Topdanmark agreement update

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."