Länsförsäkringar Alliance: Interim Review January–June 2016
- Operating loss for the Länsförsäkringar Alliance’s nonlife insurance operations amounted to SEK 1,414 M (3,752). Premiums earned after ceded reinsurance amounted to SEK 11,777 M (11,113).
- The technical result in Länsförsäkringar Alliance´s non-life insurance operations amounted to SEK 828 M (1,185). The combined ratio amounted to 96 (92).
- Investment income in Länsförsäkringar Alliance amounted to SEK 1,426 M (3,135).
- Operating profit for the Bank Group amounted to SEK 697 M (559). Net interest income strengthened to SEK 1,615 M (1,411).
- Operating profit for Länsförsäkringar Fondliv amounted to SEK 249 M (266). Premium income amounted to SEK 4,394 M (4,635).
- Operating profit for Länsförsäkringar Liv amounted to SEK 401 M (3,038).
(Figures in parentheses pertain to January-June 2015)
“Business volumes for the Länsförsäkringar Alliance continued to perform positively. Premiums earned in non-life insurance business increased 6% to SEK 11.8 billion and we noted healthy growth in most areas, particularly in accident insurance and household and homeowner insurance. Agria continued to make a strong contribution to earnings. However higher claims costs, primarily in fire and water-damage claims, and lower investment income meant that earnings were weaker year-on-year.
The strong growth and customer inflow continued in the banking operations and the earnings trend was also favorable resulting in the best ever quarterly earnings. We secured market growth of 10% in household lending during the period.
Gratifying achievements in the first half of the year include high rankings in reputation and customer satisfaction surveys. For our digital services we won the award “Mobile Bank of the Year” at Mobilgalan and the Web Service Award for “Best Mobile Site and App” says Sten Dunér, President Länsförsäkringar AB, the alliance’s jointly owned company.
For further information, please contact:
Sten Dunér, President Länsförsäkringar AB, +46 8-588 411 15, +46 73-964 11 15, firstname.lastname@example.org
Malin Rylander Leijon, CFO Länsförsäkringar AB, +46 8-588 408 64, +46 73-964 08 64, email@example.com
Fanny Wallér, Director of Communications Länsförsäkringar AB, +46 8-588 414 69,
+46 70-692 77 79, firstname.lastname@example.org
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.