1973 AMF Pension is established to handle STP, a supplementary pension scheme for non-salaried employees in the private sector. Business was conducted in collaboration with SPP. From the onset, AMF Pension focused on low costs and economies of scale.
1992
AMF Pension branches off from SPP and is established as an independent company.
1996
SAF (the Swedish Employers' Association) and LO (the Swedish Trade Union Confederation) decide to replace the defined-benefit STP plan with the defined-contribution SAF-LO Contractual Pension plan. At the same time, the decision is made to open up the plan to competition, starting in 1998. Work is started on building a brand and creating awareness about the company. The slogan "A little more to live on" is launched as part of the company's brand image.
1998
A pension selection process is carried out, where 927,000 insureds under the SAF-LO Contractual Pension plan are given the opportunity to individually choose a pension management company. In competition with the major insurance companies, AMF Pension succeeds in retaining over 60 per cent of its customers.
AMF Pension starts a fund management company and unit-linked insurance company in order to offer unit-linked products to pension-savers.
AMF Pension begins offering private pension savings and ITPK insurance (a complementary occupational pension for salaried employees).
1999
As the decade comes to a close, AMF Pension's asset management can point to a strong record of returns. The average annual total return for the period 1992-1999 was 15.7 per cent, laying the foundation for the company's strong finances.
2000
AMF Pension is the second most popular company in the premium pension (PPM) selection process.
In the process of choosing a manager for their occupational pension plans, municipal and county council employees choose AMF Pension more than any other company, accounting for 36% of active choices.
2001
Work is begun on clarifying AMF Pension's future business strategy. An ambitious line-up of projects are initiated to chart out a strategy, organisation, competence succession and financial control according to the concept of being "The Pensions Company".
2002
"PA 03" is carried out – a pension selection process in which approximately 195,000 government employees are given the opportunity to choose a company and form of savings for their occupational pension plans. The process is a success for AMF Pension, which is the second most popular company, with 35 per cent of active choices.
AMF "Active" is introduced, a new private pension savings product. AMF Active is a flexible solution that gives policyholders a convenient means of switching their pension savings between traditional life and unit-linked insurance management.
Transfer rights are introduced for all private pension savings.
2003
AMF Pension expands its successful venture into the Corporate market. Among other things, the company is awarded the assignment of handling early retirement pensions for Ericsson employees.
2004
Due to financial strains, many life companies are forced to reduce their pension benefits and rescind previously allocated bonuses. Owing to strong finances and proficient asset management, AMF Pension did not have to resort to either of these measures.
2005
The Swedish Financial Supervisory Authority presents its "traffic light" system for supervising life insurance companies. As one of the market's financially strongest companies, AMF Pension announces an extra bonus allocation, giving policyholders a combined total of SEK 35 bn in pension bonuses. To meet new requirements made by the Financial Supervisory Authority and others, AMF Pension establishes a strategic risk management unit. A separate corporate governance unit is also established.
2006
According to an agreement between the Confederation of Swedish Enterprise and the Swedish Trade Union Confederation (LO), surpluses arising from successful asset management are to be apportioned among the employers. In 2006 such surplus was repaid to the employers by waiving them from payment of SEK 10 billion in premiums toward the SAF-LO Contractual Pension plan and waiver of premium insurance with AFA Insurance.
In spring 2006, a major step is taken in the Swedish pensions market, with the conclusion of negotiations between the Confederation of Swedish Enterprise and PTK (the Council for Negotiation and Co-operation) on a new ITP plan. The agreement opens up the ITP market to competition with a new agreement that will apply for all salaried employees born in 1979 and later.
2007
AMF Pension was named eligible option for both traditional life insurance and unit link insurance in the new ITP plan. The results of the first choices made by savers showed that AMF Pension was picked by 45 per cent of those who made an active choice. In unit link insurance AMF Pension was number one among those who actively made a choice, with 29 per cent of premiums, and it was number two in traditional life insurance with 27 per cent of premium volume. This means that AMF Pension is the most selected occupational pension company in all pension plans among those who have made an active decision.
In May AMF Pension paid an extra dividend of SEK 7.6 billion to 2.7 million savers. Including this AMF Pension’s average dividend interest rate was 14.7 per cent last year, the highest of all occupational pension companies.
2008 In December 2008, it was announced that AMF had again been entrusted with the role of default service pension selection for private sector employees. This means that service pensions for those not making an active choice of manager will automatically be assigned to the manager determined by the parties, that is, AMF and our new traditional life insurance. AMF Pension was also designated as an option for both traditional and unit-linked insurance. The new agreement came into effect on 1 January 2009. In 2008, the company launched a new visual identity. This entailed that the Parent Company formally changed name to AMF Pensionsförsäkring AB, abbreviated AMF. In addition, AMF Pension Fondförvaltning AB changed name to AMF Fonder AB and AMF Pension Fastighetsförvaltning AB changed name to AMF Fastighetsförvaltning AB.
2009 In the autumn, private sector employees selected their pension fund managers (SAF-LO collective agreement occupational pensions). AMF's market share was slightly more than 68 percent, equivalent to 726,000 savers actively or passively entrusting AMF with the management of their occupational pensions. This made AMF the only company that could be selected for both unit-linked and traditional insurance in all four major collective agreement areas (SAF-LO, ITP, KAP-KL and PA03). In February, AMF implemented the first reallocation in the company's history (8 per cent). The reallocation was a consequence of the sharp stock market declines in late 2008 and early 2009. Despite the reallocation, AMF is the life insurance company that has generated the greatest total yield in the past 15 years.
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