AMF Pension is established to handle STP, a supplementary defined benefit pension scheme for workers in the private sector. Business was conducted in collaboration with SPP. From the onset, AMF Pension focused on low costs and economies of scale.


AMF Pension branches off from SPP and is established as an independent company.


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.


A pension selection process is carried out, where 927,000 people under the SAF-LO Contractual Pension plan are given the opportunity to individually choose a pension 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).


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.


AMF Pension is the second most popular company in the premium pension (PPM) selection process.

In the process of choosing a company for their occupational pension plans, municipal and county council employees choose AMF Pension more than any other company, accounting for 36 per cent of active choices.


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 Pension Company".


"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 way of switching their pension savings between traditional life and unit-linked insurance management.

Transfer rights are introduced for all private pension savings.


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.


Due to financial strains, many life companies are forced to reduce their pension benefits and rescind previously allocated dividends. Owing to strong finances and proficient asset management, AMF Pension did not have to resort to either of these measures.


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 customers a combined total of SEK 35 billion in pension dividends. 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.


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 pension 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.


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 customers. Including this AMF Pension's average dividend interest rate was 14.7 per cent last year, the highest of all occupational pension companies.


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 company 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 January 1 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.


In the autumn, private sector employees selected their pension company (SAF-LO collective agreement occupational pensions). AMF's market share was slightly more than 68 per cent, equivalent to 726,000 customers 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 PA 03).

In February, AMF implemented the first reallocation in the company's history (8 per cent). The reallocation was a consequence of 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 return in the past 15 years.


In April, a change was made in AMF's consolidation policy which implied a more direct return model based on returns instead of on dividends. With the change in the consolidation policy the surplus that was previously used to level out the performance over time was no longer needed. Consequently, this money was distributed among AMF's customers, increasing their pension assets by on average of 17 per cent.

In the spring employees in the private sector chose their pension fund (ITP). Of the 144,000 that made an active choice, 32.6 per cent chose AMF. AMF was thereby the most actively selected company at this time.

In the autumn AMF carried out Sweden's longest advertising campaign in which people were given the opportunity to send a text message to themselves or someone else which will be delivered in 20 year's time. Nearly 40,000 people sent a message into the future.

With a total return of 9.8 per cent for 2010, AMF is still on top when it comes to delivering the best pension to customers. AMF is still the life insurance company that has produced the best returns over the past 15 years.


On 1 May 2011, AMF launched a new type of traditional assurance, where the risk level of savings changes progressively. Generally, this means a higher risk level during savers' younger years and a lower risk level as they approach retirement, and that AMF makes guaranteed savings more secure the nearer the saver comes to retirement. In 2011, this product was available for the PA 03 collective pension agreement only.

In spring 2011, AMF acquired 50 per cent of property company Dombron Intressenter AB from AP4 (the Fourth Swedish National Pension Fund). Later in 2011, this company changed corporate name to Rikshem. Late in the year, central Stockholm shopping malls Fältöversten, Ringen and Västermalmsgallerian were added to the property portfolio.

The year featured turbulence on the financial markets and the Stockholm Stock Exchange fell by 17 per cent. AMF's total return was 2.4 per cent.


AMF extended its modernised traditional assurance offering to the KAP-KL collective pension agreement for local government employees, and was the second most selected provider. AMF took a decision to discontinue commissions to intermediaries in the year. AMF launched two new funds, Aktiefond Mix ('Equity Fund Mix') and Räntefond Mix ('Fixed-income Fund Mix').

The total return was 8 per cent, and AMF retained the strongest finances in the sector, even if the year was one of financial and political turmoil on the market. AMF paid SEK 14 billion to policyholders, of which SEK 8 billion was guaranteed pensions and SEK 6 billion returns above guarantee, offering clear evidence of AMF's strength in traditional assurance. Because all profits are returned to savers, SEK 519 million was returned to AMF's customers, funds from fee revenues left after all costs had been covered.


AMF was reassigned as a non-optional provider in the SAF-LO contractual pension segment until 2016. In the SAF-LO and ITP/ITPK contractual pension segments, AMF was also an optional provider for traditional assurance and unit-linked assurance again. In ITP/ITPK, AMF was the most actively chosen provider, in terms of customer numbers and premiums. Total returns were 9.3 per cent in a positive stock market. Because all profits are returned to savers, we were able to cut the charges of 1.2 million traditional assurance savers by 25 per cent. Simultaneously, we returned SEK 481 million to our customers, charge revenue remaining after our costs were covered.

We also reduced the charges on our unit-linked assurance offering by up to 33% for nearly 100,000 unit-linked assurance customers.


In 2014, AMF commenced an extensive process to merge its insurance products to make things simpler for customers, and enable further fee reductions. In the year, AMF delivered a high total return (12.7%) and a strong solvency level (204%). AMF's surplus, totalling SEK 547 m, was returned to its customers, and AMF was rated 4.4 out of 5.0 in its customer satisfaction survey. 2014 was also the first year that AMF presented its sustainability work in its Annual Report in accordance with GRI G4 guidelines. AMF also signed the UN Global Compact, and decided to migrate all its foreign equity portfolio to a sustainability index.