Nordea Liv grew its personal pension (egen pensjonskonto) market share to 17.6 per cent in the first quarter, up 1.2 percentage points from the same period last year.

Publishing its results for the first quarter, Nordea Liv reported a pre-tax profit of NOK 437m, up 23 per cent year-on-year, alongside continued growth in assets under management and strong premium income.

Total assets under management rose to NOK 285bn, an increase of 17 per cent from the same period last year, while premium income reached NOK 14.9bn, up 61 per cent year-on-year.

Net capital inflow for the quarter came in at NOK 8.2bn, compared with NOK 1.5bn a year earlier, reflecting increased activity in both employer-selected and self-selected personal pension accounts, as well as higher volumes in investment-linked pension products.

The strongest growth was seen in Nordea Liv’s personal pension offering, where customer activity continued to accelerate. The company’s market share in self-selected personal pension accounts rose to 29 per cent.

Interest in individual pension savings also increased sharply, with January sales three times higher than the same month last year, partly driven by a higher savings threshold.

“We are seeing particularly strong development within personal pension accounts, and we are maintaining a strong position in the self-selected solution. It is especially encouraging that more customers are taking an active role in their own pension,” Nordea Liv CEO, Anders Granstad, said.

The company also reported an improvement in customer satisfaction, with a rising Net Promoter Score indicating a higher share of satisfied customers.

“We are combining growth with cost-efficient operations and improved customer satisfaction,” Granstad added.

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