Nordea Liv reports NOK 891m profit for H1 2024

Written by Natalie Tuck

15/07/2024

Nordea Liv Forsikring AS (Nordea Liv) made a profit of NOK 891m in the first half of 2024, up from NOK 617m for the corresponding period last year.

Its half-year results also showed that Nordea’s capital under management was NOK 236m, as of 30 June, an increase of 10% since the turn of the year.

“We see strong growth in private savings and this is an important driver for the result. More people are interested in private savings and at the same time more people are making an active choice about their own pension. The share markets have continued to develop positively, which has provided good returns for customers,” Nordea Liv CEO, Hans Erik Lind, said.

Furthermore, the market growth of Nordea’s Egen Pensjonskonto (EPK) – own pension account – measured in the number of agreements has been 18% in the first half of 2024. However, Nordea Liv continues to attract the most agreements and at the end of June, it had a market share of around 27% measured in funds for management.

“It is important for us to continue to grow and we are satisfied with being the market leader within self-selected personal pension accounts. At the same time, it is good that the market is growing in size, also among our competitors. We want as many people as possible to make active choices about their own pension, either with us or other players,” Lind said.

In regard to customer satisfaction, Nordea Liv was ranked in the top three both in the corporate market and among private customers during the second quarter.

“The customers are at the centre of our activity and therefore customer satisfaction is very important to us. We have worked very actively to improve ourselves here in dialogue with customers and we are happy that it has yielded results,” Lind said.

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