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Danica Pension

Danica Pension is Denmark's leading and largest life and pension company in terms of premium income and assets and has over 150 years of experience in the life and pension market. Danica Pension, which is part of the Danske Bank Group, a diversified financial services company, specialises in pension and employee benefits schemes, life insurances and health insurances and has 600,000 clients. Danica Pension offers its clients additional savings and credit facilities via Danske Bank and non-life insurances via Danske Forsikring.

Danica Pension is also represented abroad through its subsidiaries, Danica Pension in Sweden, Danica Pensjon in Norway and Danica Life in Ireland.

Danica Pension is the only life and pension company in Denmark to have a rating. Danica Pension is rated A+ by Standard & Poor's, which is the highest rating of any pension company in the Nordic countries.

The company's service concept is very popular amongst corporate clients. Danica Pension offers e.g. individual advice including needs analysis, status meetings, senior courses, pension seminars for decision-makers, advice on expatriation, health insurances, assistance from our net of social security advisers and a range of web solutions. A service agreement is prepared in cooperation with the corporate including expectations to both parties, procedures and Danica Pension�s processing time.

The products are marketed primarily through Danica Pension�s nation-wide team of insurance agents, senior consultants and pension advisors and through Danske Bank's branch network. Danica Pension has a full-time staff of 950.

In 2008, premiums received by the Danica group, including health and accident insurance, amounted to DKK 21.9bn - an increase of 16% compared to 2007. Total assets amounted to DKK 242bn in 2008.

Danica Pension er Danmarks førende og største pensionsselskab målt på bruttopræmier og aktiver. Danica Pension, der er en del af Danske Bank koncernen, er specialist i pensionsordninger, livsforsikringer og sundhedsforsikringer og har godt 600.000 kunder. Danica Pension tilbyder også sine kunder supplerende opsparings- og lånemuligheder gennem Danske Bank, ligesom Danica Pension sælger skadesforsikringer via Danske Forsikring.

Danica Pension er også repræsenteret i udlandet gennem datterselskaberne, Danica Pension i Sverige, Danica Pensjon i Norge og Danica Life i Irland.

Danica Pension er det eneste pensionsselskab i Danmark, der har en rating. Standard & Poor�s har rated Danica Pension A+, den højeste rating blandt pensionsselskaber i Norden.

Danica Pensions servicekoncept er meget populært hos firmakunderne. Danica Pension tilbyder bl.a. sine kunder individuel rådgivning herunder behovsanalyse, statusmøder, seniorseminarer, pensionsseminarer for beslutningstagere, rådgivning ved udstationering, sundhedsforsikringer, socialrådgiverfunktion samt flere internetløsninger. En serviceaftale udarbejdes i samarbejde med virksomheden/kunden indeholdende forventninger til begge parter, forretningsgange og Danica Pensions ekspeditionstider.

Produkterne sælges primært gennem Danica Pensions landsdækkende korps af assurandører, chefkonsulenter og pensionsrådgivere og via Danske Banks filialnet. Danica Pension har 950 medarbejdere.

I 2008 udgjorde Danica koncernens pensionsindbetalinger inkl. syge- og ulykkesforsikringer 21,9 mia. kr. � en stigning på 16 % sammenlignet med 2007. Aktiver i alt udgjorde 242 mia. kr. i 2008.

While the market continues to be dominated by defined contribution schemes, flex plans have become increasingly popular. Here, instead of the traditional route of pre-fixed levels of death, disability and retirement benefits/contributions above a core level of basic risk benefits, the employee has considerable flexibility in determining the actual form and level of benefits to be provided.

The choice of benefits has also broadened with a steadily increasing interest in health and critical illness insurance. 850,000 Danes had concluded a health insurance by the end of 2007, of which 9 out of 10 insurances were paid by the employer. The positive trend is a result of the amendment to an act enacted by the Danish Parliament in 2002 which means that all employees of a company must be covered by the health insurance for the employees to obtain the tax advantages stated in the act. This means that unskilled and skilled workers are now covered to almost the same extent as salaried employees with a higher education. In addition, more and more life and pension companies focus on prevention of claims rather than just paying out the insurance benefit. The companies offer different programmes on how to become healthier, and some even offer a discount on the health insurance if a company�s (client) health score (total health score of the staff of the company) is higher than the average of companies.

The interest in market yield products continues to grow in Denmark, too. Contrary to the traditional insurance product where fixed interest rates are guaranteed, more and more Danes opt for market yield products where they can choose between different investment profiles or where the investment profile is adjusted to the person�s age and life situation. The yield of such pension schemes is in accordance with the yield of the underlying investments in equities, bonds, etc. A yield guarantee can be linked to some market yield products, typically a zero-yield-guarantee, which means that a capital loss does not influence the pension scheme as the yield guarantee will kick in.

Market yield products

Since its introduction in 2001, Danica Pension's unit-link product, "Danica Link" has recorded sound growth. Investment is now possible in up to 43 investment funds ranging from specialist funds to discretionary managed funds. These funds are managed by 13 different investment managers. A major feature of Danica Link is the ability - a first in the Danish market - for investors to make immediate transactions via the internet, and the investor has full access to his/her portfolio via Danske Netbank.

In May 2005, Danica Pension launched a new savings product, Danica Balance. Danica Balance makes it easy as well as safe for clients to save up for retirement. If the client chooses Danica Balance, Danica Pension will manage his/her retirement savings without the client having to do anything. Investment is made in equities and bonds considering the date of retirement of the individual client and the client's acceptance of risk. The younger the client is, the more equities, and the closer retirement date gets, the more bonds. In this way the client's investment is balanced in relation to age which gives the client the possibility of an optimum yield. A guarantee can be attached to the scheme.

Danica Sundhedsfremmer (Danica Health Promotion)

Danica Sundhedsfremmer, a product focusing on real prevention of illness among employees, was introduced towards the end of 2008. Danica Sundhedsfremmer steps in before the damage is done, so to speak - to the benefit of companies in the form of fewer absences and the employees in the form of fewer health problems and resulting days off. With Danica Sundhedsfremmer there is a good chance that many employees can avoid treatment altogether. This may have the effect that Danica Sundhedssikring will be used less. Therefore, companies with Danica Sundhedssikring will be granted a discount if they adopt a preventive approach with Danica Sundhedsfremmer. The discount is granted if at least 50 % of the employees take part in a health check and turn out to be at least 5 % healthier than an average company. The discount will apply to all the company�s employees, regardless of whether they participate in the health check.

"PensionsInfo" offers an overall view of pensions

A new survey shows that the 5.4 million Danes have altogether over 18 million private pension schemes. This means that on average each Dane over the age of 20 has 4 pension schemes. To this can be added "Efterløn" (early retirement pay designed for older employees who wish to leave the labour market - subject to certain conditions), old age pension and public early retirement pension. To offer the Danes the possibility of an overall view of their pension schemes including risk insurances all Danish pension funds, life and pension companies, banks, ATP (The Danish Labour Market Supplementary Pension Scheme) and the State Employer's Authority have agreed on the development of the website called PensionsInfo (www.pensionsinfo.dk). With PensionsInfo consumers have safe and easy access to an overview of their various pension schemes.

PensionsInfo was launched in May 2007. By August 2008, 300,000 Danes had logged onto the website.