Oslo Pensjonsforsikring is a life insurance company, wholly owned by the City of Oslo. It serves the City and various subsidiaries, among them Sporveien Oslo (the transport authority) as well as state-owned hospitals in the Oslo-region.

The main business is covering the clients’ defined benefit pension schemes. The group also sells group life insurance products and occupational injury insurance to the same client base.


The subsidiary Oslo Forsikring insures cars and buildings owned by the City. The Oslo City Hall is among the buildings insured by Oslo Forsikring: 


High solvency ratio

The aim of the group is to provide the City of Oslo with the lowest possible pension and insurance cost. The condition is that the group has sufficient equity and retained earnings to meet solvency requirements set by the Finanstilsynet, the supervisory authority. These are similar to the EU Solvency II requirements.

As of Desember 31, 2019, the group had a solvency ratio of 394 per cent while that of OPF was 400 per cent. These ratios excludes the mitigating effects of transitory rules.

The main driver of delivering lowest possible pension cost are high returns on the investment of the funds covering the pension liabilities of the clients. Low administrative costs are also important.