Financial information and investments
In the last quarter of the year, the return on Veritas’ investments amounted to 1.8 per cent, but the overall return for the year remained negative at -4.5 per cent. Fixed-income investments generated a return of -7.4 per cent, equity investments a return of -8.4 per cent, real estate investments 3.3 per cent and other investments 10.3 per cent.
”Investment return was positive in the latter half of the year despite the difficult market environment. Alternative investments served as the bright spot of the year, with their positive development mitigating the negative return impact of the equity and fixed-income markets,” says Veritas’ Chief Investment Officer Kari Vatanen.
Veritas solvency position was at a solid level at the end of the year: 1.7-fold compared to the solvency limit. The solvency ratio amounted to 123.5 per cent.
- Financial statement presentation 2022 (pdf)
- Press release: Veritas in 2022: Euro-sales reached record heights (17 February 2023)
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Investment allocation by asset class
31 December 2022
Investment activities
We invest our accrued funds profitably and securely as a means of ensuring future pensions. The aim of our investment activities is to achieve the best possible return in order to ensure sustainable funding for pensions.
Our investment activities are professional, independent and responsible. We utilise a wide range of different revenue sources and diversify our investments internationally among different asset classes. Our investments comprise fixed-income investments, equity investments, real estate investments and other alternative investments.
Solvency
Veritas solvency position was at a solid level at the end of the year: 1.7-fold compared to the solvency limit. The solvency ratio amounted to 123.5 per cent.
The solvency capital serves as a risk buffer for the purposes of our investment activities and against insurance risk. It determines the pension provider’s capacity to bear risk and pursue higher returns on investment activities. High investment returns increase a pension provider’s solvency and, correspondingly, the solvency decreases during weaker investment years.
Veritas’ solid solvency position safeguards pension
