Q3 financial results: Record-breaking performance and enhanced value proposition for customers

30 October 2025

Press release

On Thursday 30 October, Velliv published its financial results for the first three quarters of 2025. The report reveals a highly satisfactory pre-tax profit of DKK 863 million.

This strong result is driven by a continued focus on streamlining operations, which also helps reduce costs for our customers. Despite a continued rise in the number of customers affected by mental health conditions, the risk result remains positive, and we're working diligently to meet the Danish Financial Supervisory Authority’s requirements for balance. Contributions show a modest increase of 1 per cent compared to the same period last year.

Following a period of consolidation, Velliv is once again ready to accelerate growth and welcome more people into our unique customer community. Our strengthened value proposition – with high returns across our broad range of savings products, Velliv Health Insurance and a focus on continuing to improve coherence in the service experienced by customers – contributes to making Velliv's market position even more attractive.

At the same time, we aim to make it even more cleare how Velliv’s unique customer ownership model creates value for each individual through competitive products, an efficient business where profits benefit our customers, and a firm insistence that personal advice and strong relationships make a difference for both corporate and private customers.

The report confirms Velliv’s strong position. With our new health insurance offering, an investment strategy that delivers competitive returns across our savings products, and a customer focus that is unparalleled in the industry, our value proposition has never been stronger. At the same time, we’re delivering a record pre-tax profit of DKK 863 million, which raises expectations that customers will once again receive a bonus in 2026.
Kim Kehlet Johansen
CEO of Velliv

Velliv Health Insurance now live

Velliv’s brand-new health insurance was launched on 1 October, and the first customers have already experienced how Velliv – through personal dialogue, care and ongoing follow-up – can make a genuine difference for individuals and their families. We’re also seeing strong interest from corporate clients in joining the market’s new health insurance offering. This confirms that customers are actively seeking personal advice with a focus on care and suficient time for follow-up – a reflection of Velliv’s approach, not least within the field of health care.

From negative to positive returns

Velliv’s investment strategy, grounded in deep market insight, data and analysis, has proven robust during a turbulent period and continues to contribute positively to our customers’ savings. This is particularly evident in the fact that, since its rollout in summer 2024, we've delivered top-tier returns to our customers among commercial pension providers.

For the first three quarters of 2025, customers have received a total return of DKK 15.9 billion, marking a strong performance in the first nine months of the year. For a customer with VækstPension, returns ranged from 3.8% to 7.8% by the end of September, depending on product choice, risk profile and time left until retirement. Customers with a medium risk profile and 15 years to retirement received a return of 6.4% in VækstPension Index and 6.3% in VækstPension Aktiv.

These returns are a clear contrast to the situation in April this year, when returns were negative due to trade tensions in the US.