Alm. Brand to acquire Danish business of Codan from Tryg and Intact Financial at a $2bn valuation.

Alm. Brand, a non-life insurance company, agreed to acquire Danish business of Codan, an insurance broker, from insurance companies Tryg and Intact Financial, at a $2bn valuation. “We will create Denmark’s second-largest non-life insurance company and combine the best of both companies under one roof. The acquisition brings together two well-reputed insurance companies in a transaction that will create a single major and strong Danish insurance group with more than 700k customers and a clear ambition of providing best-in-class solutions for our customers," Rasmus Werner Nielsen, Alm. Brand CEO.