Swedish occupational pension providers’ assets increased by SEK13bn to SEK3.445trn in the first quarter of 2026, equivalent to an increase of 0.4 per cent, according to figures published by Insurance Sweden.

Traditional life insurance accounted for 90 per cent of occupational pension assets at the end of the quarter, while unit-linked insurance represented 10 per cent.

Insurance Sweden said the distribution between the two has remained relatively stable over time.

During the quarter, assets in traditional life insurance increased by 0.8 per cent, while assets in unit-linked insurance fell by 3.4 per cent.

The increase in occupational pension assets came despite a marginal decline across Sweden's insurance and occupational pensions sector as a whole.

Total assets held by insurance and occupational pension providers fell by SEK11bn, or 0.1 per cent, during the first quarter to SEK 8.25trn.

Insurance Sweden said the decline was driven by life insurance companies, whose assets fell by 0.8 per cent, or SEK36bn, to SEK4.266trn.

Commenting, Insurance Sweden economist, Jonas Söderberg, said: "The war in Iran led to a decline in the stock market during the quarter. Unit-linked and custodial insurance products have a high proportion of equities and equity funds, meaning they are more heavily affected by developments in the stock market.

“For life insurance companies, unit-linked and custodial insurance make up a significant share of assets, which largely explains why assets fell for these companies.”

In terms of asset allocation, shares and funds continued to represent the largest share of traditional life insurance portfolios held by insurers and occupational pension providers.

Occupational pension providers held 54 per cent of their traditional life insurance assets in shares and funds, compared with 52 per cent for non-life insurers and 48 per cent for life insurance companies.

Bonds and other interest-bearing assets also accounted for a significant proportion of portfolios.

Across traditional life insurance portfolios, assets increased by 1 per cent, or SEK40bn, during the first quarter. Holdings in bonds and other interest-bearing assets rose by 3 per cent (SEK47bn), while property assets increased by 2 per cent (SEK4bn).

By contrast, assets invested in shares and funds fell by 2 per cent (SEK39bn).

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