Alm. Brand's 2026 AGM approved a DKK 0.66 per share dividend, a DKK 48M capital reduction, board re-elections, and EY's reappointment as financial and sustainability auditor.

Alm. Brand A/S, one of Denmark's leading non-life insurance groups, has reported that shareholders approved all proposed resolutions at its 2026 Annual General Meeting, held on Wednesday, April 9, 2026. Communicated to the market as announcement number 18 of 2026, the results confirm approval of the company's 2025 annual report, the discharge of the Board of Directors and Executive Management, a dividend of DKK 0.66 per share for 2025 (corresponding to a total dividend payout of DKK 933 million), the adoption of the remuneration report and policy, a treasury share authorization extending to 30 April 2027 with a limit of up to 10 percent of share capital, the re-election of all shareholder-elected board members, and a proposed reduction of share capital by a nominal amount of DKK 48,000,000 from DKK 1,453,000,000 to DKK 1,405,000,000 at an average price of DKK 16.9 per share. Jais Valeur was elected as Chairman of the Board, with Jan Skytte Pedersen continuing as Deputy Chairman, and EY was reappointed as the company's auditor as well as sustainability auditor for the upcoming reporting period.

Approval of the 2025 Annual Report and Discharge of Management

The approval of the 2025 annual report by shareholders represents a formal acceptance of the company's financial statements and the report of the Board of Directors on the company's performance during the year. Alongside this approval, the meeting granted discharge to the Board of Directors and the Executive Management from liability for their actions during 2025, a standard feature of Danish corporate governance that signals shareholder confidence in the stewardship of the company. These resolutions provide a firm foundation for the year ahead and confirm that management's decisions during the previous year are not subject to challenge or dispute from the shareholder base. For Alm. Brand, which operates in a regulated insurance sector and is subject to rigorous supervisory oversight, the endorsement of its financial reporting and governance framework through these standard AGM resolutions is an important annual milestone that reinforces the company's relationship with its owners and its broader commitment to transparent corporate governance.

Dividend Distribution of DKK 0.66 Per Share

A key topic of interest at the AGM was the proposed distribution of a dividend of DKK 0.66 per share for the 2025 financial year, which shareholders approved. The total dividend payout amounts to approximately DKK 933 million, with the remaining profit transferred to the company's distributable reserves for use in future capital allocation decisions. For Alm. Brand shareholders, the dividend represents an important component of the overall return from the investment, complementing potential capital gains over time. Danish listed companies place significant emphasis on dividend distributions as part of their shareholder return framework, and the decision to propose and approve a meaningful dividend reflects the Board of Directors' assessment that the company's financial position and performance support the distribution. The balance between dividend payments and retained earnings is a key consideration in capital allocation, and Alm. Brand's decision to distribute a substantial portion of profits while also retaining capital for the business reflects its balanced approach to financial management and long-term value creation.

Remuneration Report and Policy

At the AGM, shareholders adopted the 2025 remuneration report at an advisory vote and approved the company's remuneration policy, providing clear endorsement of the framework under which executive and board compensation is determined. Remuneration reports have become an increasingly important feature of the annual general meeting cycle for listed European companies, as regulators and investors have placed greater emphasis on transparency and alignment between pay and performance. Alm. Brand's approval of the remuneration items reflects shareholder comfort with the company's approach to executive pay and its consistency with industry norms. The remuneration policy sets out the principles governing the compensation of executives, including fixed pay, variable compensation, long-term incentives, and benefits, ensuring that these elements are aligned with the company's strategy, risk profile, and shareholder interests. Ongoing dialogue between the company and its shareholders on remuneration matters is a key part of maintaining best-in-class corporate governance practices.

Treasury Share Authorization

The AGM also approved an authorization for the Board of Directors to allow the company to acquire treasury shares until 30 April 2027, within a limit of up to 10 percent of the share capital. Treasury share authorizations are a standard feature of many listed company AGMs and provide the board with the flexibility to execute share buybacks when market conditions and the company's financial position make such actions appropriate. For Alm. Brand, this authorization complements the dividend distribution as part of the overall capital return framework and provides additional tools for managing the balance sheet and returning excess capital to shareholders. Share buyback programs can signal management confidence in the company's valuation, support earnings per share growth by reducing the number of shares outstanding, and offer flexibility in managing the capital structure. The authorization does not commit the company to any specific buyback activity but provides the option for the board to act as appropriate over the coming year during the authorization period.

Board Re-Elections and Governance Continuity

All board members elected by shareholders were re-elected at the 2026 AGM, providing continuity in the governance of the company. The re-election of the board signals shareholder confidence in the current leadership and direction of the company, and it ensures that the experience and institutional knowledge of existing directors will continue to guide Alm. Brand through the year ahead. Jais Valeur was elected as Chairman of the Board at a subsequent board meeting, taking on the leadership role for the coming term. Jan Skytte Pedersen continues as Deputy Chairman, providing additional continuity in the board's senior leadership. In addition to re-electing board members, the meeting approved the remuneration of the Board of Directors for 2026, confirming the framework for compensating directors for the responsibilities they assume in overseeing the management of the company. Board composition, leadership, and compensation are central elements of corporate governance, and the resolutions approved at the AGM collectively reinforce the foundation on which Alm. Brand's governance is built.

