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LocalTapiola Life January-June 2019 - Our customers’ trust in the services of LocalTapiola Life keeps getting stronger

20.8.2019 - Talous

The Finnish peoples’ trust in the products of LocalTapiola Life has become stronger still. LocalTapiola Life’s market share of group pension solutions has increased from 12 percent to 20 percent in the past four years.

LocalTapiola Life has also increased its market share in risk life insurance and LocalTapiola Life continues to be the mar-ket leader in risk life insurance in Finland.

LocalTapiola Life generated good profit from January to June. Both the operating profit and overall result increased from the previous year due to a good result from improved interest rate movement. Operating profit amounted to EUR 107 (68) million and the overall result was EUR 144 (35) million.

Net investment income at fair value was 4,3 % or EUR 130 million at the end of the second quarter (1,3 % or EUR 35 mil-lion). The result for risk premiums collected was good at EUR 16 (16) million. Load income and premium refunds in-creased by 3 % and the treatment cost ratio has improved.

Premium income increased to EUR 243 (237) million.

The company's solvency ratio in accordance with the Solvency II framework is strong. LocalTapiola Life has 1,8 times the capital required by the Solvency II capital adequacy ratio.

Balance sheet at fair values is EUR 5,5 billion.

Comments by Minna Kohmo, LocalTapiola Life's Managing Director:

We are extremely happy that our customers’ trust in the products of our company has increased further. We’ve increased our market share in group pension solutions by eight percentage units in four years. We’ve also increased our market share in risk life insurance and maintained our position as market leaders in risk life insurance. Already over 20 000 finns have taken LocalTapiola’s new investment service to heart. This service makes the benefits of a major insurance compa-ny's investment activities available to all of our customers.

The well-being services found in Smart Life Insurance, which combines financial security and well-being, are now a part of the TerveysHelppi –app. Now the services are more easily reachable by our customers. We have also improved the ser-vices for our savings customers. We have made it easier to make assitional investments online. In addition, we are focus-ing on improving digital transactions in group life insurance.

Our customers are increasingly interested in doing business with us digitally. In 2019 we will continue to improve our digital services in order to improve customer experience. Our aim is to be a pioneer in personal insurance customer experience.

The figures have not been revised.