"Risk management is the pivot in asset management whether it is long-term pension savings or day-to-day cash flow management. It is vital that risk is always under control."

Lars Thykier, CFO


Topdanmark's opinion

  • That Topdanmark's shareholders' equity should be sufficient to support its current operations

We constantly focus on those factors that influence the capital structure

  • Finance
  • Investment policy




It is Topdanmark's wish that its value creation to a greater extent is achieved by accepting insurance risk rather than investment risk. This goal is reflected in the Company's investment policy.

The goal of Topdanmark's capital structure is to ensure that its capital base by way of shareholders' equity and hybrid capital is exactly sufficient to support its current operations and at the same time sufficient to cover regulatory requirements - but not larger. Equity in excess of this amount is distributed to shareholders by way of dividends.

Investment policy

Topdanmark's risk profile

It is Topdanmark's underlying belief that the primary source of its value creation should be from accepting insurance risk. It also believes that Topdanmark would benefit from supplementing the value creation from the primary business activities by utilising its significant capital strength to accept a certain amount of financial risk thus increasing the expected return on the invested funds. Insurance risks are an inevitable consequence of the core business, and Topdanmark believes that they could be attractive to those investors who want to diversify the risk profile of their equity portfolios.

You can read more about Risk Management.


Share price

Investor contact
Steffen Heegaard, head of IR and Group Communications is responsible for the contact to share analysts and institutional investors:

Tel: +45 44 74 40 17
Mobile: +45 40 25 35 24