Länsförsäkringar AB: Year-end report 2014

Full year 2014 compared with full year 2013.

  • The Group’s operating profit amounted to SEK 1,469 M (923). The Group’s operating income amounted to SEK 22,780 M (18,558). The return on equity amounted to 7% (5).
  • Operating profit in the non-life insurance operations amounted to SEK 791 M (427). Premiums earned after ceded reinsurance amounted to SEK 4,099 M (4,122).
  • Operating profit for the Bank Group totalled SEK 935 M (647). Net interest income strengthened to SEK 2,580 M (2,230).
  • Operating profit for Länsförsäkringar Fondliv amounted to SEK 373 M (247). Premium income amounted to SEK 8,543 M (9,473). Commission income amounted to SEK 1,171 M (994).
  • Net sales for the Parent Company amounted to SEK 2,491 M (2,503).

“ For the Länsförsäkringar AB Group, we look back on a highly successful year. All lines of business showed significantly improved earnings. Operating profit was nearly SEK 1.5 billion, which is a substantial improvement in year-on-year earnings. In non-life insurance, the technical result improved 41 percent, mainly attributable to Agria. The bank reported very strong earnings and improved profitability. We also see excellent volume growth in all of our businesses. Business volumes rose 12 percent in non-life insurance and 13 percent in banking, while insurance capital rose 21 percent in unit-linked life assurance.

In addition to favourable earnings and strong growth, we were pleased that surveys by the Swedish Quality Index (SKI) once again showed that we are the bank with the most satisfied retail customers. According to Privata Affärer, a swedish financial magazine, we are the Bank of the Year.

During the year, we conducted a number of successful development projects, all ultimately intended to develop our customer meeting places, both physical and digital.” says Sten Dunér, President of Länsförsäkringar AB.

Read the entire report: http://www.lansforsakringar.se/stockholm/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.

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.

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