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LB Insurance
LB Insurance was founded in 1880 as a mutual association serving Danish teachers under the name Lærerstandens Brandforsikring. Today the group comprises four...
LB Insurance
LB Insurance was founded in 1880 as a mutual association serving Danish teachers under the name Lærerstandens Brandforsikring. Today the group comprises four member-facing brands—Lærerstandens Brandforsikring, Runa Forsikring, Bauta Forsikring, and LB Forsikring for PFA—and operates as a customer-owned mutual, distributing underwriting profits back to policyholders rather than external shareholders. CEO Jan Kamp Justesen leads the enterprise from its Copenhagen headquarters. The investment portfolio, directed by CIO Soli Preuthun, blends direct Scandinavian real estate with a growing allocation to sustainable and impact assets. Known property positions include the office portfolio centered on Nyropsgade 39-43 in Copenhagen. On the liquid and alternatives side, the firm holds a global Sustainable and Impact Investment Portfolio, reflecting its membership in the Institutional Investors Group on Climate Change and its status as a Net Zero Asset Managers signatory. The mutual structure permits patient capital deployment across private credit, real estate equity, and infrastructure-linked instruments, with no disclosed external fund commitments. LB Insurance belongs to several industry and innovation networks that extend its reach beyond Denmark. It is a member of the International Cooperative and Mutual Insurance Federation and participates in EURESA, a European collaboration among mutual insurers. The firm also engages with Copenhagen FinTech, connecting its investment and underwriting operations to the Nordic startup ecosystem. In October 2023, LB Forsikring was named Denmark's most climate-friendly insurance company in a consumer survey conducted by Sustainable Brand Index—reinforcing the mutual's positioning around sustainability-linked insurance products. LB Insurance's structural differentiator is its mutual governance model, which aligns capital deployment with the long-term interests of policyholders rather than quarterly earnings. The absence of external shareholders allows the investment office to hold illiquid assets—such as the Copenhagen office portfolio—through market cycles without forced selling. A related philanthropic vehicle, LB Foreningen, supports social and cultural initiatives, creating a governance separation between charitable giving and the insurance balance sheet.
General information
Firm type
Insurance
Year founded
1880
AUM
Undisclosed
Location
Region
Europe
Country
Denmark
City
Copenhagen
Corporate office
Kobenhavn O, Denmark
Principals
Jan Kamp Justesen
CEO, LB Forsikring
Soli Preuthun
Chief Investment Officer
Sector focus
Frequently asked questions
Who runs investment decisions at LB Insurance?
Soli Preuthun serves as Chief Investment Officer, overseeing asset allocation and manager selection for the general account. Preuthun reports to CEO Jan Kamp Justesen and operates from the firm's Copenhagen headquarters. The investment function manages policyholder premiums across real estate, fixed income, and sustainable mandates.
How does LB Insurance's mutual structure affect its investment approach?
As a customer-owned mutual, LB Insurance distributes surplus to policyholders rather than external shareholders. This structure removes pressure to maximize short-term earnings, enabling the investment team to hold illiquid assets like direct Copenhagen commercial property through market cycles. The absence of third-party capital also means the portfolio faces no redemption risk.
Does LB Insurance maintain a direct real estate portfolio?
Yes. The portfolio includes a Copenhagen office portfolio anchored by the property at Nyropsgade 39-43. Direct ownership allows the firm to capture full property returns and manage assets with a long-term hold strategy aligned to its liability profile.
What is LB Insurance's posture on climate and sustainable investing?
LB Insurance is a signatory to the Net Zero Asset Managers initiative and a member of the Institutional Investors Group on Climate Change. The firm maintains a dedicated Sustainable and Impact Investment Portfolio. The mutual also participates in Copenhagen FinTech, signaling interest in climate- and sustainability-linked innovation.
What network memberships does LB Insurance hold?
The firm belongs to ICMIF, the International Cooperative and Mutual Insurance Federation, and EURESA, a European innovation network for mutual insurers. It is also a member of Copenhagen FinTech. These memberships provide co-investment dialogue, peer benchmarking, and access to sector-specific innovation partnerships.
How does LB Insurance relate to the Lawrence & Brownlee Agency in the United States?
There is no operational relationship. Lawrence & Brownlee Agency was an insurance brokerage in South Carolina formerly owned by David H. Fant. LB Insurance Inc. is a separate entity in South Dakota owned by Larry Braun. Both share the initials 'LB' but are unrelated to the Danish mutual.
Does LB Insurance participate in external fund commitments?
Public disclosures do not identify specific external fund commitments. The known investment approach favors direct ownership in real estate and internally managed sustainable portfolios. The mutual may access private credit and infrastructure through direct or co-investment channels, but no named GP relationships are confirmed.
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