Finland’s Tapiola Pension returns 9.2%
FINLAND – The Tapiola Pension Mutual Insurance Company's return on investment rose to 9.2% in 2005, from 7.2% a year before.
“Tapiola Pension reached a good result 2005,” a statement said. “The total result amounted to €306.0m (€228.1m).
“The good result is especially a consequence of increased return on investment due to the favourable development on the investment markets.
The five-year average return on investment on an annual level is 6.8%. And it estimated that its market share has risen to 15.8% from 15.4%.
The company provides statutory employee pension insurance and self-employed person's pension insurance.
Assets under management at sister firm Tapiola Fund Management rose 33% to €974.3m. Tapiola Asset Management’s AUM rose 19.4% to €4.6bn.