Alm. Brand A/S to Implement A Number of Changes Intended to Unlock the Full Potential of the Alm. Brand for the Customer Strategy; to Reduce Its Headcount by 120 Employees; Announces Management Changes; Recommends Distribution of an Ordinary Dividend for the Year 2019
January 30, 2020 at 02:25 am EST
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Effective from January 30, 2020, Alm. Brand A/S will implement a number of changes intended to unlock the full potential of the Alm. Brand for the Customer strategy. A new customer-oriented organisation divided into Private and Commercial across all of the group's three business areas will be established. At the same time, development activities are being combined in a single organisation, which will be able to quickly and more efficiently deliver new digital solutions that make it easy and attractive to be a customer of Alm. Brand. The initiatives also include measures to reduce the group's costs with effect immediately.
In connection with the establishment of the new organisation, the number of full-time equivalents in Alm. Brand will be reduced by 120. Most redundancies will be effected at the group's head office, including in the bank.
Following the establishment of the new organisation, group management will be composed as follows: interim Chief Executive Officer Rasmus Werner Nielsen; Executive Vice President, Private Rasmus Lynge; Executive Vice President, Commercial Kim Bai Wadstrøm; Executive Vice President, Business Development & Digitalisation (COO) Kristian Hjort-Madsen; and Executive Vice President, Finance (CFO) Andreas Ruben Madsen.
The Board of Directors recommends distribution of an ordinary dividend of DKK 3.00 per share. This means that Alm. Brand will distribute approximately DKK 460 million for the 2019 financial year, corresponding to a payout ratio of 102% of the profit after tax.
ALM. Brand A/S is a Denmark-based holding company engaged in the provision of insurance and financial services. The Companyâs activities are divided into three business areas: non-life insurance, which offers a range of insurance products, which focus primarily on the personal, commercial and agricultural segment; banking, providing deposit and lending products, pensions and home finance, as well as investment consultancy; and life insurance and pension, which provides corporate pension plans, pension savings, as well as insurance cover, including death, disability and critical illness cover. It operates a number of sales centers and branches across Denmark. Furthermore, the Company is a parent of Alm Brand Forsikring A/S, Alm Brand Praemieservice ApS, Alm Brand Bank A/S, Forsikringsselskabet Alm Brand Liv og Pension A/S, and Alm Brand Leasing A/S, among others.
Alm. Brand A/S to Implement A Number of Changes Intended to Unlock the Full Potential of the Alm. Brand for the Customer Strategy; to Reduce Its Headcount by 120 Employees; Announces Management Changes; Recommends Distribution of an Ordinary Dividend for the Year 2019
ALM. BRAND A/S 
