Finanssektorens Pensionskasse (FSP) 3 CONTENTS Page GENERAL INFORMATION 5-YEAR REVIEW 5-YEAR REVIEW, CONTINUED HIGHLIGHTS IN 200
Finanssektorens Pensionskasse (FSP) 4 CONTENTS Page RISK MANAGEMENT AND COMPLIANCE Risk profile Insurance risks Favourable risk
Finanssektorens Pensionskasse (FSP) 5 GENERAL INFORMATION Name Finanssektorens Pensionskasse (FSP) Amaliegade 27 DK-1256 Copenha
Finanssektorens Pensionskasse (FSP) 6 5-YEAR REVIEW Unless stated otherwise, the following key figures are identical for the Gro
Finanssektorens Pensionskasse (FSP) 7 5-YEAR REVIEW, CONTINUED Sickness and accident insurance activities 2007 Accounting figure
Finanssektorens Pensionskasse (FSP) 8 HIGHLIGHTS IN 2007 • Reasonable results in a difficult market in 2007 • Top-line growth an
Finanssektorens Pensionskasse (FSP) 9 The new corporate customers chose FSP Pension because of its high level of service, the fr
Finanssektorens Pensionskasse (FSP) 10 FSP Pension leading on deposit interest rate In 2007 FSP Pension once again achieved its
Finanssektorens Pensionskasse (FSP) 11 FSP’s customers are very satisfied In autumn 2007, FSP conducted a survey of approx. 4,00
Finanssektorens Pensionskasse (FSP) 12 FSP has also decided to scrap the annual fee of DKK 180 for using WebLink, and costs are
Finanssektorens Pensionskasse (FSP) 13 At the same time, all the administrative tasks in FSP Invest F.M.B.A. and most of the fun
Finanssektorens Pensionskasse (FSP) 14 In 2006, the Danish Insurance Association trade organisation launched a total of 18 initi
Finanssektorens Pensionskasse (FSP) 15 Basic Capital of DKK 3.3 billion and overall balance sheet of DKK 23.1 billion A capital
Finanssektorens Pensionskasse (FSP) 16 FSP'S MANAGEMENT AND EMPLOYEES The Supervisory Board and the Executive Management FSP's S
Finanssektorens Pensionskasse (FSP) 17 FSP lives up to good corporate governance In 2007 the Supervisory Board did further work
Finanssektorens Pensionskasse (FSP) 18 On 1 July 2007, Karin Elbæk Nielsen, 39, joined FSP as Appointed Actuary and successor to
Finanssektorens Pensionskasse (FSP) 19 Focusing on a good working environment FSP's goal is to maintain a good working environme
Finanssektorens Pensionskasse (FSP) 20 CUSTOMER SERVICE Top-line growth and many new customers The increased efforts in recent y
Finanssektorens Pensionskasse (FSP) 21 Satisfied customers at FSP FSP Pension's aim is to be a good advisor and collaboration pa
Finanssektorens Pensionskasse (FSP) 22 Fast processing times In 2007, FSP Pension once again maintained its fast processing time
Finanssektorens Pensionskasse (FSP) 23 FSP homes with preferential rights for customers The website also contains information ab
Finanssektorens Pensionskasse (FSP) 24 Greater dialogue with companies and trade union representatives In 2007 FSP's Customer Se
Finanssektorens Pensionskasse (FSP) 25 THE ACTUARIAL DEPARTMENT FSP BonusKapital makes the customers direct owners of FSP’s equi
Finanssektorens Pensionskasse (FSP) 26 At the same time, the introduction of FSP BonusKapital represents a step away from the gu
Finanssektorens Pensionskasse (FSP) 27 Payment for guarantees Since 2005, FSP customers who have a pension scheme with guarantee
Finanssektorens Pensionskasse (FSP) 28 The Supervisory Board finally sets both the guarantee payment and the annual deposit inte
Finanssektorens Pensionskasse (FSP) 29 INVESTMENTS Reasonable return on investment in a turbulent 2007 After almost five years o
Finanssektorens Pensionskasse (FSP) 30 FSP’s diversification of risk across a wide range of assets is illustrated by the followi
Finanssektorens Pensionskasse (FSP) 31 FSP WebLink leading on returns Within FSP WebLink, customers achieved a respectable retur
Finanssektorens Pensionskasse (FSP) 32 Returns on WebLink funds in 2007 Type of asset Equities, sector-based Fund BankInvest Bio
Finanssektorens Pensionskasse (FSP) 33 Commercial collaboration with FSP’s member companies As part of its commercial collaborat
Finanssektorens Pensionskasse (FSP) 34 Publishing shares of ownership In accordance with Section 98 of the abovementioned execut
Finanssektorens Pensionskasse (FSP) 35 RISK MANAGEMENT AND COMPLIANCE Risk profile The Danish Financial Supervisory Authority, i
