Alm. Brand Group

What Alm. Brand Group does

Alm. Brand Group A/S is a Danish publicly traded financial services and insurance company headquartered in Copenhagen and listed on Nasdaq Copenhagen under the ticker ALMB. Founded in 1792, it is one of Denmark's oldest insurance providers and operates a unified insurance platform following the 2025 integration of Codan, which was completed as a transformational merger to create one of the country's largest insurers. The company serves private customers, agricultural customers, and companies of all sizes through two operating segments: Personal Lines, offering home, auto, and life insurance, and Commercial Lines, providing business and commercial insurance products.

The company generates revenue primarily through insurance premiums and related underwriting activities across both segments, with no public pricing model disclosed. Its distribution approach likely spans direct sales, independent brokers, and digital channels typical of Danish financial services firms, though specific channel details are not documented in available sources. Management unveiled new financial targets at the November 2025 Capital Markets Day, including a combined ratio target of 82 by 2028 and 10% annual earnings per share growth, predicated on operational efficiencies and cost synergies from the Codan platform consolidation. Q1 2026 results showed 2.5% YoY insurance revenue growth, with Personal Lines up 6.4% and Commercial Lines down 1.8%, reflecting active underwriting discipline. The company has executed significant capital actions, including a DKK 1.0 billion share buyback programme, a DKK 900 million Tier 2 capital notes issuance extending duration to 2056, and a 3.3% reduction in share capital through treasury share cancellation.

Name

Alm. Brand Group

Legal name

Alm. Brand Group A/S

Website

https://almbrandgroup.com

Company type

Public

Founded year

1792

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Alm. Brand Group is a Danish publicly traded insurance company serving private customers, agriculture, and businesses of all sizes through Personal Lines and Commercial Lines, following the 2025 integration of Codan into a unified platform.

Ownership category

akta.pro rank

Headquarters

HQ city

Copenhagen

HQ country

Denmark

HQ region

Europe

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Operations, Personnel, Technology or R&D

Core offering

Alm. Brand Group is a Danish insurance and financial services provider offering insurance to private customers, agriculture, and companies of all sizes. It operates a unified insurance platform across Personal Lines (home, auto, life) and Commercial Lines following its integration of Codan.

Product overview

Alm. Brand Group is a Danish financial services company operating as a unified insurance platform following the integration of Codan. The company provides insurance services across Personal Lines and Commercial Lines segments. Based on the available source data, no specific named products, modules, or brand offerings have been identified in sufficient detail to populate the products array. The company's product architecture is described as a unified insurance platform aimed at operational efficiencies with a target combined ratio of 82 and 10% annual earnings per share growth through strategic initiatives.

Differentiator

Problem solved

Functional benefit

Products and services

• Personal Lines Insurance Personal insurance products including home, auto, and life coverage for individual and family customers.
• Commercial Lines Insurance Business and commercial insurance products serving enterprises, companies of all sizes, and agriculture, with profitability-focused underwriting.

Quantifiable outcome

• Target combined ratio of 82 by 2028
• +1 more outcomes

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• CodancoreStrategic or Co-development Partner · 1 January 2025Alm. Brand Group completed the integration of Codan, establishing a unified insurance platform. The merger represents a transformational strategic combination enabling operational efficiencies, cost synergies, and improved market position in the Danish insurance market. The integration has enabled the company to set financial targets including a combined ratio target of 82 and 10% annual EPS growth.

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Sampo Group: Diversified Nordic insurance and financial services holding owning If and Topdanmark. Overlaps with Alm. Brand through both subsidiaries, making it a broader incumbent comparable on consolidation strategy and capital allocation.
• Storebrand: Nordic financial group offering life, P&C, and asset management. Comparable on Nordic insurance operations and capital-management orientation, though broader than Alm. Brand's P&C focus.

Direct peers

• Gjensidige: Nordic P&C insurer with substantial operations across Scandinavia. Comparable to Alm. Brand on combined-ratio focus, multi-country Nordic presence, and similar personal/commercial mix.
• Topdanmark: One of Denmark's two largest non-life insurers with both Personal and Commercial Lines. Most direct Danish competitor to Alm. Brand on customer segments, distribution, and product portfolio.
• If P&C Insurance: Leading Nordic P&C carrier operating in Denmark via If Skadeforsikring. Competes directly with Alm. Brand for Danish personal and commercial insurance customers with similar product breadth.
• Protector Forsikring: Nordic commercial and personal lines insurer focused on profitability and combined-ratio discipline. Comparable to Alm. Brand's strategic emphasis on underwriting margin improvement.
• Codan: Danish insurer now wholly owned by Alm. Brand since 2025. As the legacy entity prior to integration, its historical product mix (Personal and Commercial Lines in Denmark) directly mirrors Alm. Brand's current portfolio.
• Tryg: Nordic (Denmark/Norway/Sweden) P&C insurer with a large personal and commercial book. Directly comparable to Alm. Brand on geography, product mix (home, auto, commercial), and emphasis on combined-ratio management.

Regional players

• LähiTapiola: Finnish mutual insurance group with both personal and commercial lines. Comparable to Alm. Brand on Nordic regional dynamics, mutual heritage influences, and product portfolio breadth.
• Folksam: Swedish mutual insurer with personal and commercial lines across Sweden. Comparable product mix and Nordic market dynamics although not directly competing in Denmark.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/alm-brand-group

Revenue estimate

Valuation estimate

Number of profiles

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 Alm. Brand Group