Major Milestone: Topdanmark Is Now Part of If

07-01-2025, 06:38

July 1 marks a significant milestone: Topdanmark is now officially part of If, the largest insurance company in the Nordics. With the integration, two strong companies are united under a single Nordic structure, operating under the name If. The merger will not affect customers' insurance policies and coverage – they will continue to have the same high-quality coverage and services.

With this integration, If becomes Denmark’s second-largest insurance provider, holding a market share of approximately 21 percent and a leading position in several segments – such as health insurance for corporate clients.

“This is a major milestone, and the integration of Topdanmark is now complete. We now stand on a stronger foundation than ever to support our customers. Our goal is to be there when it truly matters and to offer stable and reliable insurance that creates real value in everyday life – for individuals, businesses, and society as a whole,” says Morten Thorsrud, CEO of If.

“Our customer promise is to help a lot"
In September 2024, the insurance group Sampo launched a takeover bid for Topdanmark with the aim of integrating the company into If, which Sampo already owns. In May, Sampo raised its synergy expectations from the integration to €140 million before tax up from the previous estimate of €95 million. These synergies will be invested in areas such as digitalization, where If plans to invest DKK 1 billion annually in new and improved IT systems over the next five years.

“Our customer promise is to help a lot – and in doing so, create even more satisfied customers. We want to make it easy to be a customer in Denmark, and we’re seeing increasing demand for digital solutions. That’s why our ambition is that within five years, 80 percent of the tasks customers need to complete can be done digitally. At the same time, it will still be possible to receive personal assistance and speak with one of our many employees when needed – because we know that direct contact remains important for many,” says Morten Thorsrud.

If’s Danish headquarters will now be in Ballerup, where Topdanmark has already been based. Around 2,600 employees from both companies will be brought together there over the course of the year.

Facts about If: The Leading Nordic Insurance Group