Länsförsäkringar strengthens its market position in banking and insurance

Länsförsäkringar strengthens its market position in banking and insurance As shown in the quarterly statistics for the fourth quarter of 2003 released by the Association of Swedish Insurance Companies, Länsförsäkringar's market share in non-life insurance rose by 1.4 percentage points to 30.7%. The market share in life assurance measured in new sales was unchanged, 10.5%. Länsförsäkringar's banking operations continued to grow. The market share in deposits increased during the period December 2002 to December 2003 from 2.6% to 2.9%. The market share in housing loans (first mortgages) increased from 1.1% to 2.0% Banking Market share measured in terms of deposits from households was 2.9% at December 31, 2003, an increase of 0.3 percentage points compared with a year earlier. Market share measured as lending to households rose from 2.0% to 2.3%. Länsförsäkringar's market share of housing loans (first mortgages) was 2.0% at the end of December, an increase of 0.9 percentage points. The banking operations developed highly favourably during the year. Since 2001, the number of customers that have combined their daily financial activities with Länsförsäkringar has risen five-fold and people are choosing Länsförsäkringar as their main bank. In addition, the bank has taken a giant stride forward in the mortgage market during the year. Direct savings in funds At December 31 Länsförsäkringar had a market share of 3.9% of the total fund market. This is an increase of 0.1 percentage points compared with 2002. Measured as net sales, the market share declined from 5.8% to 5.5%. Non-life insurance Länsförsäkringar strengthens its market position in the Swedish non-life insurance market. As shown in the statistics released by the Association of Swedish Insurance Companies for the fourth quarter, the market share rose to 30.7%, measured as premiums paid. This is an increase of 1.4 percentage points compared with a year earlier. Market share in household and homeowners' insurance was 32.3%. Market share also increased in motor vehicle insurance by 2.0 percentage points to 29.0%. The market share in commercial insurance increased by nearly a percentage point compared with 2002, from 34.3% to 35.2%. Life assurance Länsförsäkringar's market share measured in terms of premium income declined slightly, from 8.8% to 8.5%. Market share in terms of new sales was unchanged at 10.5%. In the occupational pension market, Länsförsäkringar posted growth of 12% and in the submarket private pensions, the market share increased from 9.6% to 10.5%. In the savings submarket, primarily endowment insurance, market share rose from 9.6% to 9.7%. Länsförsäkringar's market shares, December 31, 2003: Market December 31, December 31, Change in 2003 (%) 2002 (%) percentage points Non-life insurance, premiums paid 30.7 29.3 + 1.4 Life assurance, new sales 10.5 10.5 unchanged Life assurance, premium income 8.5 8.8 - 0.3 Funds 3.9 3.8 + 0.1 Bank, deposits 2.9 2.6 + 0.3 Bank, lending 2.3 2.0 + 0.3 Bank, housing loans (first mortgages) 2.0 1.1 + 0.9 Länsförsäkringar's market shares are the sum of the market shares in the 24 regional insurance companies. Full year end reports of Länsförsäkringar Alliance and Länsförsäkringar Bank presents February 20. For further information, contact: Mikael Östlund +46 8 588 410 94 Vice President Corporate Communications +46 70 553 12 82 mikael.ostlund@lansforsakringar.se Länsförsäkringar, with 24 independent regional insurance companies and the jointly owned Länsförsäkringar AB, is Sweden's only customer-owned and locally based banking and insurance group. Länsförsäkringar has Sweden's most satisfied customers and is the most competitively priced bank with the most loyal customers according to the Swedish Quality Index. Länsförsäkringar is the "Life Assurance and Non-life Insurance Company of the Year" according to the Affärsvärlden business weekly and was named "Bank of the Year 2002" by the Privata Affärer business magazine. Länsförsäkringar offers a broad range of insurance and financial services for companies and private individuals. Länsförsäkringar is the market leader in the Swedish non-life insurance segment, with a market share exceeding 30%. The market share in life and pension assurance is 10.5% and 2.9% in banking. Länsförsäkringar also includes Agria Djurförsäkring (animal insurance). Länsförsäkringar manages assets of SEK 130 billion. Premium income in 2002 amounted to about SEK 20 billion. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2004/02/16/20040216BIT00270/wkr0001.doc http://www.waymaker.net/bitonline/2004/02/16/20040216BIT00270/wkr0002.pdf

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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