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Länsförsäkringar Alliance: 2014 Annual Review in summary

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Full year 2014 compared with full year 2013.

  • Operating profit for the Alliance´s non-life insurance operations amounted to SEK 5,604 M (3,863).
  • The technical result in the Alliance´s non-life insurance operations amounted to SEK 2,311 M (1,247). The combined ratio amounted to 93 (98).
  • Investment income in the Alliance amounted to SEK 5,033 M (4,441). Solvency capital strengthened SEK 6,446 M to SEK 46,904 M.
  • Operating profit for the Bank Group amounted to SEK 935 M (647). Net interest income strengthened to SEK 2,580 M (2,230).
  • Operating profit for Länsförsäkringar Fondliv amounted to SEK 373 M (247). Premium income amounted to SEK 8,543 M (9,473). Commission income amounted to SEK 1,171 M (994).
  • Profit for Länsförsäkringar Liv amounted to SEK 1,903 M (5,174). The solvency ratio was 122% (118).

“The Länsförsäkringar Alliance can look back on a highly successful year. Operating profit of SEK 5.6 billion for non-life insurance is an improvement of 45 percent compared with the year-earlier period. The basis is the strong technical result, the improvement was achieved through volume increases and cost control. The claims ratio fell from 79 to 74 percent during the year. The work on strengthening key figures and enabling improved returns for our customers in the traditional life-assurance company continued during the year, and the conversion to New Trad was successful. We also see excellent volume growth in all of our businesses. Premiums earned rose slightly more than 7 percent in non-life insurance, business volumes increased 13 percent in banking and insurance capital rose 20 percent in unit-linked life assurance.

In addition to favourable earnings and strong growth, we were pleased that surveys by the Swedish Quality Index (SKI) once again showed that we are the bank with the most satisfied retail customers. According to Privata Affärer, a swedish financial magazine, we are the Bank of the Year. However, the SKI results in non-life insurance were a disappointment. We will look at this, analyse the results and take action,” says Sten Dunér, President of Länsförsäkringar AB.

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

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
+46 8-588 414 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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