Year-end report 2002

Länsförsäkringsgruppen (Länsförsäkringar Alliance) Year-end report 2002 The year 2002 in brief · Market shares continued to grow in all three core areas, to 29.2% (28.7) in nonlife insurance, by a full 2.8 percentage points to 10.5% (7.7) in life and unitlinked insurance, and to 2.6% (2.5) in the bank. · Despite the sharp stock market decline, Länsförsäkringar continued to report strong balance sheets, with a collective solvency margin in the life insurance operations of 120% and a solvency margin of 117% in the non-life insurance operations. · The trend of the financial markets has resulted in a negative return of 9.2% (neg: 4.2) on investment assets in life insurance, and has had a major impact on earnings in the entire insurance industry. · The technical result in non-life insurance amounted to a loss of SEK 435 M (loss: 449). The operating result in non-life insurance amounted to a loss of SEK 4,023 M (loss: 3,225), and the year's result in life insurance amounted to a loss of SEK 12,442 M (loss: 12,738). Earnings for the year for the bank operations generated a profit of SEK 19.9 M (1.4). · Länsförsäkringar continues to have Sweden's most satisfied customers in non-life insurance, life insurance and banking. · Länsförsäkringar was named "Bank of the Year 2002" by the magazine Privata Affärer. · Due to the efforts of a new asset manager, ABN AMRO, investment income has improved since June 2002. "Länsförsäkringar today is a complete financial group with a broad product offering in banking and insurance. We are growing rapidly and market conditions in our three core areas - non-life insurance, life insurance and banking - are favorable. Despite the stock market decline, Länsförsäkringar has strong balance sheets and continued excellent solvency in life insurance. Combined with its considerable market success, this shows that Länsförsäkringar has a strong platform for continued growth." Tommy Persson, CEO, Länsförsäkringar AB For additional information, contact: Tommy Persson, CEO, Länsförsäkringar AB, +46-8-588 400 00 Christer Baldhagen, Senior VP, Corporate Communications, Länsförsäkringar AB, +46-8-588 415 01 / +46-70-579 70 66 ------------------------------------------------------------ This information was brought to you by Waymaker The following files are available for download: The full report

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.


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