Alka was created by the merger of Workers' Life Insurance, founded in 1903 and Danish Cooperative Assurance, founded in 1929, both working with the Danish labor movement.
[2] Over its history, Alka has grown by a series of acquisitions: Alka bought Nordlyset Insurance from English Provincial in 1992; and in 1998, it took over the Danish subsidiary of the Swedish insurer, Salus Ansvar.
In 2001, Alka bought by the German insurance group Allianz's Danish subsidiary.
Some 55% of Alka's shares are owned by trade unions, 35% by cooperative enterprises, including Arbejdernes Landsbank, and 10% by sister companies.
Alka was the title sponsor of Danish Superliga between 2015-2018.