Forsia Forsikring A/S Due Diligence

Run due diligence on Forsia Forsikring A/S: check compliance and get alerts when suppliers or ownership change.

Denmark · owned by Forsia Foreningen f.m.b.a. (Denmark) · forsia.dk · 28 vendors

Forsia Forsikring A/S is a Danish, customer-owned private insurance company headquartered in Aabenraa, Denmark, formerly known as Sønderjysk Forsikring. The company offers a wide range of personal insurance products including car, home, travel, health, accident, and pet insurance across all of Denmark. It is 100% owned by its customers through the parent entity 'Forsia Foreningen', with roots dating back to 1858.

Resilience scores

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Insights

Last updated 2026-10-11 · revision 5

28 direct vendors, 338 subvendors

Direct vendors by controlling owner country (sample)

Subvendors by controlling owner country (sample)

Migration Readiness: 6/10

Assessed by AI based on technology stack characteristics (cloud-native vs legacy, containerization, microservices), regulatory environment, data residency requirements, financial stability, and vendor lock-in risks. The score ranges from 0-10, where higher scores indicate better readiness for technology migration.

Forsia Forsikring A/S exhibits medium migration readiness. A key strength is the low vendor lock-in risk, attributed to a diverse vendor base of 27 vendors providing 34 services, with headquarters in 7 different countries. This diversity offers significant flexibility in transitioning away from existing services or adopting new cloud-based solutions. The company's existing modern digital components, such as mobile apps and AI-assisted tools, suggest a foundational capability for digital transformation. Financially, despite some revenue fluctuations, the overall growth trend indicates a capacity to fund migration initiatives. However, several challenges exist. The current tech stack, which includes WordPress for its public website and does not explicitly mention cloud-native architecture, containerization, or microservices for core systems, suggests that significant re-platforming or re-architecting efforts might be required for a full cloud migration. The regulatory environment presents considerable hurdles, with NIS2, the Danish Anti-Money Laundering Act, and the IDD all requiring assessment. Addressing these compliance gaps will add complexity and cost to any migration project. Furthermore, the 'Partially Compliant' status for GDPR necessitates meticulous data handling and privacy considerations during any data movement. Strict data residency requirements under GDPR also limit the choice of cloud providers and regions, adding another layer of complexity to migration planning.

Compliance

11 in-scope frameworks identified; showing 3.

Danish Anti-Money Laundering Act — No public evidence

Financial institutions in Denmark, including insurance companies, are designated as obliged entities under the Danish Anti-Money Laundering Act and are required to implement AML/CFT measures.

Evidence: https://www.investeurope.eu/publications-policy/publications/key-policy-areas/insurers-solvency-ii/

ISO 27001 (source) — No public evidence

ISO 27001 is a voluntary information security standard. For a financial services company, customers and regulators expect strong information security management, making this framework highly relevant.

Danish Insurance Business Act — Evidence found

The company is a Danish insurance provider (Forsikring A/S) headquartered and operating in Denmark, placing it directly under the jurisdiction of the Danish FSA (Finanstilsynet) and this national implementing law.

Evidence: https://www.citiumtech.com/resources/eiopa-insurance-register/undertakings/forsia-forsikring-a-s-dk, https://en.wikipedia.org/wiki/Danish_Financial_Supervisory_Authority, https://www.dfsa.dk/about-us, https://forsia.dk/om-forsia/regnskab/, https://forsia.dk/app/uploads/2025/03/SFCR-2024-Forsia-Forsikring-AS.pdf, https://www.investeurope.eu/publications-policy/publications/key-policy-areas/insurers-solvency-ii/

Financials

Three-year financials

Financial Resilience Score: 8/10

Forsia Forsikring A/S demonstrates very strong financial resilience, anchored by an exceptionally robust capital position. The Solvency II solvency coverage ratio stood at 279.4% at year-end 2025, with own funds of DKK 760.6M versus a solvency capital requirement of DKK 272.2M - roughly three times the regulatory minimum. Equity of DKK 733.3M provides substantial loss-absorbing capacity relative to the DKK 848.0M premium base, and the company received a clean auditor opinion from PwC with no going-concern issues flagged. Operationally, the company has returned to profitability after a difficult 2023 (technical result of -DKK 69.0M, combined ratio 109.2). The combined ratio has improved steadily to 98.2 in 2025, though still above the strategic target of ~95. Profit after tax of DKK 25.1M in 2025 and management guidance of DKK 45-55M for 2026 indicate improving underlying performance. A comprehensive reinsurance program caps per-event net retention at DKK 0.5-10M with A- or better rated reinsurers, mitigating catastrophe exposure. Key risks include rising natural catastrophe frequency (7 events in 2025 vs. historical 2/year), elevated expense ratio (24.5%) from ongoing business model transformation, claims ratio pressure in Private (72.5%) and Accident/Health (74.9%) lines, and 100% geographic concentration in Denmark. Reserve estimation on DKK 697.4M of insurance contract liabilities was flagged as a key audit matter. The customer-owned structure via Forsia Foreningen f.m.b.a. supports long-term stability.

Key strengths: Solvency II coverage ratio of 279.4% - approximately 3x regulatory minimum, Strong equity base of DKK 733.3M with own funds of DKK 760.6M, Clean PwC audit opinion with no going-concern issues, Combined ratio improved from 109.2 (2023) to 98.2 (2025), Comprehensive reinsurance program with A- or better rated reinsurers, Stable customer-owned ownership structure via Forsia Foreningen f.m.b.a., Diversified investment portfolio across four managed sub-portfolios, Positive 2026 outlook: DKK 45-55M expected net profit

Risk factors: Rising natural catastrophe frequency - 7 events in 2025 vs. historical 2/year, Elevated expense ratio of 24.5% due to ongoing transformation costs, Claims ratio pressure in Private line (72.5%) and Accident/Health (74.9%), 100% geographic concentration in Denmark, Insurance contract reserves of DKK 697.4M (46.6% of balance sheet) flagged as key audit matter, Combined ratio still above 95 strategic target, Narrow product focus on private lines only (no commercial after divestment), Almost double the normal frequency of large fire claims in 2025

Revenue by geography

Revenue by product/service

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