Denmark's Danica saw continued growth in pension payments in 2025, which rose by 22 per cent to DKK 53.3bn, exceeding DKK 50bn for the first time.

This figure was a “significant” improvement on the previous record level in 2024, when contributions rose by 13 per cent compared to 2023 and totalled DKK 43.6bn.

Danica credited the increase to a strong influx of companies of all sizes and customer collaboration with Danske Bank, showing strong momentum with total growth of over 70 per cent over the past two years.

The fund also highlighted that 2025 saw both major ups and downs in the financial markets, with the decline of the US dollar having a negative impact on Danica’s investments.

However, overall it was a positive year for the global equity markets, which pushed returns for Danica’s customers into positive territory.

According to the results, net sales rose by 85 per cent, reflecting strong overall commercial appeal and return on its traditional pension.

However, Danica saw a significant decline in the returns on its Danica Balance Mix product, with a 20-year retirement horizon and medium risk, as its total returns in 2025 were 6.3 per cent, compared to 15.3 per cent in 2024.

In addition to this, Danica’s Traditional Pension saw a slight fall in returns from 1.8 per cent in 2024 to 1.6 per cent in 2025. However, the returns after a change in additional provisions rose to 4.6 per cent.

The fund also reported that its pension assets increased from DKK 487bn in 2024 to DKK 516bn in 2025, while its profit before tax in 2025 was DKK 1.357m.

Danica's total results for 2025 amounted to just under DKK 1.4bn before tax, which was in line with 2024.

Commenting on the results, Danica CEO, Mads Kaagaard, said: “2025 has been a special year with exceptionally high customer activity and turbulent global financial markets, and against this backdrop, I am very pleased with our record-high growth, where we have succeeded in renegotiating a number of customer contracts and welcoming many new companies.

“We have also achieved progress in customer satisfaction on the basis of a number of improved digital solutions and are thus on track to achieve our strategic goal of being the preferred pension company in Denmark.”

However, Dancia’s results also showed that increased provisions to strengthen sickness and accident insurance in 2025 were needed and affected the year's results.

In particular, the results were affected by Danica's efforts to comply with the orders issued by the Danish Financial Supervisory Authority in the health and accident business area, which led to a major revision of Danica’s methods and model expectations.

As a result, Danica raised its provisions by approximately DKK 500m in the fourth quarter, which had a net effect on Danica's total result of DKK -200m.

The total losses in its health and accident business totalled DKK 866m in 2025, an improvement of DKK 328m compared to last year, but still significant.

"Overall, the results for the year are satisfactory, but at the lower end of our expectations and negatively affected by increased provisions for the SUL area. It is not satisfactory that we are not in balance in the SUL area despite ongoing price adjustments and high-quality healthcare solutions,” Kaagaard added.

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