Varma - Annual Report 2012

Key figures 2012

Varma handles its task of implementing pension cover efficiently. Good operational efficiency benefits our customers by means of client bonuses. In 2012, EUR 78 (73) million was transferred to the provision for current bonuses for client bonuses. The transfer represents roughly 0.4 (0.4) per cent of the estimated payroll of the insured.

The value of Varma's investments increased during the year, yielding a return of EUR 2.5 (-0.7) billion. The total return on investments was 7.7 (-2.1) per cent. Varma's premium income and pension payments increased.

Key figures, Parent Company
20122011
Premiums written, € million4,230.73,976.6
Pension payments to pensioners, € million 14,500.54,194.0
TyEL insured 31 December498,500498,400
YEL policies41,28041,940
Pensioners331,400330,000
Investments, € million34,406.031,852.1
Investment income, € million2,492.3-711.0
Return on invested capital, %7.7-2.1
Total result, € million1,201.4-1,377.7
Loading profit, € million21.235.3
Operating expenses as % of loading profit8473.0
Transfer to client bonuses, € million78.073.0
% of TyEL payroll0.40.4
Technical provisions, € million29,766.628,965.5
Solvency capital, € million7,716.36,520.4
Solvency capital/technical provisions, % 228.024.8
Solvency capital/solvency limit2.42.5
Parent company staff 31 December567580
1Before the reduction of received clearing of pay-as-you-go (PAYG) pensions
2Ratio calculated as a percentage of the technical provisions used in calculating the solvency limit