Fitch Withdraws Codan's IFS Rating

Fitch Ratings has withdrawn Codan Forsikring A/S's (Codan) Insurer Financial Strength (IFS) Rating of 'A+'.

Prior to the withdrawal, the Outlook was Stable.

Fitch has withdrawn the IFS Rating as Codan no longer exists, and Fitch will no longer provide ratings or analytical coverage for the entity.

Effective 31 March 2024, Alm. Brand A/S's two main insurance operating subsidiaries, Alm. Brand Forsikring A/S and Codan merged, with the former the surviving entity. The merger has no impact on the other ratings of the Alm. Brand Group.

Key Rating Drivers

Not relevant as the rating has been withdrawn.

RATING SENSITIVITIES

Not relevant as the rating has been withdrawn.

Date of Relevant Committee

10 November 2023

REFERENCES FOR SUBSTANTIALLY MATERIAL SOURCE CITED AS KEY DRIVER OF RATING

The principal sources of information used in the analysis are described in the Applicable Criteria.

RATING ACTIONS

Entity / Debt

Rating

Prior

Codan Forsikring A/S

LT IFS

WD

Withdrawn

A+

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of 1

VIEW ADDITIONAL RATING DETAILS

Additional information is available on www.fitchratings.com