Finanssektorens Pensionskasse (FSP) 3 CONTENTS Page GENERAL INFORMATION 5-YEAR REVIEW 5-YEAR REVIEW, CONTINUED HIGHLIGHTS IN 20
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 Copenh
Finanssektorens Pensionskasse (FSP) 6 5-YEAR REVIEW Unless stated otherwise, the following key figures are identical for the Gr
Finanssektorens Pensionskasse (FSP) 7 5-YEAR REVIEW, CONTINUED Sickness and accident insurance activities 2007 Accounting figur
Finanssektorens Pensionskasse (FSP) 8 HIGHLIGHTS IN 2007 • Reasonable results in a difficult market in 2007 • Top-line growth a
Finanssektorens Pensionskasse (FSP) 9 The new corporate customers chose FSP Pension because of its high level of service, the f
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. 4,0
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 fu
Finanssektorens Pensionskasse (FSP) 14 In 2006, the Danish Insurance Association trade organisation launched a total of 18 init
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
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 t
Finanssektorens Pensionskasse (FSP) 19 Focusing on a good working environment FSP's goal is to maintain a good working environm
Finanssektorens Pensionskasse (FSP) 20 CUSTOMER SERVICE Top-line growth and many new customers The increased efforts in recent
Finanssektorens Pensionskasse (FSP) 21 Satisfied customers at FSP FSP Pension's aim is to be a good advisor and collaboration p
Finanssektorens Pensionskasse (FSP) 22 Fast processing times In 2007, FSP Pension once again maintained its fast processing tim
Finanssektorens Pensionskasse (FSP) 23 FSP homes with preferential rights for customers The website also contains information a
Finanssektorens Pensionskasse (FSP) 24 Greater dialogue with companies and trade union representatives In 2007 FSP's Customer S
Finanssektorens Pensionskasse (FSP) 25 THE ACTUARIAL DEPARTMENT FSP BonusKapital makes the customers direct owners of FSP’s equ
Finanssektorens Pensionskasse (FSP) 26 At the same time, the introduction of FSP BonusKapital represents a step away from the g
Finanssektorens Pensionskasse (FSP) 27 Payment for guarantees Since 2005, FSP customers who have a pension scheme with guarante
Finanssektorens Pensionskasse (FSP) 28 The Supervisory Board finally sets both the guarantee payment and the annual deposit int
Finanssektorens Pensionskasse (FSP) 29 INVESTMENTS Reasonable return on investment in a turbulent 2007 After almost five years
Finanssektorens Pensionskasse (FSP) 30 FSP’s diversification of risk across a wide range of assets is illustrated by the follow
Finanssektorens Pensionskasse (FSP) 31 FSP WebLink leading on returns Within FSP WebLink, customers achieved a respectable retu
Finanssektorens Pensionskasse (FSP) 32 Returns on WebLink funds in 2007 Type of asset Equities, sector-based Fund BankInvest Bi
Finanssektorens Pensionskasse (FSP) 33 Commercial collaboration with FSP’s member companies As part of its commercial collabora
Finanssektorens Pensionskasse (FSP) 34 Publishing shares of ownership In accordance with Section 98 of the abovementioned execu
Finanssektorens Pensionskasse (FSP) 35 RISK MANAGEMENT AND COMPLIANCE Risk profile The Danish Financial Supervisory Authority,
Finanssektorens Pensionskasse (FSP) 36 Favourable risk process for those in active employment Financial sector employees repres
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 manageme
Finanssektorens Pensionskasse (FSP) 39 FSP has credit risks (loss on contracting parties) on bonds other than government and mo
Finanssektorens Pensionskasse (FSP) 40 company's risks and also to measure the financial effect this has on the company's solve
Finanssektorens Pensionskasse (FSP) 41 FINANCIAL STATEMENTS Presentation of accounts in 2007 In 2007 FSP is presenting consolid
Finanssektorens Pensionskasse (FSP) 42 Income and expenditure The total net contribution by members was DKK 579 million, repres
Finanssektorens Pensionskasse (FSP) 43 With reference to the Danish Financial Supervisory Authority's rules (the Executive Orde
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 DK
Finanssektorens Pensionskasse (FSP) 46 SIGNATURES OF THE EXECUTIVE MANAGEMENT AND THE SUPERVISORY BOARD The Supervisory Board a
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
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 acc
Finanssektorens Pensionskasse (FSP) 51 Outstanding claims provisions comprise benefits due from insurance events that have occu
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 Reval
Finanssektorens Pensionskasse (FSP) 54 INCOME STATEMENT Group 2007 2006 DKK DKK millions millions Parent company 2007 2006 DKK
