At the general assembly of the Danish Shipowners’ Accident Insurance Association, chair Lars Henneberg reported on a successful 2025 for the company.
A good and busy year despite a difficult framework for shipping. This is how chair of the Danish Shipowners’ Accident Insurance Association, Lars Henneberg, summed up the calendar year 2025 in his report on behalf of the board of directors at the company’s annual general assembly on 29 April 2026.
Among other things, he pointed to the current geopolitical situation worldwide, where tensions in the Red Sea last year have been replaced by the war in Iran and a particularly uncertain development around the Strait of Hormuz. The situation has complicated the working conditions for the Danish shipping companies, which Lars Henneberg took the opportunity to praise for their efforts to ensure the safety of seafarers.
The shipping companies' generally good work with safety is also reflected in the claims development, which is stable and on a par with 2024 despite a steady increase in the number of hiring days. It also contributes to UFDS being able to maintain the premium of DKK 22 per hire day in 2026.
Strategic room for maneuver for the Board
Furthermore, Lars Henneberg talked about a continued solid and stable market position for UFDS, which maintains a market share of more than 90 percent of the core market of Danish shipping companies, underlining the company's competitiveness.
These factors ensure a continuation of the positive earnings trend that has characterized the company in recent years. UFDS can thus present a very satisfactory annual result for 2025 of DKK 21.8 million after tax with a solid solvency ratio, again testifying to a well-capitalized company.
Lars Henneberg also pointed out how there is no longer pressure on the capital base, which the board greatly appreciates. Combined with a solvency coverage ratio of 256 percent, this gives the Board of Directors what he labelled a strategic room for maneuver that everyone in the company looks forward to working with.
»So, the conclusion is that we have a healthy and solid business, that the basic premium we have set covers the expected damages and costs with a minimal profit. That profit is getting smaller and smaller because costs are growing with inflation, and on that basis we are pleased that we have now maintained the premium for three years in a row,« Lars Henneberg said.
As something special, 2025 has been characterized by the fact that we have taken significant steps towards a new strategic direction, which will be presented on this site.
