RCS - Ondo InsurTech PLC - Topdanmark agreement update

Ondo InsurTechAnnouncement

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RNS Number : 5102W  Ondo InsurTech PLC  26 August 2025

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 (http://www.ondoplc.com) www.ondoplc.com
(http://www.ondoplc.com)   or contact the following:

 

 Ondo InsurTech Plc                 Craig Foster, CEO       +44 (0) 800 783 9866

                                    Kevin Withington, CFO
 Dowgate Capital Ltd                Russell Cook            +44 (0) 20 3903 7715

 (Broker & Financial Advisor)       Charlie Hall

                                    Amber Higgs
 Cassiopeia Services Ltd            Stefania Barbaglio      +44 (0) 7949 690338

 (PR & Investor Relations)

 

 

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 (https://www.ondoplc.com/) .

 

 

 

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