Asset under management (AUM) at Swedish pension provider Skandia increased by SEK 56bn from the start of the year up to the end of the third quarter (Q3).

Publishing its interim results, Skandia revealed that at the end of September 2024 AUM totalled SEK 860bn, compared to SEK 804bn at the start of the year. Premiums in the group amounted to SEK 33.9bn, up from SEK 30.6bn at the beginning of 2024.

Regarding the life company, Skandia Liv, AUM amounted to SEK 621bn, compared with SEK 592bn at year-end. The total return amounted to 6.8 per cent during the first three quarters of the year. The five-year average was 5.9 per cent.

The collective funding ratio was 108 per cent, compared with 104 per cent at the start of the year. The solvency ratio in the life company amounted to 205 per cent, compared with 201 per cent at year-end.

In addition, AUM in unit-linked and custodial insurance totalled SEK 202bn, compared with SEK 179bn at year-end.

Skandia CEO and president, Frans Lindelöw, said the first nine months have been “stable” for Skandia due to its “long-term investment strategy and good risk diversification”

“During Q3 we further increased our sustainable investments and invested more than SEK 1.5bn in green bonds. Among other things, we have participated in financing programmes for Östersund and Vellinge municipalities. In addition, together with one of our selected infrastructure managers, we have invested in a leading property energy efficiency company in Germany,” he said.

He also commented on Skandia’s role in the public debate on pensions. Skandia contributed to the dialogue through its report on pension debt in Sweden's municipalities and regions and sick leave in Sweden.

“The reports show, among other things, that pension liabilities continue to increase in municipalities and regions and that mental illness is becoming an increasingly common cause of long-term sick leave,” he said.

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