Länsförsäkringar continues to grow in banking and insurance
Länsförsäkringar continues to grow in banking and insurance Länsförsäkringar continues to show favourable growth in banking and insurance. As shown in the quarterly statistics for the second quarter of 2004 released by the Association of Swedish Insurance Companies, the market share in non-life insurance rose by 1.6 percentage points to 32.0%. The share of the total life assurance market declined somewhat, while at the same time Länsförsäkringar is growing in the important market for occupational pension insurance. Länsförsäkringar's banking operations also continue to grow. The market share in deposits increased during the period June 2003 to June 2004 from 2.8% to 2.9%. The market share in housing loans (first mortgages) rose from 1.5% to 2.4% Non-life insurance Länsförsäkringar secured its strong position in the Swedish non-life insurance market. According to the statistics released by the Association of Swedish Insurance Companies for the second quarter, the market share rose to 32.0%, an increase of 1.6 percentage points. Market share in household and homeowners' insurance, measured as premiums paid, was 32.6%, up 0.3 percentage points. Market share in motor third-party liability insurance was unchanged at 32.8%. The market share in commercial insurance increased by 2.8 percentage points to 38.4%. Life assurance Länsförsäkringar's market share measured in terms of premium income declined, from 8.7% to 8.5% during the 12-month period. Market share in terms of new sales also declined, from 11.3% to 10.9%. Despite the decline in the share of the total life assurance market, Länsförsäkringar is growing in the important occupational pension insurance market. Measured as new sales, the market share rose from 11.4% to 12.2% and in terms of premium income market share increased from 8.0% to 8.5%. Banking Market share measured as deposits from households was 2.9% at the end of June 2004, an increase of 0.1 percentage points compared with the year- earlier period. Market share measured as lending to households rose from 2.2% to 2.4%. Länsförsäkringar's share of the market for housing loans (first mortgages) was 2.4% at the end of June 2004, an increase of 0.9 percentage points. Länsförsäkringar's market shares, June 30, 2004: Market June 30, June 30, Change in 2004 (%) 2003 (%) percentage points Non-life insurance, 32.0 30.4 +1.6 premiums paid Life assurance, 10.9 11.3 -0.4 new sales Life assurance, premium 8.5 8.7 -0.2 income Bank, deposits 2.9 2.8 + 0.1 Bank, lending 2.4 2.2 + 0.2 Bank, mortgages (first 2.4 1.5 + 0.9 mortgages) Note: the interim report for the banking operations and the financial results for the life assurance operations will be released on August 30. For further information, contact: Dag Rosander Press Officer Länsförsäkringar AB +46 (0)8-588 414 99 dag.rosander@lansforsakringar.se +46 (0)73-964 14 99 ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2004/08/18/20040818BIT21830/wkr0010.pdf