The story
The company was founded as a managed fund under the Norsk Kollektiv Pensjonskasse on 15 February 1949 as a result of decisions by the Union of Norwegian Cities and the Norwegian Association of Rural Municipalities with the aim of offering municipal employees occupational pensions. It then managed the customers' occupational pension agreements.
The collaboration lasted until 1974 when KLP received its own license to operate an insurance company.
For the first 40 years, KLP was a company that primarily administered collective pension schemes in the municipalities. Throughout the 1990s, KLP developed the business further by, among other things, establishing its own non-life insurance company, property company and asset management company.
In 2011, seven municipalities and one county municipality chose to put their occupational pension scheme out to tender. After final consideration, seven out of eight chose KLP as provider of public service pension.
From Wikipedia’s article on Kommunal Landspensjonskasse, shared under CC BY-SA 4.0.5