Gard Acquires Codan Energy & Marine from Alm. Brand Group in $160 Million Deal
Danish insurance conglomerate Alm. Brand Group has sold its Codan Energy & Marine division to Gard for $160 million in cash and $70 million in equity. This move aligns with Alm. Brand’s strategy to maximize value and strengthens Gard’s position in the marine and energy sectors. The acquisition brings Gard $180 million in annual premium income and a stronger foothold in the industry.