Financial Supervisory Authority approves demutualisation of Länsförsäkringar Liv

The Swedish Financial Supervisory Authority has now approved Länsförsäkringar’s application for demutualisation to a profit-distributing life-assurance company as of January 1, 2010. Länsförsäkringar now shares the Authority’s principle opinion regarding crediting (distributing profits to policyholders) in a non-demutualised life-assurance company.

“We are pleased that we are now in agreement with the Financial Supervisory Authority on all principles regarding how our life-assurance company is to be demutualised to a profit-distributing company, including the issue of crediting. The key issue now is how we are to proceed with the demutualisation process and how we can strengthen our offering to customers. There are not many days left until the end of the year and much work remains to be done, for example, solving the issues of valuation. Accordingly, we need to carry out a swift analysis and establish a time schedule for our work ahead,” says Jörgen Svensson, President of Länsförsäkringar Liv. For further information, please contact: Jörgen Svensson, President, Länsförsäkringar Liv, +46 73 964 06 08 Christer Baldhagen, Senior Vice President Corporate Communications, Länsförsäkringar AB, +46 70 579 70 66