Finanssektorens Pensionskasse (FSP) 36 Favourable risk process for those in active employment Financial sector employees represe
Finanssektorens Pensionskasse (FSP) 37 In addition, FSP obtained rulings in three other appeals cases that were brought in 2006,
Finanssektorens Pensionskasse (FSP) 38 The Danish Financial Supervisory Authority's risk scenarios As part of the risk managemen
Finanssektorens Pensionskasse (FSP) 39 FSP has credit risks (loss on contracting parties) on bonds other than government and mor
Finanssektorens Pensionskasse (FSP) 40 company's risks and also to measure the financial effect this has on the company's solven
Finanssektorens Pensionskasse (FSP) 41 FINANCIAL STATEMENTS Presentation of accounts in 2007 In 2007 FSP is presenting consolida
Finanssektorens Pensionskasse (FSP) 42 Income and expenditure The total net contribution by members was DKK 579 million, represe
Finanssektorens Pensionskasse (FSP) 43 With reference to the Danish Financial Supervisory Authority's rules (the Executive Order
Finanssektorens Pensionskasse (FSP) 44 Profit creation DKK millions Return on investment, net Base rate Interest bonus Interest
Finanssektorens Pensionskasse (FSP) 45 Result from reinsurance The result from reinsurance is DKK 10.6 million compared with DKK
Finanssektorens Pensionskasse (FSP) 46 SIGNATURES OF THE EXECUTIVE MANAGEMENT AND THE SUPERVISORY BOARD The Supervisory Board an
Finanssektorens Pensionskasse (FSP) 47 Auditors selected by the Annual General Meeting. THE INDEPENDENT AUDITOR'S REPORT To the
Finanssektorens Pensionskasse (FSP) 48 Opinion In our opinion, the annual report gives a true and fair view of the Group’s and t
Finanssektorens Pensionskasse (FSP) 49 ACCOUNTING POLICIES General information FSP set up a group structure in 2007, meaning it
Finanssektorens Pensionskasse (FSP) 50 Danish capital investments. Private equity are measured at their current value using acce
Finanssektorens Pensionskasse (FSP) 51 Outstanding claims provisions comprise benefits due from insurance events that have occur
Finanssektorens Pensionskasse (FSP) 52 BALANCE SHEET Assets Group 2007 2006 DKK DKK millions millions Tangible assets Operating
Finanssektorens Pensionskasse (FSP) 53 BALANCE SHEET Liabilities Group 2007 2006 DKK DKK millions millions Owners' equity Revalu
Finanssektorens Pensionskasse (FSP) 54 INCOME STATEMENT Group 2007 2006 DKK DKK millions millions Parent company 2007 2006 DKK D
Finanssektorens Pensionskasse (FSP) 55 STATEMENT OF CHANGES IN OWNERS’ EQUITY Group 2007 2006 DKK DKK millions millions Changes
Finanssektorens Pensionskasse (FSP) 56 NOTES Group 2007 2006 DKK DKK millions millions 1. Tangible assets Operating equipment Op
Finanssektorens Pensionskasse (FSP) 57 NOTES Group 2007 2006 DKK DKK millions millions 3. Capital investments in affiliated and
Finanssektorens Pensionskasse (FSP) 58 NOTES Group 2007 2006 DKK DKK millions millions 8. Other Interest rate swaptions Financia
Finanssektorens Pensionskasse (FSP) 59 NOTES Group 2007 2006 DKK DKK millions millions 12. Pension provisions Pension provisions
Finanssektorens Pensionskasse (FSP) 60 NOTES Group 2007 2006 DKK DKK millions millions 12. Pension provisions (continued) Guaran
Finanssektorens Pensionskasse (FSP) 61 NOTES Group 2007 2006 DKK DKK millions millions 16. Member contributions Current member c
Finanssektorens Pensionskasse (FSP) 62 NOTES Group 2007 2006 DKK DKK millions millions 19. Pension return tax Pension return tax
Finanssektorens Pensionskasse (FSP) 63 NOTES Group 2007 2006 DKK DKK millions millions 21. Pension operating costs Remunerations
Finanssektorens Pensionskasse (FSP) 64 NOTES Group 2007 2006 DKK DKK millions millions 22. Technical result from sickness and ac
Finanssektorens Pensionskasse (FSP) 65 NOTES 24. Cash flow statement Paid-in members' contributions Paid reinsurance premiums Pa
Finanssektorens Pensionskasse (FSP) 66 NOTES 25. FSP's management Supervisory Board Claus E. Petersen Chairman of the Supervisor
Finanssektorens Pensionskasse (FSP) 67 NOTES 25. FSP's management, continued Ane Marie Holm Nielsen Department Manager, Spar Nor
Finanssektorens Pensionskasse (FSP) 68 NOTES 25. FSP's management, continued Executive Management Steen Jørgensen Managing Direc
