IPF årsrapport 2018 (eng) - Flipbook - Side 3
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1
Financial and operating data, summary of
financial statements
Table 1
Financial and operating data
DKK mill.
2014
2015
2016
2017
2018
6,737
7,223
7,206
8,046
8,429
Income statement items
Premiums
Investment returns
12,432
8,539
11,033
12,161
-1,699
Tax on yields of certain pension-scheme assets
-1,878
-1,316
-1,686
-1,683
329
Insurance benefits
Total change in insurance provisions and excess capital
Insurance operating costs
Result of sickness and accident insurance
Other items
Comprehensive income for the year
-5,280
-3,931
-4,682
-4,657
-5,321
-11,036
-10,296
-11,232
-13,182
-1,345
-113
-37
-113
-124
-124
30
39
41
40
47
-686
-103
-362
-213
-205
206
118
204
388
111
23,780
23,346
22,588
23,319
23,774
Assets
Investment assets
Investment assets attached to market-rate products
114,952
122,460
130,930
141,743
145,593
Other assets
3,554
3,879
3,848
5,078
2,647
Total assets
142,286
149,685
157,366
170,140
172,013
4,472
4,590
4,794
5,182
5,293
Equity and liabilities
Equity
Subordinate loan capital (special bonus provisions)
Provisions for insurance and investment contracts
Other liabilities
4,020
4,019
4,057
4,111
4,019
121,195
131,532
143,297
156,748
158,596
12,598
9,544
5,217
4,099
4,105
142,286
149,685
157,366
170,140
172,013
Recognised own funds (capital base 2014-2015)
8,487
8,606
8,851
9,293
9,312
Solvency capital requirement
1,413
1,410
2,116
2,459
2,709
Total equity and liabilities
Financial ratios
Return before tax on yields of certain pension-scheme assets
Costs per member
Solvency ratio *
Number of members carried forward
11.0%
6.7%
8.2%
8.2%
-1.0%
DKK 261
DKK 84
DKK 250
DKK 278
DKK 272
601%
610%
418%
378%
344%
396,403
399,770
402,205
406,514
410,801
* Recognised own funds as % of the solvency capital requirement
Income statement
Premium income (excl. premiums for sickness and
accident insurance and after withholding income
tax (A tax) and social security contributions)
amounted to DKK 8.4 bn. in 2018. This is an
increase of DKK 4.8% compared to last year.
The number of economically active members who
pay pension contributions via their employer
increased by about 3,400 in 2018, and over the
past five years there has been an increase of
almost 12,000, corresponding to about 8%.
2018 ended with heavy decline in prices on the
financial markets, and this resulted in negative
returns on the majority of global listed markets.
As a result, for the first time at 16 years,
investment returns were negative. Investments in
listed shares, credit bonds and emerging markets
bonds were particularly detrimental to returns,
while investments in unlisted shares, property
and infrastructure gave good investment returns.
Total investment returns ended at DKK -1.7 bn.
after costs, compared with DKK 12.1 bn. in 2017.