Swedish Volvo Pension Scheme, VFF Pension, made a profit of TKR 873,732 profit in H1 2024, before tax, its interim results have revealed.

This is a "significant" increase from TKR 766,669 in the same period in 2023. This positive result was attributed to the return on capital.

However, premiums written for the period totalled TKR 429,726, as the regular premium payments from the Volvo Group were significantly higher than in the same period last year.

Insurance claims paid also increased from last year with them standing at TKR 119,977 in H1 2024, up from TKR 117,367.

The increase in the number of policies, net, in payment increased marginally and the amounts paid out have increased.

The capital transferred to other insurers has been lower compared to the same period last year.

In addition, since the beginning of the year, technical provisions have increased, which has contributed negatively to the result by TKR 153,640, partly due to a positive net inflow but also due to the change in the discount rate curve used in the calculation of the provision.

As a result of the positive return in H1, the result from the return on capital, including unrealised changes in the value of investment assets, amounted to KSEK 729,082.

The solvency ratio was 164 per cent at the end of June, which is higher than at the beginning of the year.

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