Finanssektorens Pensionskasse (FSP) 69 Specification of assets and their returns at market value (DKK thousands) Market value St
Finanssektorens Pensionskasse (FSP) 70 Equities and investment certificate portfolio, shown as percentages of industries and reg
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Finanssektorens Pensionskasse (FSP) Central
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Finanssektorens Pensionskasse (FSP) 3 CONTENTS Page GENERAL INFO
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Finanssektorens Pensionskasse (FSP) 4 CONTENTS Page RISK MANAGEM
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Finanssektorens Pensionskasse (FSP) 5 GENERAL INFORMATION Name F
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Finanssektorens Pensionskasse (FSP) 6 5-YEAR REVIEW Unless state
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Finanssektorens Pensionskasse (FSP) 7 5-YEAR REVIEW, CONTINUED S
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Finanssektorens Pensionskasse (FSP) 8 HIGHLIGHTS IN 2007 • Reaso
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Finanssektorens Pensionskasse (FSP) 9 The new corporate customer
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Finanssektorens Pensionskasse (FSP) 10 FSP Pension leading on de
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Finanssektorens Pensionskasse (FSP) 11 FSP’s customers are very
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Finanssektorens Pensionskasse (FSP) 12 FSP has also decided to s
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Finanssektorens Pensionskasse (FSP) 13 At the same time, all the
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Finanssektorens Pensionskasse (FSP) 14 In 2006, the Danish Insur
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Finanssektorens Pensionskasse (FSP) 15 Basic Capital of DKK 3.3
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Finanssektorens Pensionskasse (FSP) 16 FSP'S MANAGEMENT AND EMPL
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Finanssektorens Pensionskasse (FSP) 17 FSP lives up to good corp
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Finanssektorens Pensionskasse (FSP) 18 On 1 July 2007, Karin Elb
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Finanssektorens Pensionskasse (FSP) 19 Focusing on a good workin
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Finanssektorens Pensionskasse (FSP) 20 CUSTOMER SERVICE Top-line
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Finanssektorens Pensionskasse (FSP) 21 Satisfied customers at FS
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Finanssektorens Pensionskasse (FSP) 22 Fast processing times In
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Finanssektorens Pensionskasse (FSP) 23 FSP homes with preferenti
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Finanssektorens Pensionskasse (FSP) 24 Greater dialogue with com
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Finanssektorens Pensionskasse (FSP) 25 THE ACTUARIAL DEPARTMENT
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Finanssektorens Pensionskasse (FSP) 26 At the same time, the int
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Finanssektorens Pensionskasse (FSP) 27 Payment for guarantees Si
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Finanssektorens Pensionskasse (FSP) 28 The Supervisory Board fin
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Finanssektorens Pensionskasse (FSP) 29 INVESTMENTS Reasonable re
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Finanssektorens Pensionskasse (FSP) 30 FSP’s diversification of
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Finanssektorens Pensionskasse (FSP) 31 FSP WebLink leading on re
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Finanssektorens Pensionskasse (FSP) 32 Returns on WebLink funds
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Finanssektorens Pensionskasse (FSP) 33 Commercial collaboration
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Finanssektorens Pensionskasse (FSP) 34 Publishing shares of owne
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Finanssektorens Pensionskasse (FSP) 35 RISK MANAGEMENT AND COMPL
