Kommunal Landspensjonskasse

Kommunal Landspensjonskasse

Type	Mutual
Industry	Financial services
Founded	1949
Headquarters	Oslo, Norway
Area served	Norway
Key people	Sverre Thornes (CEO) Arne Øren (chair)
Revenue	NOK 43,581 million (2006)
Operating income	NOK 5,086 million (2006)
Net income	NOK 5,086 million (2006)
Number of employees	550 (2007)
Subsidiaries	KLP Eiendom
Website	www.klp.no

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.