Folksam is one of the largest insurance companies in Sweden. The company headquarters are located in Stockholm. Folksam consists of the two mutual insurance companies Folksam sak and Folksam liv. Folksam is today a Swedish insurance company only, after the sale in 2001 of the English subsidiary Folksam International.
Folksam is closely connected to the cooperative and trade union organizations in Sweden and it was started in 1908 as an insurance branch of Kooperativa Förbundet, KF, the main cooperative retail organisation. The original company (Samarbete, Swedish for cooperation) was a mutual fire insurance company. In 1914, the second branch, a mutual life insurance company, was opened under the name of Folket (the people). The two names were used together in marketing and in 1946 they were contracted into one name: Folksam.
Sampo Group is a significant Nordic insurance group made up of the parent company Sampo plc, P&C Insurance Holding Ltd, Mandatum Holding Ltd, Danish insurer Topdanmark and British P&C insurer Hastings, all of which are its subsidiaries. The parent company in Helsinki administers the subsidiaries. Sampo Group employs over 13,200 employees. Torbjörn Magnusson is the Group CEO and President of Sampo Group.
A mutual organization, or mutual society is an organization based on the principle of mutuality and governed by private law. Unlike a true cooperative, members usually do not contribute to the capital of the company by direct investment, but derive their right to profits and votes through their customer relationship. A mutual organization or society is often simply referred to as a mutual.
Demutualization is the process by which a customer-owned mutual organization (mutual) or co-operative changes legal form to a joint stock company. It is sometimes called stocking or privatization. As part of the demutualization process, members of a mutual usually receive a "windfall" payout, in the form of shares in the successor company, a cash payment, or a mixture of both. Mutualization or mutualisation is the opposite process, wherein a shareholder-owned company is converted into a mutual organization, typically through takeover by an existing mutual organization. Furthermore, re-mutualization depicts the process of aligning or refreshing the interest and objectives of the members of the mutual society.
Sun Life Financial Inc. is a Canadian financial services company. It is primarily known as a life insurance company.
Takaful is a co-operative system of reimbursement or repayment in case of loss, organized as an Islamic or sharia compliant alternative to conventional insurance, which contains riba (usury) and gharar.
A mutual insurance company is an insurance company owned entirely by its policyholders. Any profits earned by a mutual insurance company are either retained within the company or rebated to policyholders in the form of dividend distributions or reduced future premiums. In contrast, a stock insurance company is owned by investors who have purchased company stock; any profits generated by a stock insurance company are distributed to the investors without necessarily benefiting the policyholders.
FM Global is an American mutual insurance company based in Johnston, Rhode Island, United States, with offices worldwide, that specializes in loss prevention services primarily to large corporations throughout the world in the Highly Protected Risk (HPR) property insurance market sector. "FM Global" is the communicative name of the company, whereas the legal name is "Factory Mutual Insurance Company". FM Global has been named the "Best Property Insurer in the World” by Euromoney Magazine.
Cooperative banking is retail and commercial banking organized on a cooperative basis. Cooperative banking institutions take deposits and lend money in most parts of the world.
Gjensidige Forsikring ASA is a Norwegian insurance company. The company traces its roots back to 1816 when a fire mutual was founded as Land Gjensidige Brandkasse in what is today Oppland county. Gjensidige demutualised and listed on the Oslo Stock Exchange in December 2010. The firm, headquartered in Oslo, has a market share of some 26% (2021) in the Norwegian insurance market. The company has 36 branch offices in Norway, not including affiliated fire mutuals, and 1 million customers. Gjensidige has subsidiaries in Denmark, Sweden and The Baltics.
Folksamhuset is a high-rise office building at Skanstull on Södermalm, Stockholm and was erected in 1959 as the head office for the insurance company Folksam. Designed by Nils Einar Eriksson, Folksamhuset is 79 metres (259 ft) and 23 stories tall, making it the ninth-tallest building in Sweden.
FIH Erhvervsbank A/S is the sixth-largest bank in Denmark in terms of total assets. FIH is an integrated corporate and investment bank, offering selected services within capital and advisory services to Danish corporates and operates internationally under the name “Finance for Danish Industry”. FIH is headquartered in Copenhagen and operates from four local offices in Jutland. Year-end 2010, FIH had a total lending of approximately DKK [60] billion spread on roughly 4.000 corporate clients.
The Moshavim Movement is one of the main settlement movements in Israel, whose members are cooperative villages organized as moshavim and moshavim shitufiim.
The history of cooperatives in the United States extends to pre-independence times. With the exception of credit unions and mutual banking institutions, most cooperatives have held a comparatively light footprint on the economic history of the United States in comparison to the economies of Europe.
Obesity in Sweden has been increasingly cited as a major health issue in recent years. Sweden is the 90th fattest country in the world. In 2009, the number of people who are considered overweight or obese had not increased for the first time in 70 years. Claude Marcus, a leading Swedish nutrition expert from the Karolinska Institutet, stated that one solution is to introduce a fat tax. Folksam refused to insure a 5-year-old girl from Orust. The insurance company refused her insurance based on "serious overweight/obesity". A report showed that children whose parents were better educated had a lower chance of becoming overweight.
Hamburger Feuerkasse is the first officially established fire insurance company in the world, and the oldest existing insurance enterprise available to the public, having started in 1676.
Univé is a cooperative insurance company in the Netherlands. Univé presents itself as a nonprofit insurer, to express that making profit is not important and therefore has cheaper products.
The Tamil Nadu State Apex Co-operative Bank or TNSC Bank is an Indian cooperative banking company headquartered in Chennai. It was incorporated in 1905 as an urban cooperative bank. As of 2015, TNSC Bank had 46 branches in Chennai. TNSC Bank coordinates India's entire short-term cooperative credit structure.
The Nordic Medical Prize is a Swedish prize in medicine awarded by the SalusAnsvar/Ulf Nilsonnes Foundation for Medical Research in cooperation with the insurance company Folksam. It is the second largest medical award in the Nordic countries, after the Nobel Prize in Medicine, and includes a monetary prize of one million Swedish kronor. The prize has been awarded since 1998.
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