Alm. Brand (ALMB) CMD 2025 summary

Strategic transformation and market position

• Completed transformation into a top-three non-life insurer in Denmark, divesting non-core businesses and integrating Codan Denmark to achieve significant synergies and a harmonised platform.

• Achieved a 15% market share and ~800,000 customers, supported by four strong brands across commercial and personal lines.

• Business model leverages a single, agile platform in Denmark, focusing on resilience, simplicity, and limiting exposure to geopolitical risks.

• Foundation ownership structure supports long-term investment and customer-focused initiatives.

2028 strategy, financial targets, and capital allocation

• 2028 targets include DKK 2,350 million insurance service result, combined ratio of 82%, and expense ratio of 16%.

• Return on own funds target set at 40%, with 10% annual EPS growth expected from 2026 to 2028.

• Minimum payout policy of 80% of net earnings, with continued dividends and share buybacks, including a new DKK 600 million buyback starting in 2026.

• Increased solvency ratio target from 170% to 180% to ensure robust capital position.

Strategic initiatives, customer engagement, and digitalisation

• Strategy focuses on customer engagement, insurance capabilities, and operational platform, with digitalisation and AI central to improvements.

• Customer engagement initiatives target DKK 125 million in benefits, increasing full-service customers from 51% to 55% by 2028, and quadrupling digital sales.

• Strengthening bank partnerships to improve penetration and upselling, targeting DKK ~60 million insurance service result from partnerships by 2028.

• Automation and digitalisation to increase straight-through processing of claims from 10% to 50% and digitally reported claims from 50% to 80% by 2028.

• Operational platform to deliver DKK 175 million in benefits through process automation, platform consolidation, and process excellence.