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Danica chief holds firm on growth outlook despite insurance price hikes

Danica has upped its prices for customers' health and accident insurance. The CEO believes in growth for Danica, even though competitors are not raising their charges.

Danica CEO Per Klitgård | Photo: PR

Prices are going up at Danica, both for corporate pension customers and for employee insurance against loss of earnings capacity and other risks.

Whereas price increases have previously been about 30 percent, Danish business daily Børsen has reported an example of Danica's charges jumping by  between 50 and 66 percent this time around.

Danica CEO Per Klitgård tells Børsen he expects the other pension providers to follow suit. However, neither SEB nor PFA intend to ratchet up their prices for health and accident insurance – a product area reported to be a major source of deficit for the companies. Nordea Liv & Pension is not raising its prices either, Børsen writes.

"Maybe I should be worried, but I'm not. For me, it's about not compromising the quality of our products. We have some health solutions that are unique to us, and I think that’s something our customers appreciate," Per Klitgård tells Børsen, adding that he still believes in growth.

After a first half year of massive growth, pension contributions in Q3 in Denmark have declined by 9.8 percent to DKK 5.5 billion (EUR 672 million) compared to the same period last year, while contributions for all of the Nordic region have risen by 2.3 percent.

English Edit: Marie Honoré

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