Technical provisions

Varma’s technical provisions grew 2.1 (5.5) per cent to EUR 32,070 (31,399) million. They contain a provision of EUR 117 (106) million for current bonuses reserved for client bonuses, a provision of EUR 753 (1,301) million for future bonuses contained in the solvency capital, and EUR 1,007 (720) 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 1,180 (1,118) million.

At the end of the year, the assets covering the technical provisions were 126 (121) per cent of the technical provisions.