Annual Report - Varma

A secure future for everyone

A secure future for everyone

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 sustainable for future generations.

The year in figures

Return on investments


Value of investments,  € billion


Solvency, € billion




Goals and results

Goals and results

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

  • Nearly 90% of new pension recipients received their first pension payment in the first month of their pension entitlement.
  • Despite the Covid-19 pandemic, Varma’s solvency capital remained strong throughout the year.
  • Varma’s efficiency further improved, and we are the most efficient pension insurance company. We used 61% of the amount reserved for operating expenses.
  • The total payroll, which is the foundation for contribution income, increased, Varma received insurance portfolios from company pension funds and customer retention remained good.