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Finanssektorens Pensionskasse (FSP) 36 Favourable risk process f
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Finanssektorens Pensionskasse (FSP) 37 In addition, FSP obtained
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Finanssektorens Pensionskasse (FSP) 38 The Danish Financial Supe
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Finanssektorens Pensionskasse (FSP) 39 FSP has credit risks (los
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Finanssektorens Pensionskasse (FSP) 40 company's risks and also
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Finanssektorens Pensionskasse (FSP) 41 FINANCIAL STATEMENTS Pres
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Finanssektorens Pensionskasse (FSP) 42 Income and expenditure Th
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Finanssektorens Pensionskasse (FSP) 43 With reference to the Dan
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Finanssektorens Pensionskasse (FSP) 44 Profit creation DKK milli
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Finanssektorens Pensionskasse (FSP) 45 Result from reinsurance T
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Finanssektorens Pensionskasse (FSP) 46 SIGNATURES OF THE EXECUTI
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Finanssektorens Pensionskasse (FSP) 47 Auditors selected by the
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Finanssektorens Pensionskasse (FSP) 48 Opinion In our opinion, t
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Finanssektorens Pensionskasse (FSP) 49 ACCOUNTING POLICIES Gener
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Finanssektorens Pensionskasse (FSP) 50 Danish capital investment
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Finanssektorens Pensionskasse (FSP) 51 Outstanding claims provis
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Finanssektorens Pensionskasse (FSP) 52 BALANCE SHEET Assets Grou
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Finanssektorens Pensionskasse (FSP) 53 BALANCE SHEET Liabilities
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Finanssektorens Pensionskasse (FSP) 54 INCOME STATEMENT Group 20
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Finanssektorens Pensionskasse (FSP) 55 STATEMENT OF CHANGES IN O
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Finanssektorens Pensionskasse (FSP) 56 NOTES Group 2007 2006 DKK
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Finanssektorens Pensionskasse (FSP) 57 NOTES Group 2007 2006 DKK
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Finanssektorens Pensionskasse (FSP) 58 NOTES Group 2007 2006 DKK
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Finanssektorens Pensionskasse (FSP) 59 NOTES Group 2007 2006 DKK
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Finanssektorens Pensionskasse (FSP) 60 NOTES Group 2007 2006 DKK
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Finanssektorens Pensionskasse (FSP) 61 NOTES Group 2007 2006 DKK
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Finanssektorens Pensionskasse (FSP) 62 NOTES Group 2007 2006 DKK
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Finanssektorens Pensionskasse (FSP) 63 NOTES Group 2007 2006 DKK
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Finanssektorens Pensionskasse (FSP) 64 NOTES Group 2007 2006 DKK
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Finanssektorens Pensionskasse (FSP) 65 NOTES 24. Cash flow state
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Finanssektorens Pensionskasse (FSP) 66 NOTES 25. FSP's managemen
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Finanssektorens Pensionskasse (FSP) 67 NOTES 25. FSP's managemen
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Finanssektorens Pensionskasse (FSP) 68 NOTES 25. FSP's managemen
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Finanssektorens Pensionskasse (FSP) 69 Specification of assets a
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Finanssektorens Pensionskasse (FSP) 70 Equities and investment c
FSP
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