Danish pension association joins new maritime partnership

Insurance and Pension Denmark (I&P Denmark) has joined a new maritime partnership in the country, with the pensions industry ready to support the ramping up of the country’s defence solutions.

In the next 20-25 years, Denmark will invest up to DKK 40bn in new and modern vessels. The government, together with I&P Denmark and a number of other organisations, has established a new national maritime partnership.

Part of the partnership's mission is also to look at new solutions and collaboration opportunities. In the terms of reference for the partnership, it appears that it is central to safeguard Denmark's national critical maritime competencies by building and maintaining a national shipbuilding capacity in Denmark.

Among other things, the pension industry will contribute with proposals for new forms of cooperation and possible financing, I&P Denmark said.

I&P Denmark CEO, Kent Damsgaard, said: "With the new and very uncertain security situation in Europe, there is a political desire to significantly strengthen the Armed Forces. This applies not least to the maritime area. The political ambition is for us in Denmark to design, maintain and build our own vessels.

“It is a very large and challenging task that can be solved across the public sector, business and financial institutions. In the pension industry, we would like to contribute to finding new collaboration opportunities and ideas to solve the task. This also applies to the financing conditions.”

Danish pension companies in I&P Denmark manage around DKK 4,000bn of Danish pension assets.

"Our industry is rooted in Denmark, we are subject to Danish and European regulation and supervision, and we invest long-term on behalf of virtually all Danes. In this way, the pension industry is a solid and credible partner for the state and for the business community,” Damsgaard said.

Part of the partnership's task is to look at how climate technology can help give the Armed Forces a greener profile, which the association is another area where the pensions industry can help.

"Pension companies have gradually built up considerable experience with green investments and green transformation, which can be used in the development of the maritime defence. This applies to wind turbines, solar cells, sustainable construction and several new technologies within renewable energy in both Denmark and the rest of the world,” Damsgaard said.

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