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 O
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 Financi
Finanssektorens Pensionskasse (FSP) 59 NOTES Group 2007 2006 DKK DKK millions millions 12. Pension provisions Pension provision
Finanssektorens Pensionskasse (FSP) 60 NOTES Group 2007 2006 DKK DKK millions millions 12. Pension provisions (continued) Guara
Finanssektorens Pensionskasse (FSP) 61 NOTES Group 2007 2006 DKK DKK millions millions 16. Member contributions Current member
Finanssektorens Pensionskasse (FSP) 62 NOTES Group 2007 2006 DKK DKK millions millions 19. Pension return tax Pension return ta
Finanssektorens Pensionskasse (FSP) 63 NOTES Group 2007 2006 DKK DKK millions millions 21. Pension operating costs Remuneration
Finanssektorens Pensionskasse (FSP) 64 NOTES Group 2007 2006 DKK DKK millions millions 22. Technical result from sickness and a
Finanssektorens Pensionskasse (FSP) 65 NOTES 24. Cash flow statement Paid-in members' contributions Paid reinsurance premiums P
Finanssektorens Pensionskasse (FSP) 66 NOTES 25. FSP's management Supervisory Board Claus E. Petersen Chairman of the Superviso
Finanssektorens Pensionskasse (FSP) 67 NOTES 25. FSP's management, continued Ane Marie Holm Nielsen Department Manager, Spar No
Finanssektorens Pensionskasse (FSP) 68 NOTES 25. FSP's management, continued Executive Management Steen Jørgensen Managing Dire
Finanssektorens Pensionskasse (FSP) 69 Specification of assets and their returns at market value (DKK thousands) Market value S
Finanssektorens Pensionskasse (FSP) 70 Equities and investment certificate portfolio, shown as percentages of industries and re
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Finanssektorens Pensionskasse (FSP) Central
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Finanssektorens Pensionskasse (FSP) 3 CONTENTS Page GENERAL INF
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Finanssektorens Pensionskasse (FSP) 4 CONTENTS Page RISK MANAGE
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Finanssektorens Pensionskasse (FSP) 5 GENERAL INFORMATION Name
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Finanssektorens Pensionskasse (FSP) 6 5-YEAR REVIEW Unless stat
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Finanssektorens Pensionskasse (FSP) 7 5-YEAR REVIEW, CONTINUED
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Finanssektorens Pensionskasse (FSP) 8 HIGHLIGHTS IN 2007 • Reas
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Finanssektorens Pensionskasse (FSP) 9 The new corporate custome
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Finanssektorens Pensionskasse (FSP) 10 FSP Pension leading on d
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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
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Finanssektorens Pensionskasse (FSP) 13 At the same time, all th
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Finanssektorens Pensionskasse (FSP) 14 In 2006, the Danish Insu
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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 EMP
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Finanssektorens Pensionskasse (FSP) 17 FSP lives up to good cor
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Finanssektorens Pensionskasse (FSP) 18 On 1 July 2007, Karin El
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Finanssektorens Pensionskasse (FSP) 19 Focusing on a good worki
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Finanssektorens Pensionskasse (FSP) 20 CUSTOMER SERVICE Top-lin
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Finanssektorens Pensionskasse (FSP) 21 Satisfied customers at F
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Finanssektorens Pensionskasse (FSP) 22 Fast processing times In
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Finanssektorens Pensionskasse (FSP) 23 FSP homes with preferent
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Finanssektorens Pensionskasse (FSP) 24 Greater dialogue with co
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Finanssektorens Pensionskasse (FSP) 25 THE ACTUARIAL DEPARTMENT
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Finanssektorens Pensionskasse (FSP) 26 At the same time, the in
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Finanssektorens Pensionskasse (FSP) 27 Payment for guarantees S
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Finanssektorens Pensionskasse (FSP) 28 The Supervisory Board fi
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Finanssektorens Pensionskasse (FSP) 29 INVESTMENTS Reasonable r
