Alm. Brand A/S is a leading Danish insurance group focused exclusively on the non-life (property and casualty) insurance market. Founded in 1792, the company historically served agricultural and rural communities but has since expanded to cover a broad spectrum of the Danish population. Its business model centers on underwriting risk and collecting premiums across personal and commercial lines. The Personal Lines segment offers car, home, accident, travel, and health insurance to private individuals. The Commercial Lines segment provides workers' compensation, professional liability, fleet, and property insurance to small and medium-sized enterprises, agricultural customers, and corporate clients.
In recent years, Alm. Brand has undergone a significant strategic transformation to become a pure-play non-life insurer. It divested its banking operations (Alm. Brand Bank) to Sydbank in 2020 and sold its life and pension business (Alm. Brand Liv og Pension) to Nordic I&P in 2021. In 2022, the company doubled its size and market share by acquiring the Danish business of Codan Forsikring, cementing its position as the second-largest non-life insurer in Denmark with over 16% market share. To further reduce earnings volatility, the company divested its Energy & Marine business in early 2025. Alm. Brand generates almost all of its revenue domestically and distributes its products through direct channels, tied agents, and strategic partnerships, including a major bancassurance agreement with Sydbank.
