PRESS RELEASE 27 October 2008
• Return on Tapiola Pension’s investment portfolio at current value was -5.6% during 1 January 2008-30 September 2008.
• Return by different asset classes: equities -25.0%, fixed-income securities 2.0%, real estate investments 2.6% and other investments 3.5%.
• Solvency ratio at the end of September was 11.1% and 1.4 times the solvency limit.
• At the end of September, the market value of the company’s investment was EUR 7,557.2 million (EUR 7,869.7 million 12/2007).
- The result can be considered tolerable when taking into account the financial crisis impact on the market conditions. Our investment allocation, i.e. proportion of different investment classes, is very risk conscious. Tapiola Pension’s solvency has exceeded the solvency limit also in October , Managing Director Satu Huber states.
The stabilization plan for pension institution solvency presented to the Finnish Government would on the basis of the situation on 30 September 2008 increase Tapiola Pension’s solvency ratio over the level of 20.0% and the solvency position to the value 3, i.e. clearly within the earlier target zone.
During the report period, Tapiola Pension’s premium income increased by 12.5 per cent to approximately EUR 1,070.0 million. The claims paid amounted to approximately EUR 880.0 million.
The financial figures of this press release are unaudited.
Managing Director Satu Huber
(09) 453 2619