Danica chief holds firm on growth outlook despite insurance price hikes

Danica has upped its prices for customers' health and accident insurance. The CEO believes in growth for Danica, even though competitors are not raising their charges.

Danica CEO Per Klitgård | Photo: PR

Prices are going up at Danica, both for corporate pension customers and for employee insurance against loss of earnings capacity and other risks.

Whereas price increases have previously been about 30 percent, Danish business daily Børsen has reported an example of Danica's charges jumping by  between 50 and 66 percent this time around.

Danica CEO Per Klitgård tells Børsen he expects the other pension providers to follow suit. However, neither SEB nor PFA intend to ratchet up their prices for health and accident insurance – a product area reported to be a major source of deficit for the companies. Nordea Liv & Pension is not raising its prices either, Børsen writes.

"Maybe I should be worried, but I'm not. For me, it's about not compromising the quality of our products. We have some health solutions that are unique to us, and I think that’s something our customers appreciate," Per Klitgård tells Børsen, adding that he still believes in growth.

After a first half year of massive growth, pension contributions in Q3 in Denmark have declined by 9.8 percent to DKK 5.5 billion (EUR 672 million) compared to the same period last year, while contributions for all of the Nordic region have risen by 2.3 percent.

English Edit: Marie Honoré

More from AMWatch

The ESG market is controlled by a few big investors

Finland's largest investor holds 62 percent of shares of multi-trillion ETFs offered by iShares and 64 percent of Xtrackers' equivalent offering. Having a few investors dominating ownership in this way is not good for the vehicles' liquidity and could be a big challenge facing the sector.

"We continue to see further growth in our Nordic book of business"

DECEMBER SERIES: What were the most important developments at some of the global asset managers present on the Nordic market in 2021, and what are their expectations for the coming year? AMWatch's December series is kicked off by Head of Nordics at State Street Global Advisors, Arnaud Bruyneel. 

Further reading

Latest news


Latest news from FinansWatch (dk)

Latest news from EnergyWatch

Latest news from ShippingWatch