KLP, Norway’s largest pension company, logged a positive value-add adjusted return of 3.2 percent in the second quarter of the year.
KLP recorded an investment return of NOK 3.4 billion ($377 million) during the first half of the year, representing a value-adjusted return of –0.5 percent.
A sizable fall in values characterized the first quarter, which was partly reversed in the second quarter.
“The world’s financial markets remain challenging, but we have built up our buffer capital over several years in order to ensure we are equipped for market unrest like this,” said Sverre Thornes, CEO of KLP. “Despite low returns in the financial markets, KLP still remains very robust and well-equipped to respond to any further unrest for a long time to come without our customers needing to worry.”
This comes amid news that KLP has signed a deal with DNB Livsforsikring to sell KLP Bedriftspensjon, the company’s wholly owned subsidiary that offers defi