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Finanssektorens Pensionskasse (FSP) 30 FSP’s diversification of
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Finanssektorens Pensionskasse (FSP) 31 FSP WebLink leading on r
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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 own
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Finanssektorens Pensionskasse (FSP) 35 RISK MANAGEMENT AND COMP
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Finanssektorens Pensionskasse (FSP) 36 Favourable risk process
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Finanssektorens Pensionskasse (FSP) 37 In addition, FSP obtaine
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Finanssektorens Pensionskasse (FSP) 38 The Danish Financial Sup
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Finanssektorens Pensionskasse (FSP) 39 FSP has credit risks (lo
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Finanssektorens Pensionskasse (FSP) 40 company's risks and also
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Finanssektorens Pensionskasse (FSP) 41 FINANCIAL STATEMENTS Pre
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Finanssektorens Pensionskasse (FSP) 42 Income and expenditure T
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Finanssektorens Pensionskasse (FSP) 43 With reference to the Da
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Finanssektorens Pensionskasse (FSP) 44 Profit creation DKK mill
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Finanssektorens Pensionskasse (FSP) 45 Result from reinsurance
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Finanssektorens Pensionskasse (FSP) 46 SIGNATURES OF THE EXECUT
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Finanssektorens Pensionskasse (FSP) 47 Auditors selected by the
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Finanssektorens Pensionskasse (FSP) 48 Opinion In our opinion,
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Finanssektorens Pensionskasse (FSP) 49 ACCOUNTING POLICIES Gene
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Finanssektorens Pensionskasse (FSP) 50 Danish capital investmen
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Finanssektorens Pensionskasse (FSP) 51 Outstanding claims provi
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Finanssektorens Pensionskasse (FSP) 52 BALANCE SHEET Assets Gro
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Finanssektorens Pensionskasse (FSP) 53 BALANCE SHEET Liabilitie
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Finanssektorens Pensionskasse (FSP) 54 INCOME STATEMENT Group 2
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Finanssektorens Pensionskasse (FSP) 55 STATEMENT OF CHANGES IN
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Finanssektorens Pensionskasse (FSP) 56 NOTES Group 2007 2006 DK
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Finanssektorens Pensionskasse (FSP) 57 NOTES Group 2007 2006 DK
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Finanssektorens Pensionskasse (FSP) 58 NOTES Group 2007 2006 DK
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Finanssektorens Pensionskasse (FSP) 59 NOTES Group 2007 2006 DK
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Finanssektorens Pensionskasse (FSP) 60 NOTES Group 2007 2006 DK
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Finanssektorens Pensionskasse (FSP) 61 NOTES Group 2007 2006 DK
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Finanssektorens Pensionskasse (FSP) 62 NOTES Group 2007 2006 DK
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Finanssektorens Pensionskasse (FSP) 63 NOTES Group 2007 2006 DK
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Finanssektorens Pensionskasse (FSP) 64 NOTES Group 2007 2006 DK
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Finanssektorens Pensionskasse (FSP) 65 NOTES 24. Cash flow stat
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Finanssektorens Pensionskasse (FSP) 66 NOTES 25. FSP's manageme
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Finanssektorens Pensionskasse (FSP) 67 NOTES 25. FSP's manageme
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Finanssektorens Pensionskasse (FSP) 68 NOTES 25. FSP's manageme
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Finanssektorens Pensionskasse (FSP) 69 Specification of assets
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Finanssektorens Pensionskasse (FSP) 70 Equities and investment
FSP
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