EXAMPLE PAGE - ANNUAL REPORT - THE SWEDISH CLUB - Flipbook - Sida 24
FINANCIAL SPOTLIGHT
The value
of a strong
capital base
Interview with Mikael Kromli, Director,
Finance, Risk Management & IT
In a market where
government COVID-19
stimulus packages and
lower interest rates greatly
fuelled the equity and
money markets, The
Swedish Club continued to
take a controlled approach
to investment decisions
in 2021.
24
“Our close cooperation with financial
advisors enables us to be continuously
well-informed, and nimble in our
investment choices and decisions,” says
Mikael Kromli. “We were able to take
timely decisions and we delivered a
result that was ahead of the benchmark
we compare ourselves to.”
The year finished with a positive return
on the investment portfolio of 3.6%,
corresponding to USD 14.2 million. This
result contributed well to the Club
ending the year with a strong standing
of 181% in terms of solvency ratio
despite a challenging year entailing
underwriting losses. The Club’s free
reserves fell from USD 231.4 million to
USD 196.5 million.
“Now, going
forward, the
Club will be
emphasising
price adequacy
over growth.
A structured approach
advisor Mercer, designed to create
structured and quality assured
management of the investment
portfolio, once again proved a
successful approach.
“Equity markets developed positively in
2021 supported by generally low
interest rates,” says Kromli.
“We are an agile organisation – we think
in extended enterprise terms, so we
team up with the best,” notes Kromli.
The Swedish Club’s continued close
collaboration with global financial
He adds: “We always run our operations
within the framework and limits of our
THE SWEDISH CLUB ANNUAL REPORT 2021