Nordea Liv has posted a pre-tax profit of NOK 475m for the third quarter, an increase of NOK 83m on the NOK 392m achieved in the same period last year.

It also brings its pre-tax profit for the year-to-date to NOK 1,271m. During the quarter, premium income rose to NOK 26.5bn, a 4 per cent increase from last year, while Assets under management (AUM) grew to NOK 271bn, up 11 per cent.

Nordea Liv CEO, Hans-Erik Lind, said the quarter delivered “solid results” for its customers.

Furthermore, the provider continued to see positive development in its self-selected defined contribution pension accounts (EPK) offering, where it remains the largest player in the market.

“We’ve seen tremendous growth in self-selected EPKs. Nordea Liv now manages 29.4 per cent of the pension assets in this market – nearly twice as much as the next largest player,” Lind said.

“One in every five pension kroner we manage now comes from customers who have chosen a self-selected EPK. We see that people are becoming increasingly engaged in making conscious decisions about their own pensions. Those who take an active role tend to choose higher equity allocations, which we know generally leads to a higher pension when they retire.”

The company also detailed several key partnerships it has entered into during the year, including the health technology company ABEL Health, and in the third quarter, the Association of Consulting Engineers (RIF).

“Both agreements are key steps in our work to reduce sick leave and disability among people of working age. This is part of a broader effort we’re carrying out across industries together with ABEL, and specifically for the engineering sector in cooperation with RIF,” Lind said.

The agreement with RIF is the largest in the market this year and covers 16,000 members. One of the shared goals of the collaboration is to reduce sickness absence and disability in the industry.

Through the agreement with ABEL, employees at risk of dropping out of the workforce will receive personal follow-up and health guidance.

“These initiatives have previously delivered very strong results, and we look forward to offering them to RIF’s members as well. The goal is to reduce exclusion from working life and help more people stay employed in the years ahead,” Lind concluded.

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