Alm. Brand - Alm. Brand A/S - Interim report for Q4 2025

Alm. Brand A/S - Interim report for Q4 2025

January 29, 2026

Sustained positive development in underlying business in both Personal Lines and Commercial Lines secures strong finish to the strategy period

The insurance service result for Q4 2025 was a profit of DKK 521 million (Q4 2024: DKK 440 million), equivalent to a combined ratio of 82.4 (84.5), driven by favourable developments in Personal Lines
Insurance revenue grew by 4.6% to DKK 2,976 million (DKK 2,845 million), driven in particular by strong premium growth of 9.8% in Personal Lines
The undiscounted underlying claims ratio declined by 3.0 percentage points to 60.8 (63.8), driven by a favourable trend in both Personal Lines and Commercial Lines due to the effects of profitability-enhancing measures and realised synergies
The expense ratio fell to 17.1 (18.0), reflecting the group’s aim of reducing insurance operating expenses
The implementation of the synergy initiatives progressed according to plan and generated a positive accounting effect of DKK 164 million in Q4 2025 (DKK 138 million)
Satisfactory investment result of DKK 73 million (DKK 74 million)
The consolidated profit before tax was DKK 440 million (DKK 289 million)

Full-year performance

The insurance service result came to DKK 1,913 million (2024: DKK 1,443 million), equivalent to a combined ratio of 83.7 (87.0), driven by improved underlying claims and expense ratios
Insurance revenue increased by 6.4% to DKK 11,790 million (DKK 11,083 million), driven in particular by strong growth of 9.7% in Personal Lines, while the sustained focus on generating profitable growth among large commercial customers resulted in more moderate growth of 2.9% in Commercial Lines
The expense ratio fell to 17.0 in 2025 (18.3) in line with the planned trajectory
The consolidated profit before tax and excluding special costs was DKK 2,119 million in 2025 (DKK 1,747 million)
The Board of Directors recommends that an ordinary dividend of DKK 0.66 per share be paid in respect of the 2025 financial year. In addition, the group is planning to initiate a new share buyback programme for an amount of DKK 1.5 billion, of which DKK 1.0 billion is extraordinary. The share buyback programme is expected to be initiated in the first half of 2026. Alm. Brand Group thus expects to effect a total distribution of DKK 2.4 billion in 2026.
Alm. Brand Group has received an indication from the company’s majority shareholder, Alm. Brand Foreningen 1792, that it intends to participate proportionately in the share buybacks. Alm. Brand Foreningen 1792 currently holds 47.4% of the shares in Alm. Brand A/S when adjusting for shares already acquired by Alm. Brand A/S for the purpose of subsequent cancellation.

Rasmus Werner Nielsen (CEO) on the Q4 financial results:

“We recorded a satisfactory year in 2025, in which we welcomed many new customers and helped our customers with more than a thousand claims each day. It is imperative to us to be there for our customers in a time of substantial turmoil and uncertainty.

Our Q4 performance marks a strong finish to 2025, supported by sustained strong growth in Personal Lines and a favourable trend in the underlying business. The performance reflects our dedicated work to become an even more efficient and competitive group for the benefit of our customers and shareholders. We thus have a robust platform for our new strategy period, in which we aim to unfold our still great potential and make it even more simple to be a customer of Alm. Brand Group.

Due to Alm. Brand Foreningen 1792 being our principal shareholder, our strong financial results will enable the association to distribute funds for the benefit of customers and society at large. For 2026, the association has committed to reinvesting DKK 185 million in Alm. Brand Group. DKK 100 million of this amount will be spent on launching our new loyalty programme. This will create added value for our customers and contribute to further improving the group’s competitive strength.”

This interim report and related materials are available at Alm. Brand Group’s investor website: Q4 2025

Webcast and conference call
Alm. Brand will host a conference call for investors and analysts today, Thursday 29 January 2026 at 11:00 a.m. The conference call and presentation will be available on Alm. Brand Group’s investor website:

Conference call dial-in numbers for investors and analysts (PIN: 465218):

United Kingdom: +44 20 3936 2999
USA: +1 646 233 4753
Denmark: +45 89 87 50 45

Link to webcast: https://events.q4inc.com/attendee/214538468

Contact
Please direct any questions regarding this announcement to:

Investors and equity analysts:

Head of Investor Relations & ESG
Mads Thinggaard
Mobile no. +45 2025 5469

Press:

Head of Communications and Media Relations
Mikkel Luplau Schmidt
Mobile no. +45 2052 3883

Attachments

Categories: Press Releases

View all news

Disclaimer

The information contained in this section of Alm. Brand A/S (the "Company") web page that you are attempting to access is not intended for, and must not be accessed by, or distributed or disseminated, directly or indirectly, in whole or in part, to persons resident or physically present in the United States of America (including its territories and possessions, any state of the United States and the District of Columbia, together, the "United States"), Canada, Australia and Japan, or any jurisdiction where to do so might constitute a violation of the local securities laws or regulations of such jurisdiction, and does not constitute an offer to sell or the solicitation of an offer to buy or acquire, any shares or other securities of the Company in the United States, Canada, Australia, Japan or any jurisdiction where to do so might constitute a violation of the local securities laws or regulations of such jurisdiction.

The shares of the Company referred to herein and on the following web page (the "Shares") have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "Securities Act") or with any securities regulatory authority under any applicable securities laws of any state, province, territory, county or jurisdiction of the United States or any other restricted jurisdiction. The Shares may not be offered, sold, resold, pledged, taken up, exercised, renounced, transferred, delivered or distributed, directly or indirectly, in or into the United States absent registration, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and in compliance with any applicable state and other securities laws of the United States, or any other restricted jurisdiction. No public offering of the Shares is being, has been or will be made in the United States. Any Shares sold in the United States will be sold only to persons reasonably believed to be qualified institutional buyers (as defined in Rule 144A under the Securities Act) in reliance on Rule 144A under the Securities Act. The information contained herein and on the following web page does not constitute, and should not be construed as, an offer to sell or solicitation of an offer to buy any of the Shares in the United States, "general solicitation or general advertising" under Rule 502(c) of Regulation D under the Securities Act or "directed selling efforts" under Regulation S of the Securities Act.

The Shares have not been approved or disapproved by the U.S. Securities and Exchange Commission, any state securities commission in the United States or any other regulatory authority in the United States, nor have any of the foregoing authorities passed comment upon, or endorsed the merit of, the Shares or the accuracy or the adequacy of the information contained herein and on the following web page. Any representation to the contrary is a criminal offence in the United States.

The Shares have also not been, and will also not be, registered under the applicable securities laws of Canada, Australia or Japan and, subject to certain exemptions, may not be offered or sold in or into or for the account or benefit of any person having a registered address in, or located or resident in Canada, Australia or Japan.

Access to the information and documents contained on the following web page may be illegal in certain jurisdictions, and only certain categories of persons may be authorized to access such information and documents. All persons residing outside of Denmark who wish to have access to the documents contained on the following web page should first ensure that they are not subject to local laws or regulations that prohibit or restrict their right to access the following web page or require registration or approval for any acquisition of securities by them. No such registration or approval has been obtained outside Denmark. The Company assumes no responsibility if there is a violation of applicable law and regulations by any person.

No information included on the following web page should be used by investors in forming their investment decision as to an investment in the Shares.

By clicking on the [“Accept”] button below, you certify that (i) you have read and understood the foregoing and (ii) you are not restricted by the laws of your country of residence or any other law to which you are subject to access the following web page.

Accept Decline

Company Announcement Details

Alm. Brand A/S - Interim report for Q4 2025

Disclaimer