Länsförsäkringar Alliance: Interim Review January–March 2016

  • Operating loss for the Länsförsäkringar Alliance’s nonlife insurance operations amounted to SEK 277 M (profit: 3,635). Premiums earned after ceded reinsurance amounted to SEK 5,871 M (5,470).
  • The technical result in Länsförsäkringar Alliance´s non-life insurance operations amounted to SEK 356 M (398). The combined ratio amounted to 97 (95).
  • Investment income in Länsförsäkringar Alliance amounted to SEK -150 M (3,772).
  • Operating profit for the Bank Group amounted to 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).
  • Loss for Länsförsäkringar Liv amounted to SEK 1,082 M (profit: 1,789).

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

“Growth for the Länsförsäkringar Alliance remained favorable. The positive trend in premiums for the non-life insurance business continued and we saw growth in most areas. However, higher claims costs and a weaker stock market meant that earnings were weaker than the first quarter of the preceding year. Fire-damage claims at the start of the year were the main reason that claims costs increased and the combined ratio rose to 97. The positive performance of the banking operations continued, with increasing business volumes and strengthened 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, the alliance’s jointly owned company.

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

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.