Alm. Brand - Debt

Rating

Alm. Brand Forsikring A/S and Alm. Brand A/S are rated by the international credit rating agency: Moody's.

Alm. Brand Forsikring A/S operates under the four brands: Alm. Brand, Codan, Privatsikring and Erhvervssikring.

Company	Rating Type	Moody's
Alm. Brand Forsikring A/S	Insurance Financial Strength Rating	A2/Stable
Alm. Brand A/S	Long Term Issuer Default Rating	Baa1/Stable
Alm. Brand A/S	Restricted Tier-1, Issue rating	Baa3(hyb)
Alm. Brand A/S	Tier-2 Subordinated Notes, Issue rating	Baa2(hyb)

The bond issues of Alm. Brand Group follow VP's rules in force at all times.

Latest rating commentary:

Moody's has published Alm. Brand’s A2 rating in august 2025 with 'stable outlook'.
Link

Material in relation to Restricted Tier 1 and Tier 2 notes transaction: