var sdkInstance="appInsightsSDK";window[sdkInstance]="appInsights";var aiName=window[sdkInstance],aisdk=window[aiName]||function(e){function n(e){t[e]=function(){var n=arguments;t.queue.push(function(){t[e].apply(t,n)})}}var t={config:e};t.initialize=!0;var i=document,a=window;setTimeout(function(){var n=i.createElement("script");n.src=e.url||"https://az416426.vo.msecnd.net/scripts/b/ai.2.min.js",i.getElementsByTagName("script")[0].parentNode.appendChild(n)});try{t.cookie=i.cookie}catch(e){}t.queue=[],t.version=2;for(var r=["Event","PageView","Exception","Trace","DependencyData","Metric","PageViewPerformance"];r.length;)n("track"+r.pop());n("startTrackPage"),n("stopTrackPage");var s="Track"+r[0];if(n("start"+s),n("stop"+s),n("addTelemetryInitializer"),n("setAuthenticatedUserContext"),n("clearAuthenticatedUserContext"),n("flush"),t.SeverityLevel={Verbose:0,Information:1,Warning:2,Error:3,Critical:4},!(!0===e.disableExceptionTracking||e.extensionConfig&&e.extensionConfig.ApplicationInsightsAnalytics&&!0===e.extensionConfig.ApplicationInsightsAnalytics.disableExceptionTracking)){n("_"+(r="onerror"));var o=a[r];a[r]=function(e,n,i,a,s){var c=o&&o(e,n,i,a,s);return!0!==c&&t["_"+r]({message:e,url:n,lineNumber:i,columnNumber:a,error:s}),c},e.autoExceptionInstrumented=!0}return t}( { instrumentationKey:"e0d09fd7-66d8-492a-9be1-1bddb519a28e" } );window[aiName]=aisdk,aisdk.queue&&0===aisdk.queue.length&&aisdk.trackPageView({});
Skip to content

Financial information & investments

Our investments are guided by many principles of responsibility. We publish information about our results four times a year.

  1. Front page
  2. Financial information & investments

Solvency secured Varma’s pension assets in sudden economic stop

Varma’s solvency remained at a good level in the first quarter of 2020, even though the coronavirus pandemic that spread worldwide stopped the economy in its tracks. The market value of investments was EUR 43.6 (48.7 on 1 Jan) billion. Varma is helping companies get through the most difficult months by allowing flexibility in insurance contribution payments and rents.

Interim report news release
Interim report presentation (pdf)
Interim report 1 January – 31 March 2020 (pdf)

Varma’s investments

Varma invests the assets collected as pension contributions profitably and securely for current and future pensions. At the end of March 2020 the market value of Varma’s investments stood at EUR 43.6 billion, of which 27%, i.e. EUR 11.9 billion, is invested in Finnish society. We mainly invest in fixed income, equities, real estate, and hedge funds.

Read more about our investment principles (pdf)

Solvency

Varma’s solvency weakened since the start of the period, but the company’s solvency position remained good. The solvency capital, which serves as a risk buffer for investment operations and insurance risks, was EUR 7,870
million at the end of March, and pension assets in relation to the technical provisions were 121.6%. Varma’s solvency capital was on a sustainable level, i.e. 1.6 times the solvency limit. More information is available in our news release.

Strong solvency upholds confidence in pension provision. Better investment returns mitigate the pressure to increase pension contributions. Varma’s strong solvency benefits our clients through lower insurance contributions.

In good investment years, investment returns are used to increase the solvency capital, while in lean investment years, the solvency capital shrinks. Good solvency enables Varma to aim for higher returns by making higher-risk investments. As a rule of thumb, one percentage point more in investment returns in the long term means a two-percentage-point drop in pension contributions.

Varma's climate policy

Varma has nenewed its climate targets for 2020-2035. We aim for a carbon-neutral porfolio by 2035.

Responsible investment

Varma invests in a responsible manner. We incorporate responsibility system-atically in all our investment operations.

We require that our investees comply with international agreements and standards, the most important of which are:

  • The UN Global Compact initiative on corporate responsibility
  • The OECD guidelines for multinational enterprises
  • The ILO labour conventions

The topics covered by Varma's principles for responsible investment include mitigating climate change, which is one of Varma's CSR targets. Because this topic is so important and topical, we have drawn up a separate climate policy (pdf). Responsibility in also included in our ownership policy (pdf).

Varma has signed the UN Principles for Responsible Investment (PRI) and published a PRI responsible investment report:

Varma has also signed the CDP (formerly Carbon Disclosure Project), and joined the PRI-supported Montréal Pledge initiative.

Read more about Varma's sustainability

Share ownership policy

Market sounding

Varma requires the disclosing market participant to be compliant with EU's Market Abuse Regulation (MAR).

The disclosing market participant must follow Varma's procedure for market sounding purposes.

Previous financial information

Read more

Annual Reports

Read more

Current issues

Drawing inspiration from the forest, Spring wins architectural competition for Katajanokan Laituri
News
24.06.2020
Nature themes are highlighted in the competition entries for the wooden office building in Katajanokka – the submissions for the architectural competition have been published
News
25.05.2020
Solvency secured Varma’s pension assets in sudden economic stop
News
29.04.2020
Varma’s client bonuses for 2020 have been calculated
News
27.03.2020
Varma’s Annual and Sustainability Report includes disclosures on climate-related risks in accordance with the TCFD
News
12.03.2020
(function (w, d, s, l, i) { w[l] = w[l] || []; w[l].push({ 'gtm.start': new Date().getTime(), event: 'gtm.js' }); var f = d.getElementsByTagName(s)[0], j = d.createElement(s), dl = l != 'dataLayer' ? '&l=' + l : ''; j.async = true; j.src = '//www.googletagmanager.com/gtm.js?id=' + i + dl; f.parentNode.insertBefore(j, f); })(window, document, 'script', 'dataLayer', 'GTM-MJL5CR'); (function(w, t, f) { var s='script',o='_giosg',h='https://service.giosg.com',e,n;e=t.createElement(s);e.async=1;e.src=h+'/live/'; w[o]=w[o]||function() {(w[o]._e=w[o]._e||[]).push(arguments)} ;w[o]._c=f;w[o]._h=h;n=t.getElementsByTagName(s)[0];n.parentNode.insertBefore(e,n); })(window,document,3860); (function(h,o,t,j,a,r){ h.hj=h.hj||function(){(h.hj.q=h.hj.q||[]).push(arguments)}; h._hjSettings={hjid:928553,hjsv:6}; a=o.getElementsByTagName('head')[0]; r=o.createElement('script');r.async=1; r.src=t+h._hjSettings.hjid+j+h._hjSettings.hjsv; a.appendChild(r); })(window,document,'https://static.hotjar.com/c/hotjar-','.js?sv='); var _paq = _paq || []; /* tracker methods like "setCustomDimension" should be called before "trackPageView" */ _paq.push(["setCookieDomain", "*.varma.fi"]); _paq.push(["setDomains", ["*.varma.fi"]]); _paq.push(['trackPageView']); _paq.push(['enableLinkTracking']); (function() { var u="//piwik.varma.fi/piwik/"; _paq.push(['setTrackerUrl', u+'piwik.php']); _paq.push(['setSiteId', '1']); var d=document, g=d.createElement('script'), s=d.getElementsByTagName('script')[0]; g.type='text/javascript'; g.async=true; g.defer=true; g.src=u+'piwik.js'; s.parentNode.insertBefore(g,s); })();