Länsförsäkringar AB receives high credit rating, A-, from Standard and Poor's

Länsförsäkringar AB receives high credit rating, A-, from Standard and Poor's Länsförsäkringar AB was rated A- stable by Standard & Poor's. It is the first time Standard and Poor's has provided a credit rating for Länsförsäkringar AB. The highest credit rating for non-life insurance companies in Sweden, A, is held by Länsförsäkringar Sak (Non-life), a subsidiary of Länsförsäkringar AB. "The high credit rate is a proof of Länsförsäkringar's financial strength and favourable financial and market results. Our focus is aimed at increased efficiency, reduced costs, improved earnings and a responsible investment philosophy", says Sten Dunér, Group Controller, Länsförsäkringar AB. Standard and Poor's writes that the main reason for the rating is the financial strength, which remains strong despite uncertainty in the market. The strong brand and the fact that Länsförsäkringar during the past ten years has Sweden's most satisfied customers is another important reason. The trend within Länsförsäkringar Sak is the third factor that Standard & Poor's weighted heavily, particularly that the combined ratio improved from 115.5% to 106% in less than two years. Standard & Poor's also wrote in its credit assessment that the aim of operations is a distinct focus on profitability and market growth. For further information, please contact: Sten Dunér, Group Controller, Länsförsäkringar AB +46 8 588 411 15 sten.duner@lansforsakringar.se +46 73 964 11 15 Mikael Östlund, Vice President, Corporate Communications +46 8 588 418 50 mikael.ostlund@lansforsakringar.se ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2003/11/03/20031103BIT00450/wkr0001.doc http://www.waymaker.net/bitonline/2003/11/03/20031103BIT00450/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.

Subscribe