Danish pension provider Danica Pension made a profit of DKK 1.4bn in the first nine months of 2024 up from DKK 922m for the same period last year, its interim results reveal.

Over the first three quarters of 2024, there was a 10 per cent growth in contributions, while a typical customer has received a return of 12.3 per cent.

"The first nine months of the year have been good for our customers, who have received a significant boost to their savings through high returns. At the same time, it is quite satisfactory that we have delivered a profit of DKK 1.4bn and growth of 10 per cent," Danica Pension CEO, Mads Kaagaard, said

Customers with medium risk and 20 years to retirement received a return of 12.3 per cent in the first nine months, which is the second highest of all commercial companies.

In total, Danica Pension's investments have generated a return to customers totalling DKK 28bn in the first nine months of the year.

"We continue to deliver high returns to our customers because we have an investment strategy that works in the long term. Our equity investments have outperformed the comparable world index for a long time, and with falling interest rates, the bond side has also had favourable conditions,” Kaagaard said.

“The past five years have seen many sharp fluctuations in the markets, but despite this, a typical customer has received a return of 43.7 per cent on their savings, which gives them a good basis for a secure financial future.”

In addition, over the period contributions grew by 10 per cent compared to the same period last year from DKK 29,458m to DKK 32,483m driven by a net increase of 3,134 new corporate and self-employed customers.

"Right now, there is more competition for tenders than ever before, which is why I'm very happy to get so much positive feedback from existing and new corporate customers. Our role is to lay a good foundation for their employees' finances, health and future, and we have a very strong position in the market," Kaagaard said.

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