Finland’s Veritas returns 6.7% in first nine months of year

Written by Natalie Tuck

30/10/2024

Finnish pension insurer, Veritas, made a return of 6.7% in the first nine months of 2024, its interim results reveal.

Publishing an update on its performance, fixed income investments returned 5.3%, equity investments 10.4%, real estate 1.1% and other investments 4.4%.

Commenting, Veritas CIO, Laura Wickström, said: "The volatility or fluctuations in the market have been strong during the third quarter of the year, both in the fixed income and equity markets.

"Of Veritas' investments, equities generated the best returns, but fixed income investments also produced good returns. Fixed income investments are a good way to spread the equity risk."

In addition, Veritas said it is on track for a “record-breaking” year for customer acquisition, with sales increasing by over 50% compared to last year. Its premium income is expected to increase by more than 5% this year and the payroll of companies insured by Veritas by almost 7%.

Commenting, Veritas CEO, Carl Haglund, said: "Veritas has grown strongly in recent years. We have broken our previous records three years in a row and this year will be the fourth.”

According to Haglund, the reason for the growth is a strong focus on service.

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