On 27 April 2022, the Danish Competition Council approved Alm. Brand’s acquisition of Codan’s Danish activities in accordance with the merger control provisions of the Danish Competition Act.
The new Alm. Brand Group will be comprised of the 3 brands Alm. Brand, Codan and Privatsikring and will become Denmark’s second largest insurance company with more than 700,000 customers across geography and customer types.
After the merger, Alm. Brand will have annual premium payments in excess of DKK 11 billion.
The Danish Competition Council has approved the merger unconditionally after the Danish Competition and Consumer Authority processed the case in a so-called “Phase II investigation”.
Accura has been in charge of drafting the merger notification and has represented Alm. Brand in relation to the Danish Competition and Consumer Authority throughout the process.