Denmark’s two key financial sector trade associations, Finans Danmark and Forsikring & Pension (Insurance and Pension Denmark), have launched a partnership – Det Finansielle Forsvars- og Beredskabspartnerskab – The Financial Defense and Emergency Preparedness Partnership, intended to strengthen the defence sector and emergency preparedness across Denmark and Europe.
Citing the war in Ukraine, increasing cyber threats, and global geopolitical tensions, the associations cite a need to support the development of defence and emergency response, recognising also the role that private finance plays when public funds are under pressure.
“The partnership brings together banks, mortgage institutions, insurance companies, and pension funds in a joint, coordinated effort to strengthen cooperation with authorities and the government. The goal is to ensure clear frameworks and better coordination regarding the defense industry’s financing needs – and to mobilise more private resources to support Denmark’s defense and security through investments and financing. At the same time, the partnership will map out how the sector can best contribute to government priorities – including the forthcoming defense industrial strategy and the establishment of a defense fund,” Finans Danmark said in a statement.
Michael Rasmussen, chairman of Finans Danmark, and group managing CEO of Nykredit Realkredit A/S, commented: “When our collective security is under threat, action is needed across all parts of society. Banks have both the will and the tools to contribute – through financing, investments, and the development of critical infrastructure. With this partnership, we actively make ourselves available to strengthen both defense and emergency preparedness – and we are ready to offer concrete solutions that match the needs and priorities society faces – without compromising our responsibility to ensure stable and secure conditions for Danes’ savings and investments.”
Ole Krogh Petersen, chairman of Forsikring & Pension, and group CEO at PFA, added: “The new security landscape requires new solutions – and closer collaboration between public and private actors. As an industry, we are constantly focused on how our investments can not only secure returns for pension customers but also strengthen our society – including Denmark’s security. With this partnership, we aim to help the financial sector support investments in everything from critical infrastructure to the defense industry – benefiting both national security and societal resilience.”
Denmark’s government announced in February 2025 a target of 3% of GDP spending on defence through 2025 and 2026. In late June it announced funding to establish Ukrainian defence company production in Denmark.
Also in June, as a member of NATO, Denmark’s government agreed to the alliance’s new target of 3.5% of GDP for defence expenditure by 2035, along with additional spending by alliance members of 1.5% of GDP to “inter alia protect critical infrastructure, defend networks, ensure civil preparedness and resilience, innovate, and strengthen the defence industrial base.”
