Insurance & Pension

Our areas of expertise include:

  • Regulatory aspects
  • Legal proceedings and dispute resolution, non-life and life insurance products
  • Insurance distribution, including insurance mediation contracts as well as registration and authorisation
  • Transfer of insurance portfolios
  • L/P investments
  • Corporate insurance
  • Registration of changes in and application for authorisation to purchase qualifying ownership shares
  • Customisation of non-life and life insurance products
  • Compliance
  • Measures to prevent money laundering
  • Point of contact for supervisory authorities

How we may help
We are highly experienced in rendering advice to Danish and non-Danish insurance companies on the acquisition, sale and merger of insurance companies and pension funds and on the transfer of insurance portfolios. We are particularly experienced in cross-border transactions within the insurance industry.

Our skills encompass expertise to match any legal challenges facing life and non-life insurance providers and pension funds. We have in-depth knowledge of the interaction between company law, union issues and regulatory requirements and have good business relations with the Danish FSA and the Danish Business Authority.

The acquisition, sale and merger of insurance companies and the transfer of insurance portfolios are subject to special authorisation by the Danish FSA pursuant to the Danish Financial Business Act (lov om finansiel virksomhed). In the event of cross-border transfers, the financial supervisory authorities of other EU/EEA countries may be involved.

Specific structural adjustments are also subject to notification to the authorities. Changes in the qualifying ownership shares and indirect ownership shares must, for example, be notified and, in certain circumstances, be authorised by the FSA, just as any registration of new executive officers and board members must comply with the FSA's fit & proper requirements of suitability and integrity.

Compliance challenges facing the industry
The regulatory framework for the financial industry is subject to constant change and the new legislation affects the way insurance and pension activities are carried out. As a consequence of this, the dialogue with the supervisory authorities has intensified and so has the focus on internal compliance.

The various ways of distributing insurance and pension products also make demands on the wording and monitoring of contracts concluded with business partners, not to mention the specific challenges posed by data protection law owing to the increased application of personal data.

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Our ratings

Bech-Bruun Recommended by Legal500

Legal500 Rating 2018
-  Insurance

Bech-Bruun fields a ‘good and professional’ insurance practice that covers the whole range of contentious and non-contentious matters, with recent work for the three-partner team spanning regulatory issues, as well as insurance litigation and mediation. Henrik Valdorf-Hansen represents the City of Copenhagen against Tryg Insurance and Codan Insurance in relation to a fire in a municipality property. Jes Anker Mikkelsen and Anne Buhl Bjelke, who is ‘always ready to provide the best answer’, represent two accountants in two indemnity lawsuits connected to the collapse of Eik Bank.

Legal 500, Insurance

Bech-Bruun Recommended by Legal500

Legal500 Rating 2018
-  Dispute resolution

Bech-Bruun’s 11-partner dispute resolution team provides an ‘excellent level of service’. The firm is highly recommended for insurance, construction and transport disputes, as well as disputes involving financial institutions. A recent highlight was the defence of ING Geneva Branch and BNP Paribas against claims brought by O.W. Bunker bankruptcy estate trustees; Carsten Pedersen led the case. Other names to note are Mogens Gaarden and Jes Anker Mikkelsen.

Legal 500, Dispute resolution

  • Copenhagen

    Langelinie Allé 35
    2100 Copenhagen

  • Aarhus

    Værkmestergade 2
    8000 Aarhus C

  • New York

    412 W 15th Street, 15th Floor,
    New York 10011

  • Shanghai Representative Office

    No.1440 Yan'an Middle Road, Suite 2H08
    Jing'an District, 200040 Shanghai, P.R. China

  • Bech-Bruun Law Firm P/S

    P +45 72270000
    F +45 72270027
    VAT number 38 53 80 71
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