Länsförsäkringar AB:Year-End Report 2012

 The Länsförsäkringar AB Group reports a strong performance for 2012, with a substantial improvement in earnings due to stronger net interest income, a more favourable claims trend and satisfactory investment income. Länsförsäkringar’s continued top ranking in the Swedish Quality Index’s customer satisfaction survey in banking and insurance can be seen in the sharp increase in business volumes in both unit-linked insurance and banking. The non-life insurance market is a relatively mature market that is growing slowly. Growth is mainly taking place in animal and health insurance. It was in these growth markets and in reinsurance that Länsförsäkringar grew in 2012.” says Sten Dunér, President Länsförsäkringar AB.

Year in brief

• The Group’s operating profit increased SEK 535 M to SEK 822 M (287). Return on equity amounted to 4.7% (2.4).
• The Group’s equity rose SEK 714 M to SEK 13,913 M and solvency capital to SEK 15,589 M (14,801).
• Operating profit for the non-life insurance operations increased SEK 398 M to SEK 486 M (88). The improvement was due to lower claims costs and stronger investment income. Premiums earned amounted to SEK 4,024 M (4,004).
• Operating profit in the Bank Group rose SEK 171 M to SEK 556 M (385). The increase in profit was primarily attributable to net interest income strengthening to SEK 2,071 M (1,728).
• Business volumes in the banking operations increased SEK 32 billion to SEK 283 billion (251).
• Profit for Länsförsäkringar Fondliv amounted to SEK 128 M (59). Commission income totalled SEK 956 M (119). Comparative figures pertain to two months.
• Premium income for unit-linked insurance rose 34% to SEK 8,714 M (6,518).

Figures in parentheses pertain to 2011.

Full report

For further information please contact:

Sten Dunér, President Länsförsäkringar AB,
+46 (0)8-588 411 15, +46 (0)73-964 11 15
sten.duner@lansforsakringar.se

Malin Rylander Leijon, CFO Länsförsäkringar AB,
+46 (0)8-588 408 64, +46 (0)73-964 08 64
malin.rylander-leijon@lansforsakringar.se

Fanny Wallér, Head of Corporate Communications Länsförsäkringar AB
+46 8 588 414 69, +46 (0)70-692 77 79
fanny.waller@lansforsakringar.se

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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