Insurance and Pension Denmark (I&P Denmark) is to become an employer association, along with Finans Danmark, as they absorb the work of the Financial Sector Employers’ Association.

It means that from now on, both of the major industry associations in the financial sector - Finans Danmark and I&P Denmark - will be both interest organisations and employer associations. The move is the result of a request from Finans Danmark's board of directors.

Commenting, Finans Danmark chair and Danske Bank CEO, Carsten Egeriis, said:"The Financial Sector Employers' Association has done a great job on behalf of the sector over recent years. But it has been a strong desire on the part of Finans Danmark's board of directors to gather forces in one place to ensure a strengthened effort going forward, both when it comes to the protection of political interests and the protection of the interests of the sector's employers.

“It will strengthen the sector's voice and make the sector's role in society visible on a broader basis than today.”

The wish of Finans Danmark's board will mean activities that are currently handled by the Financial Sector Employers' Association are transferred to Finans Danmark when it applies to banking, mortgage credit, data centers, etc., and to I&P Denmark when it applies to the insurance and pension area.

I&P Denmark has accepted the request from Finans Danmark's board and is now working to find the best possible solution for the industry's joint employer tasks. However, I&P Denmark CEO, Kent Damsgaard, emphasised that I&P Denmark and the insurance and pension companies have greatly appreciated the effort and the work that the Financial Sector Employers' Association has undertaken.

"Our core purpose is to create value for the insurance and pension companies through our political work, our industry solutions, and the operation of the industry's guarantee funds. Now we get the opportunity to assist the members in a fourth area, which is of such great importance to our companies – namely to support them in their role as employers of their many skilled employees. To that extent, I have respect for how important a task it is, and we look forward to being able to assist our members on this point as well,” Damsgaard, said.

The Financial Sector Employers' Association will now convene an extraordinary general meeting, where the association's board of directors will recommend that the activities continue via Finans Danmark and I&P Denmark.

"In order to meet the wishes of Finans Danmark's board, we are in the process of getting the formal framework in place in relation to members and employees of the Financial Sector Employers' Association. The goal is that the current activities of the Financial Sector Employers' Association will continue in the future in Finans Danmark and I&P Denmark,” Financial Sector Employers' Association chair and Danske Bank HR director, Karsten Breum, said.

“In this context, we have a strong focus on ensuring a good and orderly process for everyone. As chairman of the board of the FA, I am very pleased to be able to deliver a strong and well-run employers' association to the two new organisations.”

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