Managing Director’s Review
Overall, 2017 was a good year for Fennia Mutual Insurance Company. Fennia is doing well, returns on investment grew and solvency is strong.
For business insurance, 2017 was a turning point. We focused on the development of services and proactive safety work in collaboration with our corporate customers. The number of claims declined, and the positive situation could also be taken into account in insurance pricing. In statutory accident insurance in particular, this development was also reflected in a lower premium income.
We also renewed the Fennia Group’s structures and organisation last year. The key goal of our renewal was to increase the competitiveness of the Fennia Group.
This Annual and Sustainability Report for 2017 is our first report that more extensively discusses aspects of corporate social responsibility considered essential by our stakeholders.
We carried out a survey on stakeholders’ expectations regarding corporate social responsibility, asking which aspects of the Fennia Group’s responsibility they considered essential and what we should focus on in our business operations.
The respondents considered financial responsibility and solvency, responsible investments and preventing the shadow economy to be the most essential aspects. Transparent and ethical operations were of course considered to provide a basis for trust in the corporate social responsibility of all business operations.
Fennia has always been a company for entrepreneurs. The respondents to the survey also felt strongly that affecting entrepreneurs’ safety and well-being and understanding entrepreneurship, and thus promoting the operating conditions for our customers, were aspects of corporate social responsibility that are very specific to Fennia in particular.
Following the start of the new strategy period at the beginning of the year, the vision of the Fennia Group is to offer the best customer experience. We want customers to have such a positive experience of our customer service that they have a reason to remain and wish to recommend it to others. This is why success in meeting with clients is what matters most to us.
A warm thank you to our customers, employees and partners for their excellent co-operation. We are here for you – for entrepreneurship and life.