Septmber sales SEK 8.4 billion

September sales SEK 8.4 billion 1) ) Sales in September Sales amounted to SEK 8.4 billion, compared with SEK 9.7 billion in August 2001. Since the stock markets in the USA were closed for nearly a week in September, no trading could be conducted in funds containing American stocks, which affected sales negatively in most of our markets. New sales of unit linked assurance through September New sales of unit linked assurance decreased by 19 per cent compared with the same period a year ago. New sales outside the USA increased by 2 per cent, due to a higher portion of unit linked assurance business with annual premium. Sales through September Skandia's sales through September amounted to SEK 106.9 billion (157.9). Sales are reported exclusive of paid-in premiums to Skandia Liv, totalling SEK 10.9 billion (9.1), and discretionary management inflows for Skandia Asset Management. Of total sales, SEK 71.8 billion (108.8) pertain to unit linked assurance, SEK 27.9 billion (43.5) to mutual fund savings products 2) ), and SEK 6.0 billion (4.7) to direct sales of funds. USA In the USA, sales of variable annuities through September totalled USD 3.0 billion (6.9), and sales of mutual funds totalled USD 1.7 billion (3.3). Other markets In the UK, sales totalled GBP 2.1 billion (3.0). In Sweden, SkandiaLink's sales amounted to SEK 8.1 billion (8.1). Sales in New Markets totalled SEK 12.5 billion (12.5). Recalculated to average exchange rates, sales from January through September were favourably affected by currency movements in the amount of SEK 10.3 billion. In order to achieve accurate recognition of income and expenses, Skandia has been using the embedded value method since 1989 for business control as well as for external reporting according to the group overview. Skandia's result measurement is described in the 2000 Annual Report, which also includes a sensitivity analysis describing the impact of various factors on the result. Since contracts in force span long periods of time, sharp swings in the financial markets during a short period of time have a major impact on the present value of future profits. The sensitivity analysis presented in the half-year interim report shows that a one per cent increase or decrease in the stock market affects the result by +/- SEK 213 million, respectively. In advance of the interim report, Skandia will publish on 18 October 2001 the development of the indexes that are relevant for Skandia through the third quarter 2001. The interim report for the third quarter will be released on 1 November 2001. For further information, please contact: Harry Vos, Head of Investor Relations, tel. +46-8-788 3643 Definitions of sales Sales Sales pertain to paid-in premiums and deposits in funds from Skandia's customers. New sales New sales pertain to single and regular premiums from unit linked contracts entered into in 2001, recalculated to full-year figures. According to industry practice, new sales are defined as regular premiums recalculated to full-year figures plus 1/10 of single premiums during the period. Appendix: Sales per month and exchange rates in 2001 and 2000 Sales per month Insurance and Direct sales Total (SEK billion) mutual funds of funds 2001 January 12.3 0.7 13.0 February 11.6 0.4 12.0 March 13.3 0.4 13.7 April 12.2 0.9 13.1 May 12.0 1.0 13.0 June 11.5 1.5 13.0 July 10.4 0.6 11.0 August 9.5 0.2 9.7 September 8.1 0.3 8.4 Total 100.9 6.0 106.9 Sales per month Insurance and Direct sales Total (SEK billion) mutual funds of funds 2000 January 16.7 0.7 17.4 February 18.7 0.4 19.1 March 23.9 0.6 24.5 April 18.5 0.5 19.0 May 17.4 0.4 17.8 June 15.3 0.4 15.7 July 14.1 0.5 14.6 August 14.6 0.6 15.2 September 14.0 0.6 14.6 Subtotal 153.2 4.7 157.9 October 15.5 1.5 17.0 November 14.9 1.6 16.5 December 14.0 1.5 15.5 Total 197.6 9.3 206.9 Exchange 2001 2001 2001 2000 2000 2000 2000 rates 30 31 30 31 30 31 30 Sept Aug. June Dec. Sept. Aug. June SEK EUR Closing 9.72 9.49 9.22 8.86 8.52 8.43 8.41 rate EUR Average 9.22 9.16 9.08 8.45 8.39 8.39 8.39 rate GBP Closing 15.68 15.16 15.31 14.22 14.16 13.73 13.38 rate GBP Average 14.91 14.81 14.69 13.86 13.71 13.69 13.70 rate USD Closing 10.67 10.45 10.89 9.54 9.68 9.44 8.81 rate USD Average 10.37 10.33 10.26 9.17 8.92 8.87 8.73 rate JPY Closing 0.090 0.088 0.087 0.083 0.090 0.089 0.083 rate JPY Average 0.086 0.085 0.085 0.085 0.083 0.082 0.082 rate All comparison figures pertain to the corresponding period a year earlier, unless otherwise indicated. Includes SEK 1.0 billion (0.7) in discretionary management in Spain. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2001/10/10/20011010BIT00280/bit0001.doc http://www.waymaker.net/bitonline/2001/10/10/20011010BIT00280/bit0001.pdf