Announcement is hereby given that Codan Forsikring A/S (the "Transferor") with company registration (CVR) no. 41963948 which covered risks in both Denmark and other EEA countries, applied to the Danish Financial Supervisory Authority ("DFSA") for approval to transfer the Transferor's activities, including the insurances underwritten by the Transferor out of Denmark, to Alm. Brand Forsikring A/S (the "Tranferee") with company registration (CVR) no. 10526949 as a result of the Transferor becoming part of Alm Brand Group last year. The application was submitted on 5 October 2023 pursuant to section 204 of the Danish Financial Business Act (Consolidated Act no. 406 of 29 March 2022) now section 195 of the Danish Insurance Business Act (Act no. 718 of 13 June 2023 as amended), and the approval was granted by the DFSA on 5 March 2024 with consent from local regulators in the respective EEA countries (where applicable). The transfer will take effect on 31 March 2024.
Further information on both the Transferor and the Transferee is stated below.
What does this mean for the policyholders?
The transfer has no consequences for the coverage or terms of underwritten policies. The Transferee is pleased to have the existing policyholders as customers and the company is looking forward to continuing to provide the policyholders with proper insurance coverage.
The Transferor as a legal entity ceased to exist after the transfer. All of the policyholders' policies with the Transferor are continuing with the Transferee after the transfer. However, the Codan brand will not change.
Policyholders' right to object to the transfer and/or terminate their insurance contract
If the policyholders have a right to object to the transfer and/or a right to terminate their insurance contract due to the transfer, conditions for such objection and/or termination have been or will be informed to the policyholders individually and/or by local advertising. The policyholders are thus referred to that information in this regard.
The relevant information for policyholders from the Netherlands is available here
If the policyholders do not wish to make objection and/or to terminate their insurance contracts, they do not need to take any further action.
Detailed company information on the entities involved in the transfer
Transferor
Codan Forsikring A/S, a limited liability company, incorporated in Denmark with company registration (CVR) no. 41963948 and registered address at Gammel Kongevej 60, 1790 Copenhagen V, Denmark.
Transferee
Alm. Brand Forsikring A/S, a limited liability company, incorporated in Denmark with company registration (CVR) no. 10526949, and registered address at Midtermolen 7, 2100 Copenhagen Ø, Denmark. Codan Forsikring A/S was prior to the transfer operating in the respective EEA countries under freedom of services rules and Alm. Brand Forsikring A/S continues to do so after the transfer.