Type Mutual Area served Norway Founded 1949 | Industry Financial services Headquarters Oslo, Norway Number of employees 550 (2007) | |
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Key people Sverre Thornes (CEO)
Arne Øren (chair) Revenue NOK 43,581 million (2006) Operating income CEO Sverre Thornes (3 Jan 2008–) Subsidiaries KLP Eiendom, Kommunalbanken Profiles | ||
Kommunal Landspensjonskasse Gjensidig Forsikringsselskap or KLP is a mutual insurance company responsible for the management of municipal and county pensions and insurance issues. The company has total assets of NOK 280 billion, with 337 municipal and county authorities, 31 health trusts and 2,300 public sector companies as clients. The company is based in Oslo.
The treasury was created in 1949 to manage the pensions of the municipal employees in Norway. Until 1974 the portfolio was managed by Norsk Kollektiv Pensjonskasse, when KLP received its own licence. State employees are insured through the Norwegian Public Service Pension Fund. A major subsidiary of KLP is KLP Eiendom that manages a large portfolio of real estate throughout the country and in Denmark. KLP also owns 20% of Kommunalbanken that grants loans to municipalities and counties.