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Länsförsäkringar AB: Interim report January–June 2015

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(Figures in parentheses pertain to January-June 2014)

  • The Group’s operating profit amounted to SEK 845 M (714). The return on equity amounted to 8% (7).
  • Operating profit in the non-life insurance operations amounted to SEK 326 M (308). Premiums earned after ceded reinsurance amounted to SEK 2,474 M (2,203).
  • Operating profit for the Bank Group totalled SEK 559 M (428). Net interest income strengthened to SEK 1 411 M (1 208).
  • Operating profit for Länsförsäkringar Fondliv amounted to SEK 266 M (171). Premium income amounted to SEK 4,635 M (4,585). Commission income amounted to SEK 967 M (570).
  • Net sales for the Parent Company amounted to SEK 1 280 M (1 198).

“The Länsförsäkringar AB Group’s operating profit amounted to SEK 845 M, up 18 percent compared with the first six months of 2014. However, the weaker stock-market performance impacted the earnings trend for the quarter. The bank is growing at high profitability, and profit increased SEK 130 M year-on-year. Growth in lending continued at high credit quality and with low loan losses. Favourable premium growth and stable claims costs also contributed to a SEK 18 M year-on-year improvement in profit in the non-life insurance operations. In unit-linked life assurance, insurance capital amounted to SEK 8.6 billion for the first six months of the year, contributing to an earnings improvement of SEK 95 M. We are in the final stages of the time-consuming work on Solvency II – a highly comprehensive and complex set of regulations. These regulations ultimately serve an important function, but it is nonetheless unsatisfactory that so many issues remain unclear before the implementation in Sweden”, says Sten Dunér, President Länsförsäkringar AB.

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

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, +468-588 414 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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Q2 Q2 2015

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