Financial Supervisory Authority Approved Merger of Pension Fennia and LocalTapiola Pension

The Financial Supervisory Authority has on 27 June 2013 approved the application on a merger between Pension Fennia and LocalTapiola Pension. The General Meetings of the companies approved the merger the week before. As a result of the merger, the new Elo Mutual Pension Insurance Company will start operations on 1 January 2014.

Having 490,000 insured customers and a premium income of approximately €3 billion, Elo will start its operations with a market share of about 24%. The investment assets amount to approximately €17.5 billion.

Additional information:
Pension Fennia, Director Mika Ahonen, tel. +358 40 726 7281
LocalTapiola Pension, Deputy Managing Director Keijo Kouvonen, tel. +358 40 583 7923