Folksam is one of the largest

insurance Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to hedge ...

companies in

Sweden Sweden, formally the Kingdom of Sweden,The United Nations Group of Experts on Geographical Names states that the country's formal name is the Kingdom of SwedenUNGEGN World Geographical Names, Sweden./ref> is a Nordic countries, Nordic c ...

. The company headquarters are located in

Stockholm Stockholm () is the capital and largest city of Sweden as well as the largest urban area in Scandinavia. Approximately 980,000 people live in the municipality, with 1.6 million in the urban area, and 2.4 million in the metropo ...

. Folksam consists of the two

mutual insurance A mutual insurance company is an insurance company owned entirely by its policyholders. Any profits earned by a mutual insurance company are either retained within the company or rebated to policyholders in the form of dividend distributions or re ...

companies Folksam sak and Folksam liv. Folksam is today a Swedish insurance company only, after the sale in 2001 of the English subsidiary ''Folksam International''. Folksam is closely connected to the

cooperative A cooperative (also known as co-operative, co-op, or coop) is "an autonomous association of persons united voluntarily to meet their common economic, social and cultural needs and aspirations through a jointly owned and democratically-contro ...

and trade union organizations in Sweden and it was started in 1908 as an insurance branch of Kooperativa Förbundet, KF, the main cooperative retail organisation. The original company (Samarbete, Swedish for cooperation) was a mutual fire insurance company. In 1914, the second branch, a mutual life insurance company, was opened under the name of Folket (the people). The two names were used together in marketing and in 1946 they were contracted into one name: Folksam.

External links

Folksam
* Insurance companies of Sweden Cooperatives in Sweden Companies based in Stockholm {{sweden-company-stub