History of Vörður
Vörður is a young insurance company with a long history. We are there when you need insurance.
Viðskiptavinir okkar fá afslátt á ýmsum öryggisvörum
Vörður is a young insurance company with a long history. We are there when you need insurance.
It can therefore be said that Vörður turned 80 years old in 2006. The company was later named Vélbátatrygging Eyjafjarðar GT, and in 1998 the name was changed to Vörður Insurance hf.
At the end of 2004, it was decided to merge Vörður Insurance with Íslandstrygging hf., which had been founded in 2002. At the beginning of 2005, the merged company began operations under the name Vörður Íslandstrygging.
In November 2006, changes were made to the company’s ownership when Eignarhaldsfélagið ehf. acquired all of the company’s shares. Eignarhaldsfélagið was owned by SP-Fjármögnun, Landsbankinn, and BYR Savings Bank. The new owners’ intention was to strengthen the company’s operations and make it a viable alternative to the three established companies in the market. Subsequently, the company’s name was changed to Vörður Insurance hf.
In the autumn of 2009, Vörður’s ownership was further strengthened when BankNordik (formerly Føroya Banki) acquired a controlling stake in the company, and in the first half of 2012 the bank acquired all of its shares. BankNordik holds over a 40% market share in the banking market in the Faroe Islands and also operates branches in Denmark and Greenland. BankNordik is listed on the Danish stock exchange and the Icelandic stock exchange and is one of the ten largest banks in the Nordic countries by market capitalization. The bank also owns and operates the insurance company Trygd in the Faroe Islands, which holds approximately a quarter of the insurance market there.
In October 2015, BankNordik finalized the sale of its shareholding to Arion Bank. The agreement was conditional and subject, among other things, to approval by public authorities. All conditions of the agreement were fulfilled in October 2016, and Arion Bank thus became the new owner of Vörður.
OKKAR Life Insurance and Vörður Life Insurance merged under the Vörður brand in March 2017.
Vörður is a comprehensive insurance company serving both individuals and businesses. The company emphasizes simple and convenient insurance services.