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LocalTapiola Life’s premium income exceeded half a billion euros for the first time

1.3.2018 - Economy

LocalTapiola Life's growth in premium income was 22.4 per cent.

LocalTapiola Life's operating profit was EUR 48.4 million (EUR 63.4 million) and its total result was EUR 64.0 million (EUR 72.7 million). Premiums written were EUR 516.0 million (EUR 421.7 million).

The company's solvency position in accordance with the Solvency II framework was strong with a solvency ratio of 191,5 per cent.

Comments by LocalTapiola Life CEO Minna Kohmo:

"For us, the year 2017 was good. For the first time, ourpremiums written increased to over half a billion euros. The growth in premium income was strong. Premium income increased by 22.4 per cent to EUR 516 million. Our result was at a good level.

The sales were good in all our lines of insurance, but the development in savings insurances was especially strong.

Our operations are centred around improving the lifelong security of our customers. One part of lifelong security is finan-cial self-sufficiency. Last spring, we launched an entirely new type of asset management concept. It provides all our cus-tomers with the investment instruments and benefits of a large investor. The solution involves investing our customers' assets in the same instruments as the investments made by LocalTapiola Life. Customers have welcomed the revamp, as demonstrated by strong demand.

We help our customers adopt a healthier lifestyle. We added new well-being services to our highly popular Smart Life Insurance."

See the profit and loss account from here: