The National Bank of Denmark published data showing Danish insurance and pension companies bought DKK 21 billion of European listed equities in the first quarter of 2025, while their recent pattern of buying US shares reversed to a net sale of nearly DKK 5 billion. Purchases were concentrated in Danish, German and French shares, alongside a significant allocation to British and Swiss shares. The net sale of US equities reflected offsetting transactions across firms, with some selling and others buying. US shares remained the largest component of the companies’ listed equity portfolio of DKK 1,320 billion at 53%, while European shares accounted for 29%.
National Bank of Denmark 2025-05-05
National Bank of Denmark reports Danish insurers and pension companies bought DKK 21bn in European listed equities and net sold US stocks in Q1 2025
The National Bank of Denmark reported that Danish insurance and pension companies purchased DKK 21 billion in European equities in Q1 2025, reversing their trend with a net sale of nearly DKK 5 billion in US shares. Purchases focused on Danish, German, French, British, and Swiss equities. Despite the net sale, US equities still comprised 53% of their DKK 1,320 billion portfolio, with European shares at 29%.