Nordic I&P’s DKK 1.1 Billion Acquisition of Alm. Brand Pension Business

Accura advised Alm. Brand in connection with the transaction.

Alm. Brand has sold its pension business Alm. Brand Liv og Pension for DKK 1.1bn to Nordic I&P.

By the end of 2020, Alm. Brand Liv og Pension had total pension assets of DKK 16.9bn.

The sale of the pension business marks another step in Alm. Brand’s strategy which focuses on building an even stronger position in the non-life insurances market.

As a part of the purchase agreement, Alm. Brand continues to offer its customers average-rate pension schemes, and the terms and conditions remain the same for Alm. Brand’s existing customers.

ALM. Brand A/S is a Denmark-based holding company engaged in the provision of insurance and financial services. The Company’s activities are divided into three business areas: non-life insurance, which offers a range of insurance products, which focus primarily on the personal, commercial and agricultural segment; banking, providing deposit and lending products, pensions and home finance, as well as investment consultancy; and life insurance and pension, which provides corporate pension plans, pension savings, as well as insurance cover, including death, disability and critical illness cover. 

The Accura team was led by Mads Kjellerup Dambæk (Picture) and also included Kenny Michael Andersen, Luise Christensen, Peter Brask Tind, Christian Holmark Skovbo Toft and Joachim Stig Christensen.

Involved fees earner: Peter Brask Tind – Accura; Luise Christensen – Accura; Christian Holmark Skovbo Toft – Accura; Mads Kjellerup Dambæk – Accura;

Law Firms: Accura;

Clients: Alm. Brand Bank A/S;

Author: Federica Tiefenthaler