Länsförsäkringar continues to grow in banking and insurance
Länsförsäkringar continues to grow in banking and insurance As shown in the quarterly statistics for the third quarter of 2003 released by the Association of Swedish Insurance Companies, Länsförsäkringar's market share in non-life insurance rose by 1.3 percentage points to 30.3%. The market share in life assurance measured in new sales rose by 1.4 percentage points to 10.8%. Länsförsäkringar's banking operations also continue to grow. The market share in deposits increased during the period September 2002 to September 2003 from 2.5% to 2.8%. Non-life insurance The total market share for non-life insurance rose from 29.0% to 30.3%. In the private market, Länsförsäkringar captured new market shares in all products except private home insurance. Länsförsäkringar's market share in commercial and property insurance was 35.5%, corresponding to an increase of 2.3 percentage points. Life assurance Market share measured in terms of premium income declined slightly, from 8.9% to 8.8%. Market share in terms of new sales rose during the period from 9.4% to 10.8%. In the occupational pension market, market share rose from 9.8% to 11.2%, measured in new sales. Banking operations Total lending rose by 58% to SEK 27.9 billion and deposits by 25% to SEK 17.4 billion. Market share measured in terms of deposits from households was 2.8% in September 2003. Mortgage lending rose by SEK 8.2 billion, corresponding to an increase of 132%. Total volume amounted to SEK 14.4 billion at September 30, 2003. The number of home mortgage customers was 46,000. Fund operations At September 30, our customers had a total of SEK 31.7 billion invested in Länsförsäkringar's funds, corresponding to a market share of 3.9%. This represents an increased from the year-earlier period of 0.2 percentage points. Länsförsäkringar's share of the net flow measured over a rolling 12-month period was 5.2% in September. Market shares, September 30, 2003: Market September 30, September 30, Change in percentage 2003 (%) 2002 (%) points Non-life insurance, 30.3 29.0 + 1.3 premiums paid Life assurance, 10.8 9.4 + 1.4 new sales Life assurance, 8.8 8.9 - 0.1 premium income Funds 3.9 3.7 + 0.2 Bank, deposits 2.8 2.5 + 0.3 For further information, contact: Mikael Östlund, Vice President, +46 (0)8-588 410 94 Corporate Communications Länsförsäkringar +46 (0)70-553 12 82 mikael.ostlund@lansforsakringar.se ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2003/11/13/20031113BIT00470/wkr0001.doc http://www.waymaker.net/bitonline/2003/11/13/20031113BIT00470/wkr0002.pdf