annual report 2005 nordea life holding finland ltd assurance contents managing director s review 2 of the board directors in year 4 premium income positive trend on investment markets investments gave steady yield 5 claims paid 6 costs well under control staffing and competence profit improved technical provisions solvency 7 risk management group structure ownership 8 outlook consolidated loss account 11 balance sheet 12 funds statement 14 15 16 notes to financial statements 17 administration 23 proposal for disposal auditors 24 25 26 28 29 30 32 33 52