gruppelivsforsikring Group life insurance offered to employees through employer-sponsored pension schemes. For Danish companies providing employee benefits.
• Ophørspension Pension product for individuals ceasing employment, providing options for managing accumulated retirement savings upon leaving the workforce. For employees transitioning out of employment.
• VellivKroner A discount on investment costs, funded by Velliv's customer-owned surplus, applied to customers with market-rate pension savings to accelerate pension growth. Distinct customer-benefit offering from Velliv's customer-owned mutual model.

Quantifiable outcome

• Best operating result in company history: 1.087 billion DKK before tax in 2025
• +2 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Six partnerships are on record, tiered core and minor.

• KyndrylcoreTechnology or Integration · 11 June 2026Kyndryl operates Velliv's critical mainframe workloads from its Kyndryl zCloud environment in Denmark. Kyndryl Bridge provides AI-driven real-time visibility, proactive monitoring, and enhanced operational insights across the mainframe environment as Velliv modernizes its application landscape toward a hybrid environment.
• TrygcoreChannel Partner/ Reseller/ DistributorTryg, Nordic region's largest insurance company, offers special discounts and extra coverage for Velliv customers on home, car, and contents insurance. Customers receive free coverage for children under 11 with accident insurance and access to bonuses via Tryghedsgruppen.
• ReplikminorGTM or Marketing PartnerLegal advisory partnership offering Velliv customers 25% discount on all documents within family and inheritance law, such as children's wills, marriage contracts, and future powers of attorney.
• MeyersminorGTM or Marketing PartnerCulinary partnership for joint webinars and content about cooking and healthy eating, promoting community and well-being among customers.
• Velliv ForeningencoreOthersVelliv Foreningen is the democratic association that owns Velliv. All Velliv customers are automatically members. The association distributes part of the profits from ownership to support projects that strengthen mental health in Danish working life.
• 6 Patient AssociationsminorGTM or Marketing PartnerPartnerships with six patient associations providing qualified counseling and access to a valuable and caring network for customers who become seriously ill.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• PFA Pension: Largest Danish commercial pension company with a customer-owned mutual structure, offering pension, insurance, and savings products to individuals and corporate clients — directly comparable to Velliv in target market, product mix, and mutual ownership model.
• AP Pension: Danish mutual pension company providing company pension schemes, individual savings, and insurance products — a direct competitor to Velliv in the Danish mid-market and enterprise corporate pension segment.
• PKA: Danish pension provider focused on social and healthcare sector employees, offering market-rate and traditional pension products — comparable to Velliv in product structure, investment approach, and target employer segments.
• Industriens Pension: Major Danish labor-market pension fund for industrial workers, providing pension, insurance, and health benefits to ~430,000 members — competes with Velliv on cost leadership and corporate pension wins in Denmark.
• Pension Danmark: Labor-market pension fund covering private-sector employees across multiple industries — directly comparable to Velliv's enterprise and SMB corporate pension offerings in Denmark.
• Danica Pension: Danish pension and insurance company owned by Danske Bank, offering market-rate and traditional pension products plus health and critical illness coverage — directly competes with Velliv across both individual and corporate channels.
• Sampension: Danish pension company formed from the merger of several labor-market pension funds, offering company pension schemes and individual retirement products — competes with Velliv for Danish corporate and individual pension mandates.
• Alm. Brand Pension: Danish insurance and pension provider serving both retail and corporate customers with savings, life, and health products — comparable to Velliv in customer segmentation and product breadth in the Danish market.

Broad incumbents

• Nordea Life & Pensions: Nordea Bank's life and pensions operations across the Nordics — Velliv's predecessor was carved out of Nordea in 2018–2019, and Nordea continues to operate pension businesses in other Nordic markets, making it a structural comparable and former parent.
• Tryg: Nordic non-life insurance leader; partner of Velliv (offers discounts to Velliv customers) and competes broadly with Velliv's health, critical illness, and disability products as part of a wider portfolio.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedIndk.linkedin.com/company/velliv
• Instagraminstagram.com/vellivpension

Revenue estimate

Valuation estimate

Number of profiles

Profiles25 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Velliv