Annual Report 2014


Group companies and associates

At the end of 2014, the Varma Group comprised 186 (205) subsidiaries and 24 (22) associates. The most important subsidiaries and associates are Tieto Esy Ltd (50.1 per cent), Garantia Insurance Company Ltd (30.5 per cent), SATO Corporation (22.8 per cent), Technopolis Plc (23.9 per cent), Certeum Oy (38.9 per cent) and NV Kiinteistösijoitus Oy (45.0 per cent). The Varma Group also owns 50 per cent of the guarantee capital of Kaleva Mutual Insurance Company. Most of the subsidiaries and associate companies are real estate companies. An agreement concerning the divestment of Garantia Insurance Company’s shares has been drawn up, and the transaction is expected to take effect at the end of March 2015.