PRI Pensionsgaranti (Mutual) is a provider of credit insurance and administrative services for occupational pension provisions. We provide companies with all services needed for retaining pension capital in the business without jeopardizing employee pensions in an easy administered solution.
What makes us different?
PRI Pensionsgaranti has contributed to the growth and the competitiveness of companies for almost fifty years.
Our strength comes from the quality of our clients. We take on risk in a disciplined and consistent way and are committed to safeguard employee pensions.
A strong balance sheet provides an unquestioned ability to pay claims. An experienced and well proven organisation contributes to keeping costs low for clients.
Our services include:
- Credit insurance on pension liabilities
- Economic reporting services and valuations
- Pension administration
- Information services
You are welcome to visit our website where you can find more information about our services and in what way we are able to assist.
PRI Pensionsgaranti recieved their first rating from Standard & Poor´s on December 8th 2010. You can read the report here.
Read more here »
Book reserve method
Instead of paying premiums to a life insurance company, your company can enter the benefit obligation as a liability. The pension is paid as soon as an employee retires. PRI Pensionsgaranti registers the pledges, estimates the liability and ensures that pension is paid. With credit insurance, the employees are guaranteed their pensions, even if the company goes bankrupt.
Both Pensionsgaranti and PRI were founded in 1961 as the ITP plan was formed. The majority of Sweden’s largest companies are policy-holders and clients of PRI Pensionsgaranti. The insured pension liability amounts to around 155 billion SEK (2010), and more than 80% if this amount relates to the ITP plan. The remaining part consists of individual pension commitments and other agreements. PRI Pensionsgaranti also offers management of other types of pension plans than ITP, and estimates liabilities according to IAS 19.
Excess profit returns to shareholders
PRI Pensionsgaranti’s net assets amount to more than 19 billion SEK. Excess profit that is not needed in the business goes back to the shareholders as a bonus. Over the past 5 years, the bonuses have amounted to over 2 billion SEK. The bonuses are based on the premiums paid during the last 10 years. During the same period, the shareholders have paid premiums amounting to 1.3 billion SEK. The high bonuses have been possible as the return of the capital has been good and credit losses have been low.
PRI Pensionsgaranti makes a credit assessment of each company and in some cases requests security for the credit insurance. The premium for 2011 is 0.3% of the pension liability. The premium of the liability secured by a pension foundation is 0.1%.
Our 20 largest shareholders (in alphabetical order)
ABB
AstraZeneca
Bonnier
Electrolux
Ericsson
NCC
Pfizer
Posten
SAAB
SAAB Automobile
Sandvik
SCA
Scania
Skanska
Stora Enso
Svenska Lantmännen
TeliaSonera
Vattenfall
Volvo
Volvo Personvagnar