Finnish earnings-related pension provider, Veritas, has reported a return of 12.6 per cent for 2021, equivalent to €0.5bn.

The pension provider said it is its best result of the 21st century. Verita's investments gave a return of 4 per cent during the last quarter of the year and a return of 12.6 per cent throughout the year. Equity investments returned 25.2 per cent, real estate investments 9.5 per cent, fixed-income investments 1.6 per cent and the other investments 7.4 per cent.

“Veritas achieved a strong result in investment operations and customer acquisition. Customer loyalty improved further during the year and we also gained a record number of new customers,” Veritas acting CEO, Tommy Sandås, said.

During the year, Veritas received almost 4,600 new ArPL and YEL insurances. Measured in euros, the new premium income totalled over €80m. At the end of the year, 78,000 people were insured with Veritas and the company also paid pensions to almost 38,000 people.

The year was difficult for many of Verita's customer companies and business customers. Smaller companies in the service industry have had a difficult time during the coronavirus pandemic.

"Now it seems that the restrictions will soon be lifted. This is very important because the pandemic has caused great losses for many entrepreneurs and companies,” Sandås said.

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