About Sampension Livsforsikring

Paragraph (1)

The Company is bound by the joint signatures of:

1. all members of the Board of Directors; or
2. the Chairman of the Board of Directors and another member of the Board of Directors or a member of the Executive Board; or
3. the Deputy Chairman of the Board of Directors and another member of the Board of Directors or a member of the Executive Board; or
4. two members of the Executive Board.

  
Paragraph (2)

The entire Board of Directors may grant powers of procuration to other persons to bind the Company either jointly with a member of the Executive Board or jointly with another so empowered person, including for the sale and mortgaging of real property.

See also Annual reports

(Annual report)

Sampension Livsforsikring A/S is a customer-owned company. One half of the share capital is owned by Local Government Denmark (Kommunernes Landsforening), a number of municipalities and regional councils.

The other half is owned by the employee organisations the Union of Commercial and Clerical Employees in Denmark (HK Danmark), the Organisations of Public Employees (OAO), the Danish Metalworkers’ Union, the Danish Dental Association, Danish Musicians' Union, and Danish Music Teachers Association. To ensure that any profit we make will always be used for the benefit of our customers, dividends are subject to the company reporting a profit from operations and limited to a symbolic amount of up to DKK 40,000 per year.

Sampension writes pension plans in the public and private labour markets. Sampension specialises in writing collective pension schemes that form part of collective agreements. In addition, we offer pension schemes to employees of private as well as public enterprises.

Through reinsurance that is recognised as indirect insurance in the financial statements, we also insure the obligations to civil servants of a large number of municipal authorities, a few regional authorities and a number of public institutions.

The market for labour market pension schemes is distributed on a number of pension companies and pension funds. In Denmark Sampension holds about a 6 % market share in terms of premium income.

Sampension’s share capital amounts to DKK 800,000 and consists of 800 shares with a nominal value of DKK 1,000 each.

According to Sampension’s Articles of Association, dividends to shareholders may amount to 5 %, but not exceeding DKK 40,000 overall.

Sampension’s Board of Directors consists of shareholder representatives, including the parties to collective agreements behind the majority of the pension schemes provided by Sampension, two board members recommended by the Board of Directors and representatives of the Group’s employees.

The board of directors are elected by the shareholders, whereas the representatives of the Group are elected by the employees of Sampension Administrationsselskab.

Sampension Livsforsikring A/S (Sampension) has an internal audit function appointed by the Board of Directors and external auditors (PricewaterhouseCoopers) appointed by the shareholders as required by law.

The internal audit function is, due to an audit plan approved by the Board of Director, o. a. responsible for an independent audit of the internal controls in Sampension. Furthermore the internal audit function cooperate with external audit to perform the audit, which lead to express an opinion of the Financial Statements of the companies in the Insurance administration partnership.

PricewaterhouseCoopers conducted their audit in accordance with International Standards on Auditing and additional requirements under Danish audit regulation.

This requires that they comply with ethical requirements and plan and perform the audit to obtain reasonable assurance whether the Consolidated Financial Statements and the Parent Company Financial Statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the Consolidated Financial Statements and the Parent Company Financial Statements. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the Consolidated Financial Statements and the Parent Company Financial Statements, whether due to fraud or error.

In making those risk assessments, the auditor considers internal control relevant to the Company’s preparation of Consolidated Financial Statements and Parent Company Financial Statements that give a true and fair view in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control.

An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by Management, as well as evaluating the overall presentation of the Consolidated Financial Statements and the Parent Company Financial Statements.

Audit & Risk Committee
The Board of Directors of Sampension Livsforsikring A/S (Sampension) has set up a separate Audit & Risk Committee pursuant to the audit legislation on public-interest entities.

The Audit & Risk Committee consists of the following board members:

• Torben Nielsen (Chairman of the Audit & Risk Committee)
• Jørn Pedersen (Chairman of the Board)
• Kim Simonsen (Deputy Chairman of the Board)
• Anne Mette Barfod (Member of the Board)

According to the rules on audit committees, at least one member must possess audit or accounting qualifications.

The Audit Committee & Risk has no independent decision-making powers, but is exclusively a preparatory committee charged with reviewing and monitoring certain matters. Thus, the Audit Committee assists in preparing and qualifying matters for consideration by the entire Board of Directors. However the Audit & Risk Committee is responsible of approving non-audit services.

The Audit & Risk Committee meets at least four times per year and prepares an annual plan for the committee, which is submitted to the Board of Directors for approval. According to Danish law, the Audit & Risk Committee is responsible for monitoring and assessing whether Sampension's financial reporting, internal control systems, risk management and statutory audit are planned appropriately as well as assessing the auditors' independence and issuing recommendations on the appointment or re-appointment of auditors. Furthermore the Audit & Risk Committee are to view the ORSA-reporting, the risk profile, capital plans prior to the Board of Directors approval as well as reviewing and assessing Sampension's operational risk reporting.

The Audit & Risk Committee reports regularly to the Board of Directors, ensuring that the Board receives adequate information about matters to be considered by the Board. 

