Deloitte as transformation partner for Codan and Trygg-Hansa

On 1 April 2022, one of the biggest transactions in the Danish insurance industry was completed as Tryg took over RSA Insurance Group’s businesses in Sweden and Norway with the acquisition of Trygg-Hansa in Sweden and Codan in Norway. Alm. Brand took over the ownership of Codan Forsikring in Denmark on 2 May 2022.

As the transformation partner, Deloitte played a leading role in supporting the establishment of the transformation programme and governance set-up to ensure a smooth handover of activities between Codan and Tryg. Deloitte Consulting was responsible for driving the demerger programme in close coordination with Codan. Additionally, Tax & Legal, Financial Advisory and Risk Advisory have supported Codan in the transformation. 

It has been a complex process with different stakeholders and interests, and employees who have been part of one large organisation, being demerged and sold to different owners.

The transaction was completed successfully with Codan Forsikring being an independent and fully operational insurance company ready to be included in Alm. Brand Group.

For more information about Deloitte’s work on M&A and transformation programmes: