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Annual Report 2019 - Varma

We support you in a world that's going through incredible change.

We support you in a world that's going through incredible change.

Varma’s responsibility for managing pension assets, and for our customers, employees and shared environment spans far into the future. We are building a world that is safe and sustainable also for future generations.

President and CEO's review

“For Varma, 2019 was a year of very strong investment returns, successful client acquisition and excellent efficiency.”

Risto Murto, President & CEO

Annual and Sustainability Report 2019

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Financial Statements 2019

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Corporate governance 2019

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The year in brief

Return on investments

12.0%

Value of investments, € billion

48.7

Solvency, € billion

11.6

Client bonuses, € million

171  

Return on investments

Varma’s investments yielded a very strong return of 12%. All of Varma’s asset classes generated positive returns, driven by equity markets.

Solvency capital

Owing to the good investment returns, our solvency, which serves as a risk buffer, is at a strong level.

In 2019, Varma’s solvency capital rose to EUR 11.6 (9.6) billion, i.e. to 1.8 times the solvency limit.

Goals and results

Goals and results

Our objective is to secure high-quality pension provision for our customers, guarantee the positive development of premium income, foster strong solvency and operate efficiently.

  • Varma processes pensions 10 days faster than the sector average.
  • Premiums written increased 3.3%. Our new customer base increased through companies of all sizes.
  • Solvency capital is at a strong level. Varma is the most solvent earnings-related pension company in Finland.
  • Varma is the most efficient earnings-related pension company. In 2019, We used 62% of the amount of contributions reserved for operating expenses.

Pension decision in

9 days

We process pension applications swiftly. Applicants receive an old-age pension decision from on average in 9 days.

Read more about the processing of pension applications

Best customer service in Finland

Surveys show that we have the best customer service in the country. Customer satisfaction is a matter of the heart for us.

Read more about our customer service

Carbon footprint of real estate investments lowered

27%

The carbon footprint of our real estate investments diminished by 27% between 2015 and 2019. Emissions for equities and corporate bonds have also clearly reduced.

Read more about mitigating climate change

Responsibility for Varma employees

A good employee experience is key to customer satisfaction and Varma’s success.

Varma is included on the list of Finland’s Most Inspiring Workplaces and ranked second in the large corporations category in the Responsible Summer Job campaign.

Read more about our responsibility for Varma employees

Climate risks reported according to TCFD

In our TCFD report we disclose how climate-change-related risks and opportunities are managed in our investments.

We commit ourselves to developing our portfolio towards carbon neutrality in 2020–2035.

Read more in our TCFD report
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