A group of life and pension companies have chosen to transfer all tasks pertaining to group life insurance to a separate administration company, namely FG. We prepare proposals, manage agreements, collect premiums, pay out insurance sums, take care of customer service and provide sales and technical insurance assistance.
This provides potential for economies of scale, low-cost administration and specialisation. Our core product is low-priced, uncomplicated and transparent – standardised life insurance that is easy to manage.
FG is owned by the following Danish life and pension companies, all of which are equal shareholders:
A group life insurance is a collective insurance without savings – a so-called "risk insurance". FG only sells life insurance to groups of at least 25 persons. The insurance can include different types of insurance coverage and sum amounts, and can apply to both compulsory groups and voluntary schemes.
Group members will typically be employees of a public or private company, members of a pension fund, organisation or union, or groups of customers of a bank or insurance company.
Group life policies can be divided into three main categories, compensation being paid out on death, disability or specified critical illnesses.
The company is managed by a board of directors with six shareholder representatives and four customer representatives. The latter are elected from a customer panel consisting of 30 of the most important and largest customers. This panel advises the board and management on products and service.
The administration company has 34 employees who, in collaboration with the sales organisations of FG’s owners, handle administration and sales of group life insurance.
Responsibility for day-to-day management lies with the managing director together with the two vice presidents.
Earned premiums amounted to approximately DKK 5,5 billion.
Trend in key figures over the past 5 years (DKK millions):
|Insurance benefit payments||5.364,6||5.015,8||5.146,5||4.914,5||4.880,8|
|Insurance operating costs||120,1||222,3||117,6||113,8||104,4|
|Tax/Tax on pension returns||16,5||25,3||29,9||26,6||26,3|
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