El...
›
Ne...
›
Interim Report 1 Jan – 31 Mar 2010: Good investment income for Pension Fennia in the first quarter
Interim Report 1 Jan – 31 Mar 2010: Good investment income for Pension Fennia in the first quarter
- Investment income stood at 3.6%
- Solvency ratio was 19.1% of the technical provisions and solvency margin
including paralleled items 2.8 times the solvency limit
Pension Fennia’s total investment income for the period 1 January – 31
March 2010 stood at 3.6%. The average return on investments during the last ten
years is 3.7% and the average return in the last five years 4.4%. In the first
three months of the year, the highest return was gained from listed equities at
10.1%. The most profitable equities investments were those in Finland and other
Nordic countries.
”In the first quarter our return on investment was at a good level even in
historical view, and we have filled the gap caused by the year of the financial
crisis”, says Lasse Heiniö, Managing Director.
The amount of solvency margin including paralleled items increased to € 1,047
million (2008: € 907 million), and solvency margin was 2.8 times the solvency
limit.
”The economic development of 2010 still involves uncertainty, which speaks
for moderate risk-taking in investment operations. Considering the moderate
risk, the return of the first quarter is excellent”, says Eeva
Grannenfelt, Chief Investment Officer.
In customer transfers the number of TyEL and YEL policies continues to
increase. In the second transfer round of the year that ended on 31 March 2010,
Pension Fennia’s net increase of TyEL policies was 53 and that of YEL policies
175. TyEL premium income decreased by around € 13 million in the transfer
round.
The retirement of baby boom generations is still visible in the number of
pension applications.
The figures presented in this review are those of the parent company and have
not been audited.
Further information:
Lasse Heiniö, Managing Director, tel. +358 10 503
7204
Eeva Grannenfelt, Director, Chief Investment Officer, tel. +358 50 544
6355