Veritas sees strong increase in customer numbers in 2023

Finnish earnings-related pension provider, Veritas, has reported strong growth in customer numbers in 2023.

During the year, Veritas took on over 5,100 new TyEL and YEL insurance policies with new premium income totaling over €108.2m. At the end of 2023, almost 66,000 employees and 15,000 entrepreneurs were insured with Veritas.

"Veritas sales reached new records last year, both in terms of numbers and premium income,” Veritas CEO, Carl Haglund, said.

The company’s premium income increased by 4 per cent from the previous year, to €724m. Veritas' solvency remained at a strong level and at the end of the year was 1.6 times the solvency limit. The solvency ratio was 122.2 per cent.

Veritas investments returned 5.7 per cent during the year. Fixed-income investments returned 7.8 per cent, equity investments 8.7 per cent, real estate investments -4.1 per cent and other investments 4.8 per cent.

"In terms of returns, last year was almost a mirror image of the previous year. Fixed-income investments performed well and credit risk investments generated double-digit returns," Veritas investment director, Kari Vatanen, said.

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