Finnish pension insurers started the year in rare agreement. Ownership platform Holdings data show pension insurers’ net sales of €670 million in Helsinki-listed equities in the first quarter, Arvopaperi reported today.
At the center was Neste, with roughly €425 million in net sales, followed by Wärtsilä and Metso. Renewable energy giant Neste’s share price has fallen from its March high amid fluctuating energy prices due to the Iran War, yet remaining more than three times elevated in value in the past year. Even Wärtsilä, a developer of solutions in marine and energy industries, has doubled its share price.
Insurers also sold banking giant Nordea, especially early this year, after a bourse rally late last year, but some turned into buyers as valuations softened. The pattern suggests disciplined profit-taking after strong runs in cyclicals and energy.
Buying was more selective but still revealing. The largest increase came from Lumo Kodit, previously known as Kojamo, at €209.7 million, driven by Varma’s property transaction. Elevator maker Kone saw €60.3 million in net purchases, with telecom giant Elisa (€29.5 million) and property and casualty insurance group Sampo (€28.0 million) close behind. Mid-sized additions included sauna maker Harvia (€21.9 million) and serial acquirer Auroora (€19.9 million), reinforcing a tilt toward steady cash flow businesses.
In short, insurers are rotating out of cyclical and capital-intensive sectors such as energy, heavy industry, and parts of banking, where gains have already been realized. In their place, they are leaning toward more predictable, cash flow stable industries such as housing, services, and high-quality industrials.
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5 min read
Finnish pension insurers started the year in rare agreement. Ownership platform Holdings data show pension insurers’ net sales of €670 million in Helsinki-listed equities in the first quarter, Arvopaperi reported today.
At the center was Neste, with roughly €425 million in net sales, followed by Wärtsilä and Metso. Renewable energy giant Neste’s share price has fallen from its March high amid fluctuating energy prices due to the Iran War, yet remaining more than three times elevated in value in the past year. Even Wärtsilä, a developer of solutions in marine and energy industries, has doubled its share price.
Insurers also sold banking giant Nordea, especially early this year, after a bourse rally late last year, but some turned into buyers as valuations softened. The pattern suggests disciplined profit-taking after strong runs in cyclicals and energy.
Buying was more selective but still revealing. The largest increase came from Lumo Kodit, previously known as Kojamo, at €209.7 million, driven by Varma’s property transaction. Elevator maker Kone saw €60.3 million in net purchases, with telecom giant Elisa (€29.5 million) and property and casualty insurance group Sampo (€28.0 million) close behind. Mid-sized additions included sauna maker Harvia (€21.9 million) and serial acquirer Auroora (€19.9 million), reinforcing a tilt toward steady cash flow businesses.
In short, insurers are rotating out of cyclical and capital-intensive sectors such as energy, heavy industry, and parts of banking, where gains have already been realized. In their place, they are leaning toward more predictable, cash flow stable industries such as housing, services, and high-quality industrials.
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