# OP-Pohjola Non-Life Insurance

OP-Pohjola Non-Life Insurance is an Insurance based in Helsinki, Finland.

## Overview

- **Organization type:** Insurance
- **Headquarters:** Helsinki, Finland
- **Region:** Europe
- **Address:** Gebhardinaukio 1, 00510 Helsinki, Finland
- **Assets under management:** Undisclosed
- **Website:** op.fi

## Regulatory record

- **Reports private funds:** No

## About

OP-Pohjola Non-Life Insurance is a Helsinki-based insurance company. It manages approximately $5.1 billion in assets across 41 funds, primarily focused on Europe.

## Sectors

- Real Estate
- Infrastructure
- Hedge Funds
- Private Credit

## People

- Timo Ritakallio — President and Group CEO, OP Financial Group
- Olli Lehtilä — Executive Vice President, Insurance Customers

## Questions

### Who runs investment decisions at OP-Pohjola Non-Life Insurance?

The investment function reports through OP Financial Group's consolidated asset management structure. Timo Ritakallio serves as President and Group CEO, while Olli Lehtilä leads the insurance-customers division that generates the reserve base. Day-to-day portfolio management for general-account assets is handled by OP Asset Management, the group's wholly owned manager.

### How is OP-Pohjola Non-Life Insurance related to OP Financial Group?

OP-Pohjola Non-Life Insurance is a wholly owned subsidiary of OP Financial Group, Finland's largest financial cooperative. The group is owned by roughly 2 million customer-members through a network of regional cooperative banks. Policyholders are effectively owners, which shapes the investment mandate toward capital preservation and steady nominal returns.

### Does OP-Pohjola Non-Life Insurance invest directly in real estate?

Yes. The firm holds direct Finnish commercial property including OP Vallila — the group's Helsinki headquarters — and a hospital real estate portfolio with assets in Helsinki, Turku, Kuopio, and Oulu. It also owns forest and agricultural land, which functions as an illiquid, inflation-linked allocation within the general account.

### What investment stages or strategies does OP-Pohjola Non-Life Insurance target?

The insurer does not participate in venture capital or early-stage equity. It operates a liability-driven general account focused on investment-grade fixed income, direct Finnish real estate, infrastructure-linked property, and return-seeking allocations through hedge funds, private credit, and public equities managed by OP Asset Management.

### Where does the underlying capital come from?

The capital backing the investment portfolio derives from technical reserves set aside for domestic non-life insurance policies — property, casualty, accident, and liability lines written almost exclusively in Finland. There is no external LP capital; the insurer is a captive allocator within a cooperative group.

## Related profiles

- [OP Life Insurance](https://altss.com/profile/op-life-insurance)
- [OPEIU Locals #30 & #537](https://altss.com/profile/opeiu-locals-30-537)

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Last updated: 2026-06-03T20:00:00.000Z

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