ICMIF’s members drive the Danish insurance market

20 November 2018

denmark

Two ICMIF members from Denmark have received national acclaim for their outstanding reputations.

“danmark” health insurance and LB Insurance were ranked number one and two respectively, in terms of having the best image among financial companies in Denmark according to a recent independent survey.

Seventy of the largest financial companies in Denmark were analysed, based on answers from more than 5,000 selected Danish representatives. The survey assessed the largest banks, insurance companies, pension companies, mortgage companies and investment associations in the country based on eight different image parameters.

In six out of eight parameters “danmark” health insurance and LB Insurance ranked first and second among the 11 largest insurance companies.

“We are very proud that this year we succeeded in taking the first place following two years being runner-up. We will continue to strive at meeting our members’ expectations and protect our reputation,” says Allan Luplau, CEO of “danmark” health insurance.

GF Insurance sees growth in new customer numbers

And the good news for ICMIF’s Danish members doesn’t end there. In the first half of this year, twice as many new customers entered the doors of Danish ICMIF member GF Forsikring compared with the same period last year. Despite negative investment return, the insurance company has upgraded its expectations for the year and says it predicts it will show good results by the year-end that will benefit members through a range of good insurance products and by them receiving a share in the profits.

The customer-driven insurance company says it saw a net increase of about 10,000 customers in the first half of the year, which is twice as many as the same period last year.

Customer growth has resulted in gross premium income rising to DKK 974.9 million, a growth of 8.4 per cent compared to the first half of 2017, according to GF Forsikring’s recently issued interim report.

“We are riding a positive wave, where more and more customers are choosing to be a member of GF Forsikring, the customer-driven insurance company with profit sharing and local proximity,” says Jesper Mortensen, CEO of GF Forsikring, in the announcement. He continues:

“At GF Insurance, we are currently harvesting the fruits of our growth initiatives over recent years, where, among other things, increased sales efforts and cooperation through strategic partnerships have increased pressure on the market, while gradually increasing activity within our new business area. In the first half of the year, a number of new local group agreements have also been added in addition to our existing strategic partnerships. “

For member-only strategic content on the cooperative/mutual insurance sector, ICMIF members have exclusive access to a range of online resources through the ICMIF Knowledge Hub.

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