Varma - Annual Report 2012

We invest pension assets profitably and securely

With EUR 34.4 (31.9) billion in investment assets, Varma is Finland's largest private investor. Responsibility for pensions extends long into the future, and, through a controlled risk profile, we strive for the best possible return on investments in order to secure the payment of pensions. We safeguard our solvency in order to ensure that pension liabilities are covered at all times.

Strong solvency provides security against market fluctuations

Economic uncertainty characterised the markets in 2012. In the challenging market situation, Varma continued to focus on broad diversification of investments and cautious risk management.

During uncertain periods, Varma's goal of maintaining strong solvency under all circumstances was more important than ever. We succeeded well in achieving this key goal: solvency strengthened clearly and is at a strong level. At the end of 2012, Varma's solvency capital was EUR 7,716 million (6,520), or 28.0 (24.8) per cent of the technical provisions.

We promote work carried out in Finland

In accordance with our ownership policy, we promote work in Finland through active involvement in the investment markets. We are an active and prominent shareholder in Finnish companies. We participate in the financing of companies operating in Finland in many ways and are a significant investor in Finnish real estate.