EDC and Gjensidige forming alliance
EDC, the largest estate agents chain in Denmark, has now concluded an agreement with Gjensidige Forsikring regarding the sale of insurance products.
Most recently, Gjensidige made news on the Danish market when it acquired Nykredit Forsikring in March 2010. With the conclusion of the agreement with EDC, which comprises more than 240 real estate agencies, the Group takes yet another step towards reaching its growth target of having a market share of 10 per cent on the Danish market.
The new alliance has been established by two very strong partners indeed. In Norway,
Gjensidige has a 29 per cent market share in general insurance, while the EDC chain holds a stable market share of almost 21 per cent of the Danish property trade market.
Poul Erik Bech, Chairman of the Supervisory Board of the EDC chain states:
-The alliance with Gjensidige means that EDC now has a business partner with the same
ambitions as we have, namely growth through cooperation. It also means that we both have the drive to focus on product development and create insurance solutions that meet the needs and wishes of prospective homebuyers, both when closing the deal and afterwards.
Gjensidige has previously announced its ambitions to grow on the Danish insurance market, and the agreement with EDC gives muscle to Gjensidige’s position, particularly in the personal insurance area.
Kim Rud-Petersen, Executive Vice President (Nordic) of Gjensidige, states:
- Our wish has been to have a strong presence on the Danish market, and the agreement
with EDC, which covers a distribution network with more than 240 agencies throughout
Denmark, marks an exciting stage for us. We are very pleased to enter into an agreement
with such a strong partner, which will give us an even better platform for distributing good
and competitive insurance products to our customers.
The alliance between EDC and Gjensidige will become effective as of 1 October 2010.
Further information can be obtained from:
Trine Andrup, Gjensidige, Senior Manager (Communications), tel.: +45 7732 5014 / +45
2752 5106
Jan Nordmann, Senior Manager (Communications), EDC, tel.: +45 3326 7759 / +45 2127 2111