Børsen fire costs insurer millions

The insurance claim from the fire at Børsen will cost insurance company If over 223.8 million Danish kroner. This information is disclosed in the company’s financial report for the second quarter of the fiscal year. The financial result for the quarter includes a reserve for the Børsen claim, which will exceed If’s retention limit of 30 million euros; an amount If must pay out of its own pocket. The insurance likely covers If through reinsurance. The Børsen building was insured by If, while the contents were insured by Protektor. During renovations, which began in 2022 and were expected to complete by 2029, a fire on April 16 caused significant damage including the building’s iconic dragon spire. The incident resulted in additional smoke and water damage, and Brian Mikkelsen emphasized that the building would be rebuilt regardless of the circumstances. The cause of the Børsen fire is still unknown.