Länsförsäkringar Alliance: Interim Review January-March 2014

January-March 2014
Comparison period of January-March 2013 in brackets.

  • Operating profit for the Alliance’s non-life insurance operations amounted to SEK 1,410 M (1,188).
  • The technical result in the Alliance’s non-life insurance operations amounted to SEK 524 M (265). The combined ratio amounted to 94 (99).
  • Investment income in the Alliance amounted to SEK 1,180 M (1,241). Solvency capital strengthened SEK 4,644 M to SEK 41,524 M.
  • Operating profit for the Bank Group amounted to SEK 197 M (136).
    Net interest income strengthened to SEK 584 M (544).
  • Profit for Länsförsäkringar Fondliv amounted to SEK 77 M (59). Premium income amounted to SEK 2,328 M (2,742). Commission income amounted to SEK 278 M (233).
  • Profit for Länsförsäkringar Liv amounted to SEK 211 M (71). The solvency ratio was 117% (113) and the total return amounted to 2.6% (negative 2.4).

The Länsförsäkringar Alliance began the year strongly, in terms of both earnings and growth. Profit for the Alliance’s total non-life insurance business strengthened, largely due to an increased portfolio combined with lower claims costs. In the banking operations, business volumes continued to rise, and profit increased 45%. Managed assets in the unitlinked life assurance company also continued to increase. The Alliances’ total solvency capital strengthened during the quarter by slightly more than SEK 1 billion.” says Sten Dunér, President of Länsförsäkringar AB.

The Länsförsäkringar Alliance is neither a legal entity nor, in the legal sense of the term, a Group; it is an alliance between 23 independent regional insurance companies that jointly own Länsförsäkringar AB. Länsförsäkringar's earnings from non-life insurance consist of the total of the earnings of the 23 regional insurance companies and of the jointly-owned Länsförsäkringar AB, excluding life assurance and banking.

Read the entire report: http://www.lansforsakringar.se/privat/om_oss/in_english/financial/lansforsakringar-alliance/sidor/default.aspx

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

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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.