Press release - If Group 9 months result

Press release - If Group 9-month report January 1 - September 30, 2003 * The positive earnings trend continued. The operating result for the first nine months rose substantially to SEK 1,860m (neg: 2,684) * Earnings in the insurance business improved sharply, as the implemented profitability-enhancing measures came into effect and due to the strong current-year claims result * The combined ratio improved to 101.5% (106.6%). The year-end combined ratio is expected to be in line with the nine-month figure, given no exceptional claims developments * Prior-year claims loss of SEK 1.1bn in Scandinavia (neg: 194m) * The investment result benefited from the upturn in equity markets. The YTD investment return was 3.7% (0.3%), corresponding to an annualized return of 4.9% * In October, If announced the sale of the Marine & Energy business area If P&C Insurance* 106 80 Stockholm Sweden www.if-insurance.com Torbjörn Magnusson, President and CEO +46 8 788 11 07 Ricard Wennerklint, CFO + 46 8 788 11 63, +46 70 688 11 63 Caroline Rosén, Head of Investor Relations + 46 8 788 38 53, +46 70 589 00 37 If is the leading property & casualty insurance company in the Nordic area, with annual sales of SEK 38 billion in 2002 and 7,500 employees. If's shareholders are Sampo 38.05%, Storebrand 22.47%, Skandia 19.36%, Skandia Liv 10.06% and Varma-Sampo 10.06%. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2003/11/05/20031105BIT00050/wkr0001.doc The full report http://www.waymaker.net/bitonline/2003/11/05/20031105BIT00050/wkr0002.pdf The full report