Länsförsäkringar Alliance: Interim Report January–September 2009

”Länsförsäkringar’s business activities in non-life insurance, life assurance and banking services were characterised by earnings improvements and a stable earnings trend. We have experienced a year dominated by an acute financial crisis and maintained strong key figures, while business volumes have risen, particularly in the banking operations. Our credit ratings are intact and our risk profile is low. We are now gradually increasing the percentage of equities in our portfolio as we continue to show the same respect for customers’ money as we have in the past,” says Sten Dunér, Acting President and CFO of Länsförsäkringar AB, the Alliance’s jointly owned company. The period in brief: • Based on a low risk profile and strong key figures, all core business segments are continuing to grow and generate favourable profitability. • Operating profit for non-life insurance operations improved substantially to SEK 4,646 M (loss: 5,596). The technical result amounted to SEK 1,337 M (1,880). • Solvency for non-life insurance remained strong. Solvency capital increased to SEK 30,364 M (28,248) and the solvency margin amounted to 167% (156). • The solvency ratio for life-assurance increased to 140% (130) and the collective consolidation level was 106% (95). Premium income rose 7% to SEK 11,587 M (10,822). The return on investment assets in Länsförsäkringar Liv (life assurance) was 0.1% (neg: 11.6). • Operating profit in the banking operations rose to SEK 196 M (186). Lending to the public was up 25% to SEK 94 billion (76) and deposits from the public rose by 13% to SEK 37 billion (33). Retail mortgage lending rose 23% to SEK 64 billion (52). The risk profile is low and credit quality remained high. • The number of customers in the regional insurance companies at the end of the period totalled 3,280,000, an increase of 25 000 during the period. The number of full-service customers increased by 11%.

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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