Share Capital Reduction

A notable item approved at the AGM was the Board of Directors' proposal to reduce the share capital by a nominal amount of DKK 48,000,000, decreasing the company's share capital from DKK 1,453,000,000 to DKK 1,405,000,000. The capital reduction will be effected at an average price of DKK 16.9 per share, in connection with the cancellation of shares previously repurchased by the company through its buyback program. Share capital reductions through the cancellation of treasury shares are a routine capital management technique for listed companies that have completed share buyback programs. By canceling the repurchased shares, the company reduces the total number of shares outstanding, supporting earnings per share and providing efficient capital deployment. The approval of the capital reduction was accompanied by an amendment to the company's articles of association to reflect the new share capital figure, ensuring that all constitutional documents are updated to match the revised corporate structure following the reduction.

Appointment of Auditors

EY was reappointed as the company's auditor for the coming year, continuing the relationship with one of the world's largest professional services firms. In addition, EY was appointed as Alm. Brand's sustainability auditor, reflecting the growing importance of sustainability reporting and assurance for European listed companies under the evolving framework of the Corporate Sustainability Reporting Directive and related European Union standards. The combined financial and sustainability audit role enables EY to take an integrated approach to auditing Alm. Brand's annual report, including both financial statements and sustainability disclosures. This integrated approach supports consistency, efficiency, and a coordinated view of the company's reporting. Audit appointments are subject to shareholder approval at each AGM, and the renewal of EY's mandate reflects shareholder confidence in the firm's ability to provide independent, high-quality assurance on Alm. Brand's reporting.

About Alm. Brand

Alm. Brand is a Danish financial services group with a long history dating back to the 18th century. Over its centuries of operation, the group has built a strong position in the Danish non-life insurance market and has become one of the leading insurance providers in Denmark. The company offers a wide range of products and services to private customers, small and medium-sized businesses, and corporate clients, covering property, liability, accident, motor, and other insurance categories. Alm. Brand has undergone significant transformation in recent years, refocusing on its core non-life insurance activities and divesting non-core operations. The acquisition of the Danish non-life business of Codan in 2022 was a major strategic milestone that substantially increased the scale of Alm. Brand's insurance operations and consolidated its position as one of the top insurance companies in Denmark. The company is listed on Nasdaq Copenhagen and maintains a large and diversified shareholder base of both Danish and international investors.

Danish Insurance Market Context

The Danish insurance market is one of the most developed in Europe, characterized by high insurance penetration, strong consumer protection regulations, and a competitive landscape with several large insurance groups. Non-life insurance products such as property, motor, and liability coverage are widely used by Danish households and businesses, reflecting the well-established risk management culture and the strong institutional framework governing the sector. Key competitors in the Danish non-life insurance market include Tryg, Topdanmark, and Gjensidige, each of which has a meaningful presence in the country. Consolidation has been a recurring theme in the sector, as insurance groups seek to achieve scale, operational efficiency, and pricing power in a mature market. Alm. Brand's position following its transformation and the Codan acquisition places it among the top players in the market, and its continued focus on underwriting discipline, customer experience, and digital capabilities will be important in sustaining its competitive position going forward during the coming years.

Strategic Context and Outlook

The 2026 AGM provides a moment of reflection on Alm. Brand's strategic journey and the ongoing execution of its business plan. Following the transformational acquisition of the Danish non-life business of Codan and the divestment of non-core operations, Alm. Brand has become a focused non-life insurance group with clear strategic priorities. The company's management team is focused on delivering operational efficiency, leveraging scale from the combined business, improving customer experience, and generating attractive returns for shareholders. Capital allocation priorities include supporting the ongoing business, maintaining regulatory capital requirements, investing in technology and transformation initiatives, and returning excess capital to shareholders through dividends and buyback programs. The resolutions approved at the AGM, including the dividend distribution, treasury share authorization, and capital reduction, collectively support this strategic direction and provide the board and management with the tools they need to continue executing the company's plans.

Contact and Investor Relations

Alm. Brand maintains an active investor relations function led by Mads Thinggaard, Head of Investor Relations, who serves as a key contact for institutional investors, analysts, and other stakeholders seeking information about the company's financial performance, strategy, and governance. The company communicates with the investment community through annual and interim financial reports, investor presentations, capital markets days, and regular engagement with analysts and portfolio managers. The publication of the AGM results provides another data point for investors to consider when evaluating Alm. Brand's governance and corporate decision-making. In a competitive market for investor attention and capital, consistent communication, transparent reporting, and clear strategic direction are essential to maintaining strong relationships with the investment community and supporting the company's valuation. Alm. Brand's approach to investor relations reflects its commitment to these principles and its long-term orientation toward its shareholder base.

Conclusion

The successful passage of all resolutions at Alm. Brand's 2026 Annual General Meeting, including the DKK 0.66 per share dividend, the treasury share authorization, the DKK 48 million share capital reduction, the re-election of the board under Chairman Jais Valeur and Deputy Chairman Jan Skytte Pedersen, and the reappointment of EY as both financial and sustainability auditor, collectively reflect strong shareholder support for the company's governance framework and strategic direction. Against the backdrop of a competitive Danish insurance market and a broader European insurance landscape, Alm. Brand continues to execute on its plan as a focused non-life insurance group. The orderly conduct of the AGM and the approval of all items put to a vote underscore the strength of the company's relationship with its shareholder base and the clarity of its capital allocation framework as it moves forward into 2026 and beyond with a clear mandate from its owners to execute on its long-term strategic priorities and commitments.