1. Background

The policy applies to Sampension Livsforsikring A/S, The Architects’ Pension Fund, The Pension Fund for Agricultural Academics and Veterinary Surgeons and ISP Pension, which are the four financial enterprises of the joint management company. Sampension Administrationsselskab A/S manages the companies’ overall activities relating to pension and insurance administration as well as investment management.

2. Responsible pension schemes

Social responsibility
In addition to safeguarding its pension customers/members financially, the company – being a part of the Danish labour market pension system – contributes to the sustainable development of the Danish economy and to maintaining a healthy balance between public sector benefits and labour market benefits. Labour market pensions, which constitute a significant pillar of the Danish model, have contributed to the steady development of a secure and responsible labour market since the 1980s.

The company is responsible for managing its pension schemes in a way that serves the best interests of its customers/members. The company fulfils that responsibility by staying focused on what is important, i.e. growing the value of pension schemes through:

• low expenses
• high returns
• a flexible pension product
• personalised customer service
• comprehensive advisory tools.

These factors are also key to meeting the company’s corporate social responsibility.

The company conducts its policy on corporate social responsibility as business-driven CSR and seeks to honour its social responsibility through actions taken in the company’s business areas. The fundamental objective of the company is to provide attractive pension schemes to its customers/members, which is reflected by the fact that profit is allocated to customers’/members’ pension savings.

In addition to the core business of providing attractive pension schemes, the policy also focuses on the investment area and on responsible investments, which are an integral part of the company’s investment process. For a thorough review of objectives and initiatives regarding the company’s general governance, investments and operations, see the responsible investment policy and guidelines (at the company’s website) and the statutory report on corporate social responsibility.

Investment policy
The background to implementing a responsible investment policy is the company’s desire to act in a way which customers, members and the society at large regard as responsible. The policy thus also contributes to reducing the company’s reputational risk.

The company’s investment policy is based on, among other things, the assumption that companies acting responsibly on both social and environmental parameters can mitigate their business risk without compromising on profitability. Accordingly, focus is on active ownership and exclusion. The ongoing screening of all listed companies in the equity portfolio is conducted by two independent screening companies.

The company’s Board of Directors is responsible for defining specific guidelines for responsible investments in its investment guidelines. The company’s responsible investment guidelines applicable from time to time are defined in the investment guidelines of the Board of Directors.

3. Reporting

The company’s corporate social responsibility efforts are followed up on through regular reporting available on the company’s website, in the annual report, including an overview of ESG ratios, and in the statutory report on corporate social responsibility. Moreover, a logbook has been set up on the website so that customers, members and society can always keep track of the company’s ESG decisions and efforts.

4. Policy updates

The policy must be updated at all times to reflect any legislative changes or other matters necessitating an update.

At least once a year, the Board of Directors oversees that the policy is updated and appropriate.

5. Commencement

The policy commences upon the Board of Directors’ approval of the policy and replaces the Board of Directors’ “Policy on Corporate Social Responsibility – CSR” adopted by Sampension Livsforsikring A/S on 9 December 2020, by The Architects’ Pension Fund and The Pension Fund for Agricultural Academics and Veterinary Surgeons on 14 December 2020 and by ISP Pension on 1 December 2020.

In addition to the parent company, Sampension Group comprises a number of subsidiaries which primarily operate the Group’s investment activities.

The investment subsidiaries are:

Kapitalforeningen Sampension Invest

Sampension Forestry K/S

Sampension Private Equity K/S

SP HoldCo af 13.12.2018 AB

Sampension Structured Credit K/S

Sampension American Timber I, L.P.

Siskiyou Timberlands, LLC

EIP IV Danske Holding

Sampension Global Real Estate K/S

Komplementarselskabet Alternative Investments ApS

Komplementarselskabet EJI DK ApS

Sampension KP International A/S

Sampension KP Danmark A/S

Click to see the group structure of Sampension’s investment subsidiaries

If you have any questions regarding settlement instructions please contact backoffice@sampension.dk. 

Kapitalforeningen Sampension Invest 

Certain parts of Sampension’s investments in listed equities and bonds are managed externally by Sampension Invest. Sampension Invest is a capital association and subject to the AIFM Directive. Sampension Invest and its underlying funds form part of the overall investment universe managed by Sampension Livsforsikring A/S.

CVR 20407131

Powers to bind the company

The fund is bound by:

1. the joint signatures of two members of the Board of Directors, or by
2. the joint signatures of one member of the Board of Directors and a member of the Executive Board of the association's asset manager.

Sampension Forestry K/S

Sampension Forestry K/S is a limited partnership. The objective of the limited partnership is to invest in forestry funds and companies whose purpose is to conduct forestry operations. The limited partnership may invest liquid funds, hold shares or extend loans to companies conducting forestry operations. The limited partnership is under the management of Komplementarselskabet Alternative Investments ApS. Sampension Forestry K/S has outsourced its operations to Sampension Administrationsselskab A/S.

