LB Forsikring

Jan Kamp Justesen is CEO of LB Forsikring and Managing Director of the parent association LB Foreningen. The firm has not publicly disclosed a dedicated CIO or separate investment committee. Lars Busk Fjelsted Hansen chairs the supervisory board. Strategic venture decisions are made in partnership with FinTLV, the Israeli InsurTech fund.

LB Forsikring is a mutual insurance company, meaning policyholders are the economic beneficiaries. The legal ownership is concentrated in LB Foreningen f.m.b.a., a member-owned association that holds 95.6% of the shares. This structure eliminates external shareholder pressure and aligns investment returns with policyholder interests.

Confirmed asset classes include direct commercial real estate in Copenhagen, a previously sold domicile portfolio in Indre By, and a cross-border forestry portfolio across Estonia, Latvia, Lithuania, and Denmark. The firm also allocates to venture through a strategic partnership with InsurTech fund FinTLV and runs the Future-Proof accelerator program with Rockstart.

The primary InsurTech sourcing channel is a strategic partnership with FinTLV, an Israeli Venture Capital fund focused exclusively on insurance technology. LB Forsikring also engages the Danish startup ecosystem through membership in Copenhagen FinTech and the Future-Proof accelerator program operated jointly with Rockstart.

Yes. The firm operates two foundations: LB Fonden and LB Foreningens Fond. These are separate legal entities that extend the mutual structure's social purpose. The foundations are linked to the parent association but governed independently, channeling surplus into causes aligned with the mutual ethos.

Public disclosures do not provide a sector-exclusion list. However, membership in the Institutional Investors Group on Climate Change suggests climate-risk screening applies to the portfolio. The tangible-asset focus on real estate and forestry, paired with InsurTech venture, implies limited appetite for hydrocarbon extraction or speculative financial instruments.

The firm co-invests directly through its venture partnership with FinTLV, indicating a willingness to deploy alongside external GPs in the InsurTech space. The Rockstart accelerator relationship suggests further co-investment activity in early-stage insurance-technology companies. No separate co-investment vehicle or club structure has been publicly disclosed.