Market shares, banking and insurance: Länsförsäkringar posts high growth in occupational pension market

As shown in the quarterly statistics for the third quarter of 2004 released by the Association of Swedish Insurance Companies, Länsförsäkringar is growing strongly in the occupational pension market, measured in terms of premium income and new sales. The share of the total life assurance market is, in principle, unchanged measured as premium income. In terms of new sales, the market share increased and Länsförsäkringar is now the third largest company in the life assurance market. The market share in non-life insurance rose by 1.5 percentage points to 32.2% – the largest market share to date. Länsförsäkringar’s market share in bank deposits increased during the period September 2003 to September 2004 from 2.8% to 2.9%. The market share in housing loans (first mortgages) rose from 1.8% to 2.4%. In the fund market, the market share is 4.0%, an increase of 0.1 percentage points compared with the year-earlier period. Länsförsäkringar’s market shares, third quarter 2004 Life assurance Länsförsäkringar’s market share measured in terms of premium income is, in principle, unchanged at 8.8% during the 12-month period. Market share in terms of new sales rose, from 11.0% to 11.5%. Länsförsäkringar continues to grow in the key occupational pension market. Measured as new sales, the market share rose from 11.4% to 13.1% and in terms of premium income market share increased from 8.2% to 8.8%. “Our strategic focus on pensions is clearly apparent. It is pleasing that we rose considerably in both the occupational and private pension sectors and that we are now the third largest company in the life assurance market in terms of new sales,” says Hans Benndorf, President, Länsförsäkringar Liv. Non-life insurance Länsförsäkringar continues to secure its strong position in the Swedish non-life insurance market. The market share rose to 32.2%, an increase of 1.5 percentage points. Market share in household and homeowners’ insurance, measured as premiums paid, was 33.9%, an increase 2.4 percentage points. The market share in motor third-party liability insurance declined somewhat while at the same time it increased in motor-vehicle insurance, from 28.1% to 30.0%. The market share in commercial insurance increased by 3.6 percentage points to 39.1%. Banking Market share measured as deposits from households was 2.9% at the end of September 2004, an increase of 0.1 percentage points compared with the corresponding period in the preceding year. Market share measured as lending to households rose from 2.3% to 2.5%. Länsförsäkringar’s share of the market for housing loans (first mortgages) was 2.4% at the end of September 2004, an increase of 0.6 percentage points. Funds At the end of September 2004, Länsförsäkringar’s customers had SEK 38.3 billion invested in the company’s funds. This corresponds to a market share of 4%, corresponding to an increase of 0.1 percentage points compared with the year earlier period. Länsförsäkringar’s share of the net flow, measured in rolling 12-month figures, was 6.2%. For further information, contact: Dag Rosander +46 8 588 414 99 Vice President Corporate Communications +46 73 96 414 99 dag.rosander@lansforsakringar.se