The final annual general meeting of the Lífsverk Pension Fund and the first annual meeting of Almenna-Lífsverk have taken place in Reykjavík, Iceland.

In September last year, the two Icelandic pension funds, Lífsverk and Almenni, signed a merger agreement to create an ISK 667bn fund.

The meetings brought together leadership from both entities to review financial performance, actuarial positions and future strategy.

At the Lífsverk meeting, chairman of the board, Agnar Kofoed-Hansen, presented the board’s report, while managing director, Jón L. Árnason, outlined the annual accounts.

The fund’s actuarial position at year-end was reviewed by actuary, Bjarni Guðmundsson, who was also recognised for his long-standing service to the scheme.

Meanwhile, at the inaugural annual meeting of Almenna-Lífsverk, chairman, Agnar Kofoed-Hansen, again presented the board report, with managing director, Gunnar Baldvinsson, covering financial results and actuarial matters.

Meanwhile, investment manager, Kristjana Sigurðardóttir, detailed the fund’s investment policy.

Ahead of the meetings, an electronic board election was conducted to fill two vacant positions.

A total of 23 candidates stood for election, with one seat reserved for a woman.

Voting took place between 7 and 14 April.

Out of 66,946 eligible members, 1,920 participated in the election, representing 2.87 per cent of members.

Based on vote-weighted turnout, participation reached 14.58 per cent, broadly in line with previous years.

Agni Ásgeirsson and Sigríður Magnúsdóttir were elected to the board for three-year terms.

Following the meeting, the board appointed Sigríður Magnúsdóttir as chairman and Agnar Kofoed-Hansen as vice chairman.

Members also approved proposed amendments to the fund’s articles of association, while KPMG ehf. was appointed as auditor for the 2026 financial year.

The meetings represented both the conclusion of Lífsverk’s current governance cycle and the formal establishment of Almenna-Lífsverk’s annual reporting framework.

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