Länsförsäkringar Alliance: Year-End Report 2013

Comparison period of 2012 in brackets:

• Operating profit for the Alliance’s non-life insurance operations amounted to SEK 3,940 M (3,013).
• The technical result in the Alliance’s non-life insurance operations amounted to SEK 1,285 M (1,439). The combined ratio amounted to 98 (97).
• Investment income in the Alliance amounted to SEK 4,407 M (3,282). Solvency capital strengthened SEK 4,732 M to SEK 40,469 M.
• Operating profit for the Bank Group amounted to SEK 647 M (555).
  Net interest income strengthened to SEK 2,230 M (2,071).
• Profit for Länsförsäkringar Fondliv amounted to SEK 246 M (128). Premium income was SEK 9,473 (8,713). Commission income amounted to SEK 994 M (955).
• Profit for Länsförsäkringar Liv amounted to SEK 5,1 billion (4,9). The solvency ratio was 118% (113) and the total return amounted to negative 3.0% (pos: 6.0).

“ 2013 was a successful year for the Länsförsäkringar Alliance. The Alliance reported a stable technical result, although the year ended with a number of large storm damages and fires having a major impact on several regional insurance companies. Premium volumes in non-life insurance increased almost 4% and we surpassed SEK 20 billion in premiums earned. Very strong investment income contributed to operating profit amounting to almost SEK 4 billion. Based on net profit for the year, the regional insurance companies will pay more than SEK 400 M in total of bonuses and discounts to their customers.

The Länsförsäkringar Alliance jointly conducted a number of exciting development projects during the year aimed at creating even better tools for our customer meetings. For example, we have continued the successful development of our mobile services. Customers demand for leading-edge mobile services is increasing at a rapid pace and in this we are at the very forefront of development, for which we have received several accolades,” says Sten Dunér, President of Länsförsäkringar AB.

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

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.