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26 Aug 2025 07:00
26 August 2025
Ondo InsurTech Plc ("Ondo" or the "Company")
Agreement Update with If in Denmark
Ondo InsurTech plc (LSE: ONDO), a leading company in claims prevention technology for home insurers, is pleased to announce that it has signed an agreement update with If P&C Insurance ("If") following the acquisition and subsequent integration of Topdanmark into If's Nordic operations. The updated agreement recognises this change of control and enables If to introduce LeakBot to its wider Danish customer base, starting with a roll out via its agent network from August 2025 .
Following completion of the integration of Topdannmark on 1 July 2025, If is now Denmark's second‑largest insurance provider with 20% market share and serves over 4.5 million customers across the Nordics and Baltics. The integration follows Sampo plc's public exchange offer for Topdanmark, which resulted in Sampo holding approximately 92.6% of Topdanmark's shares in September 2024. As part of the Danish go‑to‑market, If is continuing to offer insurance under both the If and Topdanmark brands.
Craig Foster, CEO of Ondo, commented:
"Topdanmark has been a long‑standing and successful LeakBot partner. The completion of its integration into If creates an opportunity to scale our solution to a much broader customer base in Denmark. Offering LeakBots through If's agents is a natural next step and we're excited to support If as they bring proactive leak prevention to more Danish households."
For further information, please visit www.ondoplc.com or contact the following:
Ondo InsurTech Plc | Craig Foster, CEO Kevin Withington, CFO | +44 (0) 800 783 9866 |
Dowgate Capital Ltd (Broker & Financial Advisor) | Russell Cook Charlie Hall Amber Higgs | +44 (0) 20 3903 7715
|
Cassiopeia Services Ltd (PR & Investor Relations) | Stefania Barbaglio | +44 (0) 7949 690338 |
About Ondo InsurTech Plc
Ondo is a world leading provider of claims prevention technology for home insurers. Ondo's focus is on the global scale-up of LeakBot - claims prevention technology that prevents water damage claims in houses. Water damage is the single biggest cause of home insurance claims, accounting for $17bn of claims every year in the USA and UK combined. LeakBot is a patented self-install solution that connects to the home wireless network and, if it detects a leak, notifies the customer via the LeakBot mobile app and provides access to a team of expert LeakBot engineers to 'find and fix' the problem. Independent research by Consumer Intelligence found LeakBot can reduce the cost of water damage claims by up to 70%.
LeakBot partners with 25 insurance carriers - including Nationwide, Admiral, Direct Line Group, Hiscox, Länsförsäkringar and TopDanmark - both in Europe and the USA.
Ondo holds the coveted London Stock Exchange Green Economy Mark awarded to companies who derive the majority of their income from Green activities.
For more information, visit www.ondoplc.com.
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