Preliminary information on the financial statements of Ilmarinen:
In 2007, the return on Ilmarinen’s investments, at market prices, was about 5.7 per cent (8.5 per cent in 2006). At year-end, the solvency margin was about 32.5 (33.7) per cent of the technical provisions, 2.0 times (2.4 times) the solvency limit.
CEO Harri Sailas describes the investment results as very satisfactory against the challenging market conditions.
"The investment income had developed well during the first three quarters of the year. The decrease in share prices towards the end of the year reduced to some extent the investment income. However, the results achieved in difficult market conditions can be considered fairly good. Our solvency remained strong in spite of the falling share prices, and this allows us to follow a return-oriented investment policy and enhance our competitiveness also going forward", he states.
Ilmarinen did exceptionally well in the employment pension insurance competition. Measured in terms of premium income, the total sales of policies increased to a record level of more than EUR 350 million, several times the average level of previous years.
"I consider the large number of new customers to be particularly delightful and an indication of trust placed upon us. Last year, we achieved the best sales results ever in the company's history", CEO Sailas says.
About EUR 74 (81) million will be allocated for client bonuses, corresponding to 0.6 (0.7) per cent of the insured total payroll.
These figures are preliminary. The press release on Ilmarinen’s official financial statements for 2007 will be published on 21 February 2008 at 10:00 am. At the same time, the company will hold a press conference for media representatives at Porkkalankatu 1, Helsinki.
Ilmarinen Mutual Pension Insurance Company
Corporate Communications
For more information, please contact:
Harri Sailas, President and CEO, tel. 010 284 3000
Jussi Laitinen, Chief Investment Officer, tel. 010 284 3838, 040 577 1416
Satu Mehtälä, Senior Vice President, Corporate Communications, tel. 010 284 3590, 050 539 8590
e-mail: firstname.lastname@ilmarinen.fi