Insurance

For decades, we have advised IKEA businesses and other partners on all global insurance matters and reinsured selected risks originating from the IKEA franchise concept. Our advisory services cover multiple areas such as protection of assets, transportation, clients, and co-workers. Beyond this, we provide risk financing solutions to exposures around the globe, both IKEA related and others.

2023 at a glance

No. of co-workers: 16
Gross written premium: EUR 107 million

The year in brief

  • We delivered another strong financial result in 2023, 14 percent above budget.
  • From a claims perspective, 2023 was a very good year with lower than average claims and no major losses.
  • Market conditions in Re-/insurance remained challenging. Nevertheless, the Ikano Insurance Advisory team and Ikano Re could assure good conditions for their yearly renewals.
  • We see an increasing number of natural disaster losses. Today, there‚Äôs a global lack of insurance capacity, which means that only parts of these losses are insured. To close this gap, Ikano Re began reinsuring worldwide natural catastrophes (not related to IKEA) in 2022, which today relates to 7 percent of our premium. In 2023 the result was ahead of budget.
  • We did a deep-dive analysis of all Ikano Group businesses to understand and quantify cyber risks. This exercise provided even more capacity and coverage at a lower premium.
  • We are embedding sustainability in everything we do. We contributed to the publishing of a White Paper about the difficulties in finding insurance for the recycling industry.
  • 2023 brought changes in both leadership and co-workers. We had to say goodbye to Tomas Wittbjer, who was both CEO Ikano Re and Business Leader Insurance for 15 years, and we welcomed Carl-Johan Nilsson as Business Leader Insurance and Angela Mall as CEO Ikano Re.

We supported the Swiss Pro Juventute hotline with EUR 50 K
Gross premiums written: EUR 107 million



Business Leader Carl-Johan took part in bike ride fundraiser for World Bicycle Relief