Länsförsäkringar continues to increase in banking and insurance

Länsförsäkringar continues to increase in banking and insurance As shown in the quarterly statistics for the first quarter of 2004 released by the Association of Swedish Insurance Companies, Länsförsäkringar's market share in non-life insurance rose by 1.2 percentage points to 31.4%. The market share in life assurance measured in new sales was 11.6%. Länsförsäkringar's banking operations also continue to grow. The market share in deposits increased during the period March 2003 to March 2004 from 2.7% to 3.0%. The market share in housing loans (first mortgages) increased from 1.3% to 2.1% Banking The bank operations showed a continued sharp earnings and volume growth. During the most recent 12-month period lending rose 42% and deposits by 11%. The position on the housing mortgage market was strengthened further and mortgage lending rose by 78% during the same period. The number of full-service customers, those with current account, cards, savings and loans, is increasing steadily. Market share measured in terms of deposits from households was 3.0% at March 31 2004, an increase of 0.3 percentage points compared with the year-earlier period. Market share measured as lending to households rose from 2.1% to 2.4%. Länsförsäkringar's market share of housing loans (first mortgages) was 2.1% at the end of March, an increase of 0.8 percentage points. Funds At March 31, Länsförsäkringar had a market share of 3.9% of the total fund market. This is an increase of 0.1 percentage points compared with the corresponding period in 2003. Measured as net sales, the market share declined from 6.4% to 4.4%. Non-life insurance Länsförsäkringar further strengthened its position in the Swedish non- life insurance market. As shown in the statistics released by the Association of Swedish Insurance Companies for the first quarter, the market share rose to 31.4%, measured as premiums paid. This is an increase of 1.2 percentage points compared with a year earlier. Market share in household and homeowners' insurance was unchanged at 32.3%. Market share decreased in motor third-party liability insurance by 0.6 percentage points to 32.4% and market share measured in number of insurances was unchanged at 36.2%. The market share in commercial insurance increased by 1.6 percentage point compared with 2003, from 35.2% to 36.8%. Life assurance Länsförsäkringar's market share measured in terms of premium income declined slightly, from 9.0% to 8.4%. Market share in terms of new sales rose, however, by 0.8 percentage points to 11.6%. Länsförsäkringar's market shares, March 31, 2004: Market March 31, March 31, Change in 2004 (%) 2003 (%) percentage points Non-life insurance, premiums paid 31.4 30.2 +1.2 Life assurance, new sales 11.6 10.8 +0.8 Life assurance, premium income 8,4 9.0 -0.6 Funds 3.9 3.8 +0.1 Bank, deposits 3.0 2.7 +0.3 Bank, lending 2.4 2.1 +0.3 Bank, mortgages(first mortgages) 2.1 1.3 +0.8 For further information, contact: Mikael Östlund +46 (0)70-553 12 82 Vice President Corporate Communications LänsförsäkringarAB 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/2004/05/14/20040514BIT00110/wkr0001.doc http://www.waymaker.net/bitonline/2004/05/14/20040514BIT00110/wkr0002.pdf