Länsförsäkringar Alliance: Interim report, January – June 2005

“The 24 regional insurance companies that jointly make up the Länsförsäkringar Alliance show a highly favorable earnings trend. Our non-life insurance operations generated the highest earnings in the Swedish market, with a combined ratio as low as 89%. Life assurance operations generated a total return of 6.7%. Through strong key ratios, risk control and methods for matching liabilities and assets, we have been able to retain a high equities portion in our portfolio during the recent stock market rally. Länsförsäkringar’s bank operations continue to show a strong earnings trend and market success”, says Tommy Persson, Managing Director Länsförsäkringar AB, the Group’s jointly-owned company. Summary: • Excellent earnings and market success for Länsförsäkringar Alliance’s three core areas – non-life insurance, life assurance and banking. • Substantial earnings improvement within non-life insurance. The technical result amounted to SEK 1,297 M (996) and operating income before tax was SEK 3,529 M (1,832). The combined ratio improved to 89 (93). • Premium income from the life assurance operations rose by 4% to SEK 4,686 M (4,492). The total return was 6.7%. • Operating income from bank operations improved to SEK 69 M (56) after loan losses. Net interest income rose by 11% to SEK 435 M (393). Figures in parentheses refer to the period January – June 2004. The Länsförsäkringar Alliance is neither a legal entity nor, in the legal sense of the term, a Group; it is an alliance between 24 independent regional insurance companies that jointly own Länsförsäkringar AB. Earnings from non-life insurance consist of the sum total of the earnings of the 24 regional insurance companies and of the jointly-owned Länsförsäkringar AB Group, excluding the life assurance and bank groups. For further information, contact: Tommy Persson Managing Director Länsförsäkringar AB +46 8 588 400 00 Christer Baldhagen, Senior Vice President Corporate Communications Länsförsäkringar AB +46 8 588 415 01 +46 70 579 70 66 christer.baldhagen@lansforsakringar.se

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.

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