Annual Report IPF 2021 - Flipbook - Side 41
INDUSTRIENS PENSIONSFORSIKRING A/S
17.
ANNUAL REPORT 2021
NOTES
Collateral and contingent liabilities
DKK mill.
18.
31.12.2021
31.12.2020
Equity investments
71,552
44,328
Investment units
99,982
88,330
Bonds
43,270
53,759
3,812
2,931
652
-
As collateral for the technical provisions, assets have been registered at a carrying amount
of:
Deposits with credit institutions
Loans
Derivative financial instruments
Related parties
Industriens Pensionsforsikring A/S is fully owned by the parent company IndustriPension Holding A/S, which also owns
Industriens Pension Service A/S. Consequently, these two companies are closely related to Industriens Pensionsforsikring
A/S. The same applies to group undertakings and associated undertakings, see notes 10 and 11, as well as the members of
the Board of Directors and the Board of Management.
Transactions with related parties are entered into and settled on market terms or on a cost-recovery basis. In 2021, the
company had the following transactions and balances with related parties:
- Supply of administrative services for the parent, IndustriPension Holding A/S, as well as to the fellow subsidiary, Industriens
Pension Service A/S, and the fully owned subsidiaries. Assets management services are also supplied to the subsidiaries. The
fees for these services are set on a cost-recovery basis.
2,886
1,625
222,154
190,973
- Loans provided (approx. EUR 73 mill.) and guarantees for equivalent lines of credit to the subsidiary IP Finans 1 ApS in
connection with financing the wind farm Butendiek Wind II. Interest and guarantee commission is fixed on market terms.
Cash and cash equivalents and bonds issued as collateral for clearing and for fair value of
derivative financial instruments
1,609
1,969
No transactions have been entered into with the company’s Board of Directors or Board of Management in addition to the
salaries and other remuneration described in note 6.
Cash and cash equivalents and bonds received as collateral for fair value of derivative
financial instruments
2,851
1,807
Pledges to invest in property, infrastructure and unlisted equity investments etc. incl.
warranties for pledges in associated undertakings.
27,629
23,220
Total registered assets
The company has joint VAT (moms) registration with a number of group companies. The joint registration entails joint and
several liability for VAT and payroll tax.
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