Technical provisions

Varma’s technical provisions grew 5.5 (2.7) per cent to EUR 31,399 (29,767) million. They contain a provision of EUR 106 (79) million for current bonuses reserved for client bonuses, a provision of EUR 1,301 (1,073) million for future bonuses contained in the solvency capital, and EUR 720 (190) million in an equity-linked provision for current and future bonuses, which transfers part of the equity returns of the earnings-related pension system to create a buffer. The equalisation provision amounted to EUR 1,118 (1,108) million.

At the end of the year, the assets covering the technical provisions were 121 (118) per cent of the technical provisions.