Population mortality in Sweden has returned to the normal level compared to the elevated level of mortality seen during the pandemic year of 2020, Insurance Sweden has revealed.

Its Mortality Survey 2023 follows on from the previous survey published in December 2021. Insurance Sweden said the forecasts of policyholders' mortality have been updated, both based on improvements in the model and based on population mortality for the years 2021–2022.

The Mortality Survey 2023 also found that insured people are expected to live longer than the average for the entire population. Of the compulsorily insured, white-collar workers live longer than municipal and regional employees, who in turn live longer than labourers.

Commenting, Insurance Sweden actuary, Kia Buranakol Issa, said: “Policyholders have a longer life expectancy compared to the average for the population, which is also what we have seen in previous mortality surveys.”

Men who have reached the age of 65 are expected to live until they are 86.3 years old, while women are expected to live until they are 88.3 years old. Men who have voluntary, non-collectively agreed occupational pension insurance are expected to live the longest, 2.2 years longer than the average man. Women live the longest with voluntary, non-collectively agreed occupational pension insurance. They are expected to live to 89.6 years.

Insurance Sweden noted that there is a greater proportion of people with good finances who take out these insurances and it has long been known that individuals with higher finances have better health.

The compulsorily insured, with occupational pension insurance resulting from employment with a collective agreement, live shorter than the voluntarily insured, but still longer than the rest of the population. Men live 0.9 years longer than the average man and women 0.2 years longer than the average woman.

The survey also reports updated so-called Makeham parameters, which now follow an improved adaptation model. The Makeham law of mortality sets out that the risk of death increases exponentially with age.

“It is gratifying to be able to meet the demand for better adapted Makeham parameters and more detailed analyses so quickly after the previous mortality survey. It is the result of intensive work during the spring together with actuaries from a number of insurance and occupational pension companies. The commitment shows the importance of mortality research in the insurance market,” Buranakol Issa concluded.

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