SPP's new model for traditional life insurance will be presented today at Handelsbanken's Capital Markets Day in Stockholm.

 "Customers will have a modern product with the greatest security in the market and with a fundamental guarantee, combined with a degree of choice which no other market player can offer," says Pär Boman, ahead of the Capital Markets Day. He also points to the drawbacks of the old system:

 "Pension insurance plans are long-term agreements. They are entered into at different times, where the situation for interest rates and the stock market may vary, and then the plans have to be managed together over a long period of time. This forces the asset manager to make sub-optimal compromises which are sometimes clearly disadvantageous for the savers. Furthermore, the policyholders may themselves change their personal situation and risk profile two or three times during the life of the agreement. Thus this product development which gives each saver the opportunity to change and adapt the policy individually, is almost as important in a customer perspective as the right to transfer funds implemented by SPP after the demutualisation."

 It is not just the customers who benefit from the new model. It also reduces SPP's risk exposure and makes its earnings more stable.

Another subject at the Capital Markets Day is the market's demands for increased availability by the banks:

 "Customers increasingly want to meet us and do business outside normal office hours. We plan to get better at meeting these demands."

 Pär Boman will also speak about his view of how Handelsbanken will increase the growth in its existing branch network, open more branches in Great Britain and focus on the savings market.

 

 

 

Material from Handelsbanken's capital markets day is available at http://www.handelsbanken.se/ireng