Looks like you are missing the metal ring pictured here. It goes between the inner bearing and the rubber seal.
https://www.ipdusa.com/products/20822/Front-Wheel-Bearing-Kit-Genuine-Volvo-271391-139360?gclid=Cj0KCQjwxJqHBhC4ARIsAChq4atGrjpIOX2ri8qOJ_uGD-MMT-FQJx52ShwI4QBQrgVvA_6RxrrtJs8aAqkdEALw_wcB
Normally you can just reuse the old one provided you are a little bit careful removing it.