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. The company headquarters are located in Stockholm. 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 ...

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 ( sv, Kooperativa Förbundet, "Co-operative Union") is a federation of consumer co-operatives in Sweden and a retail group, with groceries as its core business. History KF was founded in 1899 by 41 local consumer co-operatives in order to ...

, 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