CVR 29805865

Powers to bind the Limited Partnership

The Limited Partnership is bound by the signature of the general partner (Komplementarselskabet Alternative Investments ApS)

Sampension Private Equity K/S

Sampension Private Equity K/S is a limited partnership. The main objective of the limited partnership is to invest in private equity funds and unlisted companies. The limited partnership may invest in securities, liquid funds and derivative financial instruments. The limited partnership is under the management of Komplementarselskabet Alternative Investments ApS. Sampension Private Equity K/S has outsourced its operations to Sampension Administrationsselskab A/S.

CVR 34087709

Powers to bind the Limited Partnership

The Limited Partnership is bound by the signature of the general partner (Komplementarselskabet Alternative Investments ApS).

SP HoldCo af 13.12.2018 AB

The object of the company is to own and manage real and movable property, assets and conduct operations compatible herewith.

Corporate registration number 559172-2193  (Sweden)

Powers to bind the company

The Company is bound by:

1. the joint signatures of two members of the Board of Directors, or by
2. the joint signatures of one member of the Board of Directors and the Chair of the Board of Directors.

Sampension Structured Credit K/S

Sampension Structured Credit K/S is a limited partnership. The objective of the limited partnership is to carry on investment business by investing in liquid funds, securities and derivative financial instruments. The limited partnership is under the management of Komplementarselskabet Alternative Investments ApS. Sampension Structured Credit K/S has outsourced its operations to Sampension Administrationsselskab A/S.

CVR 34087717

Powers to bind the Limited Partnership

The Limited Partnership is bound by the signature of the general partner (Komplementarselskabet Alternative Investments ApS).

Sampension American Timber I

Sampension American Timberland I, L.P. (Partnership) is a limited partnership formed on February 15, 2019, under the laws of the State of Delaware. Chinook GP, LLC, a Washington limited liability company (General Partner), is the general partner of the Partnership. The Partnership is organized primarily for the object and purpose of acquiring and managing quality timberland in the Pacific Northwest of the United States.

Siskiyou Timberlands, LLC

Siskiyou Timberlands, LLC is a limited liability company. The company is a subsidiary of Sampension American Timberland I, L.P. and is organized for the object and purpose of acquiring and managing quality timberland in the Pacific Northwest of the United States.

EIP IV Danske Holding

The company is a holding structure for the pension funds investment in EIP IV LP, which is a US investment fund investing and establishing mitigation banks, which subsequently sell green credits as a solution to regulatory compliance for businesses who need to offset—or mitigate for—unavoidable, permitted impacts to wetlands, streams and habitat areas. Mitigation banks help necessary development proceed by providing verified and cost-effective offsets in a science-based, responsible manner. EIP’s mitigation banks are ecologically significant areas that have been acquired, restored to health, and permanently protected. 

Sampension Global Real Estate K/S

Sampension Global Real Estate K/S is a limited partnership. The objective of the limited partnership is to invest in property funds and companies whose objective is to own and operate real property. The limited partnership is under the management of Komplementarselskabet Alternative Investments ApS. Sampension Global Real Estate K/S has outsourced its operations to Sampension Administrationsselskab A/S.

CVR 29805873

Powers to bind the Limited Partnership

The Limited Partnership is bound by the signature of the general partner (Komplementarselskabet Alternative Investments ApS).

Komplementarselskabet Alternative Investments ApS

The company's objective is to manage and act as general partner of the following companies; Sampension Global Real Estate K/S, Sampension Forestry K/S, Sampension Private Equity K/S and Sampension Structured Credit K/S. Management of the company has been outsourced to Sampension Administrationsselskab A/S.

CVR 29805830

Powers to bind the company

The Company is bound by:

1. the joint signatures of the Chairman and another member of the Board of Directors, or of
2. the Chairman and the Executive Board member.

Komplementarselskabet EJI DK ApS

Sampension Global Real Estate K/S is a limited partnership. The objective of the limited partnership is to invest in property funds and companies whose objective is to own and operate real property. The limited partnership is under the management of Komplementarselskabet Alternative Investments ApS. Sampension Global Real Estate K/S has outsourced its operations to Sampension Administrationsselskab A/S.

CVR 29805873

Powers to bind the Limited Partnership

The Limited Partnership is bound by the signature of the general partner (Komplementarselskabet Alternative Investments ApS).

Sampension KP International A/S

The company's objective is to acquire through direct or indirect investment and operate real property and any activities related thereto outside Denmark. Sampension KP International A/S has outsourced its operations to Sampension Administrationsselskab A/S.

CVR 19696898

Powers to bind the company

The Company is bound by:

1. the joint signatures of the chairman of the Board of Directors and another member of the Board of Directors; or
2. the joint signatures of a member of the Executive Board and a member of the Board of Directors; or
3. the joint signatures of two members of the Executive Board.

Sampension KP Danmark A/S

The company's objective is to acquire through direct investment and operate real property and any activities related thereto in Denmark. Sampension KP Danmark A/S has outsourced its operations to Sampension Administrationsselskab A/S.

CVR 10633605

Powers to bind the company

The company is bound by:

1. the joint signatures of the chairman and a member of the Board of Directors; or by
2. the joint signatures of a member of the Executive Board and a member of the Board of Directors; or by
3. the joint signatures of two members of the Executive Board.