Stockholm (NordSIP) – Danish insurance company Alm. Brand has announced the appointment of Thorsten Meyer Larsen as new Chief Investment Officer (CIO) on 14 August 2023. Meyer Larsen began his career at the Danish Ministry of Finance before moving to the Danish Central Bank, where during his ten-year tenure he took on the role of Head of Monetary Policy Operations and Government Debt before moving to the position of Head of Reserve Management. His most recent employment was as Head of ESG for Bankinvest.
The Alm. Brand Group became Denmark’s second largest non-life insurer in May 2022 through its acquisition of Codan Forsikring from Nordic insurance company Tryg A/S and Canadian insurer Intact Financial Corporation. The appointment of an ESG specialist to the CIO role signals the growing importance of sustainable investing to large institutional asset owners. Meyer Larsen said: ““I am very much looking forward to continuing the good work that has already been set in motion and to contributing to further developing the investment area at Alm. Brand Group in the years ahead. With the Codan/Alm. Brand combination, the investment area has joined a bigger league – making it only natural to check that the group’s investment profile and priorities are where they should be. This also applies to ESG, which is a fast-developing area.”
The Alm. Brand Group’s sustainability policy is anchored on the principles of the UN Global Compact. The firm has also stated its intention to reduce its CO2 emissions by 70% in 2030 and to be carbon neutral by 2050 in line with the Paris Climate Agreement. Insurance companies are also exposed to climate-related transition and physical risks both via their underwriting business and their investment portfolio holdings. As an economist with specialised ESG experience Meyer Larsen will take on this challenge as a member of Alm. Brand Group’s financial management team.
