How the association came into being
Velliv Foreningen was founded on 6 August 2015 by demerger from TryghedsGruppen. The association was originally called Foreningen Norliv. The association has around 420,000 members, all of whom are customers of Velliv (formerly Nordea Liv & Pension). Upon its founding, the association Velliv Foreningen had assets of DKK 8 billion.
The aims of Velliv Foreningen
The association aims to ensure a strong democratic basis through members' engagement with and participation in the association's elections, bonuses and other member benefits. The association also works to promote good mental health in Denmark through charitable donations.
Members
Velliv Foreningen is a representative democracy in which, every four years, the association's 420,000 members based in the five Danish regions can stand for election to or vote in elections for the association's Board of Representatives. Thus, it is ultimately the members who determine the direction of the association.
Board of Representatives
The supreme authority of the association is the Board of Representatives. This consists of approx. 50 representatives elected by and from among the members. The Board of Representatives establishes the framework for the association's work, elects the Board of Directors and approves general strategies, financial statements, articles of association etc. Elections to the Board of Representatives take place every two years alternately in the regions east and west of the Great Belt.
Board of Directors
The Board of Representatives elects seven board members and two deputies from the Velliv Association. The Board of Directors manages the association and makes decisions on the associations investments.
Secretariat
The associations Secretariat serves the association policy forums, undertakes monitoring and adjustment of asset management, provides member services and other administrative service functions, and assumes responsibility for administering and preparing charitable donations for approval by the Board of Directors.
Investments
Solid returns on the associations assets are a precondition for the Velliv Association being able to create value for its members and Danes in general. It is the returns that will ensure a good cash bonus to the members and fund the associations charitable activities.
In 2017, the association acquired a 25% stake in Velliv (formerly Nordea Liv & Pension), and now the association own Velliv 100% and today Velliv is a fully customer-owned company.
Due to the acquisition of Velliv (formerly Nordea Liv & Pension), the composition of the associations investments are changing and a new investment strategy is being implemented.