Länsförsäkringar AB receives high credit rating, A-, from Standard and Poor's

11/3/2003 5:00 AM EST

Länsförsäkringar AB receives high credit rating, A-, from Standard and
Poor's

Länsförsäkringar AB was rated A- stable by Standard & Poor's. It is the
first time Standard and Poor's has provided a credit rating for
Länsförsäkringar AB. The highest credit rating for non-life insurance
companies in Sweden, A, is held by Länsförsäkringar Sak (Non-life), a
subsidiary of Länsförsäkringar AB.

"The high credit rate is a proof of Länsförsäkringar's financial
strength and favourable financial and market results. Our focus is aimed
at increased efficiency, reduced costs, improved earnings and a
responsible investment philosophy", says Sten Dunér, Group Controller,
Länsförsäkringar AB.

Standard and Poor's writes that the main reason for the rating is the
financial strength, which remains strong despite uncertainty in the
market. The strong brand and the fact that Länsförsäkringar during the
past ten years has Sweden's most satisfied customers is another
important reason. The trend within Länsförsäkringar Sak is the third
factor that Standard & Poor's weighted heavily, particularly that the
combined ratio improved from 115.5% to 106% in less than two years.
Standard & Poor's also wrote in its credit assessment that the aim of
operations is a distinct focus on profitability and market growth.

For further information, please contact:
Sten Dunér, Group Controller, Länsförsäkringar AB
+46 8 588 411 15
 
+46 73 964 11 15

Mikael Östlund, Vice President, Corporate Communications
+46 8 588 418 50