Denmark’s pensions and insurance industry association is to take on a new area of work as an employers’ association, following its agreement to a proposal from the banking lobby group Finance Denmark, in a move the banking sector association argues will bolster the sector’s voice.

Insurance & Pension Denmark (Forsikring & Pension, IPD) announced: “Finance Denmark’s board has wanted to integrate the sector’s role as an employer within Finance Danmark.

“Against this background, Insurance & Pension Denmark and FinanceDenmark have agreed that the employer-related activities within the Financial Sector Employers’ Association (Finanssektorens Arbejdsgiverforening, FA) will be transferred to Finance Danmark and IPD respectively,” IPD said yesterday.

Kent Damsgaard, chief executive officer of IPD, said his association’s core purpose was to create value for insurance and pension companies through its political work, industry solutions and operation of the industry’s guarantee funds.

“Now we are getting the opportunity to assist 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,” he said.

Carsten Egeriis, chair and CEO of Finance Denmark, said FA had done a great job on behalf of the sector over recent years.

“But there has been a strong desire on the part of Finance 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,” he said.

“It will strengthen the sector’s voice and make the sector’s role in society visible on a broader basis than today,” said Egeriis, who is also CEO of Danske Bank.

Karsten Breum, FA’s chair as well as head of HR at Danske Bank, said his organisation was now in the in the process of putting the formal framework in place in relation to its members and staff, in order to meet the wishes of Finance Denmark’s board.

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Rachel is IPE's Nordic correspondent. She has long been a freelance writer, and over the years, has written for The Telegraph, The Independent, The Observer, AMWatch and elsewhere. In 2001, Rachel's personal finance book Kickstart Your Money was published by John Wiley & Sons.View full Profile

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