Kommunal Landspensjonskasse

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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)
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.