Länsförsäkringar AB: Interim report January–March 2016

  • The Group’s operating profit amounted to SEK 537 M (487). The return on equity amounted to 9% (9).
  • Operating profit in the non-life insurance operations amounted to SEK 172 M (171). Premiums earned after ceded reinsurance amounted to SEK 1,297 M (1,227).
  • Operating profit for the Bank Group totalled SEK 341 M (279). Net interest income strengthened to SEK 789 M (685).
  • Operating profit for Länsförsäkringar Fondliv amounted to SEK 118 M (132). Premium income amounted to SEK 2,297 M (2,454). Commission income amounted to SEK 336 M (343).

(First quarter of 2016 compared with first quarter of 2015)

”The Länsförsäkringar AB Group reported operating profit of SEK 537 M, up 10 % and in line with our expectations. The improvement in earnings was primarily attributable to the Bank Group, where the positive trend in increasing business volumes continued. The technical result for the non-life insurance business improved, driven by strong earnings in Agria and in accident insurance in Business Area Health.

Turmoil in the stock markets impact the operations in several ways, for example, negative growth in insurance capital in unit-linked insurance and fund savings, which led to slightly lower earnings.

During the quarter, we saw further examples of confirmation that our way of offering banking and insurance services is popular among customers. According to the 2016 Sustainable Brand Index survey, Länsförsäkringar is the most sustainable brand in the insurance industry and our bank again topped the 2016 Reputability Barometer” says Sten Dunér, President Länsförsäkringar AB.

Read the full report:  http://www.lansforsakringar.se/om-oss/in-english/financial-reports/lansforsakringar-ab/

For further information, please contact:
Sten Dunér, President Länsförsäkringar AB, +46 8-588 411 15, +46 73-964 11 15, sten.duner@lansforsakringar.se

Malin Rylander Leijon, CFO Länsförsäkringar AB, +46 8-588 408 64, +46 73-964 08 64, malin.rylander-leijon@lansforsakringar.se

Fanny Wallér, Director of Communications Länsförsäkringar AB, +46 8-588 414 69,  +46 70-692 77 79, fanny.waller@lansforsakringar.se

The Länsförsäkringar Alliance comprises 23 local and customer-owned regional insurance companies and the jointly owned Länsförsäkringar AB. Customers are provided with a complete offering of banking and insurance services through their local, regional insurance companies. We offer animal and crop insurance through Agria Djurförsäkring and total solutions for reliable mortgage transactions are offered through Länsförsäkringar Fastighetsförmedling.

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About Us

Länsförsäkringar is Sweden’s only customer-owned and locally established banking and insurance group. The customers in each of the counties in the country own their local and independent regional insurance company. The 23 regional bank and insurance companies cooperate in the jointly owned Länsförsäkringar AB, which conducts development and provides services within banking, life assurance, non-life insurance and animal insurance. Länsförsäkringar offers a broad range of insurance and banking services for individuals, companies and farming. All companies within the Länsförsäkringar Alliance are environmentally certified in accordance with ISO 14001.