Swedish pension company KPA Pension returned 5.5 per cent in the first six months of 2024, up from 4.9 per cent during the same period last year, its half-year results have shown.

Over the past five and 10 years, the annual average return was 5.5 per cent and 5.6 per cent respectively.

In the first half of 2024, the solvency ratio was 243 per cent, up from 239 per cent in the first six months of 2023.

The premium income for KPA occupational pension insurance rose from SEK 15.5bn in H1 2023 to SEK 17.7bn in the first half of 2024.

The rate of return for KPA defined benefit pensions also rose, from 1.2 per cent in H1 2023 to 2.1 per cent in H1 2024.

Total managed capital increased from SEK 277bn in the first half of 2023 to SEK 324bn in the first six months of 2024.

“This year too, we have improved our results and increased premium income, partly as a result of the new AKAP-KR pension agreement where, among other things, the pension provision has been increased,” commented KPA Pension CEO, Camilla Larsson.

“We are now beginning to see that our long-term work in developing the pre-selection product is contributing to an even better return for our customers.

“We have continued to invest in green municipal bonds and are, according to a recurring customer survey, the pension company that is the best in terms of sustainability.”

---