Danish pension company Danica reported a profit before tax of DKK 1.4bn for the first three quarters of 2026, a “significant” improvement on the DKK 1.1bn profit in the same period last year, its interim results have revealed.

At the same time, Danica’s total pension assets under management at the end of quarter three stood at DKK 550bn, an increase of 10 per cent compared to the same time in 2025.

Danica said the result was driven by healthy and stable development, with solid growth in key areas, a balanced performance in the health and accident insurance segments, and strong returns for customers.

In the first nine months of the year, Danica also delivered strong returns on its customers’ pension savings.

The return on the Danica Balance Mix product for a typical customer with medium risk and 20 years to retirement was 9.6 per cent in the first three quarters of 2026, an increase from 4.7 per cent return over the same period last year.

Danica also highlighted that the adjustment in spring of the investment strategy for Danica’s most widely used pension product, Danica Balance, has had a positive effect for customers, with the product returning almost 13 per cent since the end of March.

However, customers with Danica Pension Traditional product received a return of 0.9 per cent in the first three quarters of 2026, a decrease from the 1.8 per cent return in the same period last year.

Danica chief executive officer, Mads Kaagaard, described the results as satisfactory in a highly competitive market.

“This year, we have secured very good returns for customers at a time of great unrest in the world and therefore also many fluctuations in the investment markets,” Kaagaard said.

“And I am very pleased that our adjustment of Danica Balance has already benefited the customers so clearly.”

The results also showed that after high growth in previous years, Danica is growing more moderately, with total payments up 4 per cent in the first nine months of 2026.

Overall, payments were DKK 40bn in the first three quarters of 2026, an improvement when compared to the first three quarters of 2025 when the return was DKK 38.4bn.

Mads Kaagaard emphasised that Danica prioritises sound and profitable growth and long-term, stable partnerships.

He highlighted a strong increase in the number of customers among small and medium-sized enterprises and the strengthened collaboration with Danske Bank as some of the main reasons for the positive trend in results.

"The collaboration with Danske Bank is an important growth engine for Danica. Sales of Danica products through the bank have more than doubled in the past three years and brings us many new customers,” Kaagaard said.

“Customers are increasingly demanding a complete solution with banking, pension, health and advice gathered at one financial partner, and the unique collaboration with Danske Bank enables us to meet that wish.”

The results also showed that Danica’s health and accident insurance area result for the first nine months of 2026 was a surplus of DKK 117m. This consists of a surplus of DKK 43m from the insurance business and a positive investment result of DKK 74m.

Kaagaard explained that this development is the result of a very deliberate strategy to invest heavily in prevention.

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