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Intact reveals Codan Denmark CEO to continue following RSA deal

Under the proposed transaction, Codan Denmark will be jointly owned by the two parties on a 50/50 economic basis

Intact has confirmed that Christian Baltzer will continue as CEO of Codan Denmark following the completion of the proposed takeover of RSA Insurance Group plc by Intact Financial Corporation.

Under the proposed transaction, Codan Denmark will be jointly owned by the two parties on a 50/50 economic basis with Intact taking management responsibility.

The firm said working together with Intact, Christian Baltzer and the Codan Denmark-team will “drive the continued success” of the business, whilst assessing strategic alternatives for its long-term ownership.

Charles Brindamour, CEO, Intact Financial Corporation: “The entire Codan team in Denmark, led by Christian Baltzer, has undergone remarkable development over the past year, and has achieved strong results.

“Codan Denmark is an iconic brand in a great market. We are confident that Codan Denmark can continue to realize its significant potential, and Christian Baltzer is the right person to lead that journey forward.”

Baltzer added: “Codan Denmark is a company with exceptionally skilled employees and a diversified, customer-focused business. I and the rest of the Codan team in Denmark are really looking forward to the future. Both Intact and Codan believe that a strong data-driven mindset – combined with a strong customer-centric focus – is the way forward to realizing Codan Denmark’s great potential.”

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