Sweden’s KPA Pension made a return of SEK 145,944 in 2020, according to its solvency and operations report.

It said the positive results is mainly due to a positive development for equities. Equities accounted for approximately 32 per cent of total assets at the end of the year, with the total result for equities amounting to SEK 101,972,000.

The share of interest-bearing investments in the portfolio was approximately 61 per cent at the end of the year. The return on interest-bearing investments was positively affected by falling interest rates and amounted to SEK 45,225,000.

“The year 2020 has otherwise been marked by a pandemic that has hit the whole world with force in various waves. Measures to protect people and reduce the consequences of the pandemic continue and affect the entire economy, and many of KPA Pension's partners and customers have been hit hard by the crisis,” it stated.

It said that KPA Pension’s financial strength enables, even in the event of continued turbulence in the financial markets, a focus on continuing to create value for customers with a long-term perspective.

In February this year, Finansinspektionen approved KPA Life Insurance's application to transform the company into an occupational pension company. The conversion to KPA Tjänstepension took place on 1 March 2021.

It means that KPA Tjänstepension will be among the first Swedish occupational pension companies to fully accede to the new European rules for occupational pension companies (IORP II Directive), which were introduced in Sweden at the turn of the year 2019/2020.

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