ICMIF member Folksam (Sweden) is a customer-owned insurance company which shares its surplus with customers in the form of a refund and has recently announced an impressive refund of SEK 433 million to over 2.6 million of its customers.

The refund is based on the premium paid in the previous year and the size of the refund depends on Folksam’s surplus, among other things.

“As a customer-owned company, it is a matter of course that it will benefit our customers when things are going well for us. The fact that we can now give more than 2.6 million customers a refund of over SEK 433 million to share feels very good and is proof of Folksam’s strong financial position,” says Jens Wikström, Head of Business Area Sak at Folksam.

Customers who receive the bonus are Folksam’s non-life insurance customers, ie those with vehicle, housing, child, pregnancy, accident, pet and additional insurance coverage.

In April 2024, Folksam began sending out refund notices to customers who have earned bonuses of SEK 100 or more. For customers with lower amounts, the refund is saved for the following year. The refund will be paid during the month of May to customers who have direct debit, and other customers will receive their refund starting in June.