Länsförsäkringar continues to grow in banking and insurance

8/18/2004 10:38 AM EST

Länsförsäkringar continues to show favourable growth in banking and
insurance. As shown in the quarterly statistics for the second quarter
of 2004 released by the Association of Swedish Insurance Companies, the
market share in non-life insurance rose by 1.6 percentage points to
32.0%. The share of the total life assurance market declined somewhat,
while at the same time Länsförsäkringar is growing in the important
market for occupational pension insurance. Länsförsäkringar's banking
operations also continue to grow. The market share in deposits increased
during the period June 2003 to June 2004 from 2.8% to 2.9%. The market
share in housing loans (first mortgages) rose from 1.5% to 2.4%

Non-life insurance
Länsförsäkringar secured its strong position in the Swedish non-life
insurance market. According to the statistics released by the
Association of Swedish Insurance Companies for the second quarter, the
market share rose to 32.0%, an increase of 1.6 percentage points.

Market share in household and homeowners' insurance, measured as
premiums paid, was 32.6%, up 0.3 percentage points. Market share in
motor third-party liability insurance was unchanged at 32.8%. The market
share in commercial insurance increased by 2.8 percentage points to
38.4%.

Life assurance
Länsförsäkringar's market share measured in terms of premium income
declined, from 8.7% to 8.5% during the 12-month period. Market share in
terms of new sales also declined, from 11.3% to 10.9%.

Despite the decline in the share of the total life assurance market,
Länsförsäkringar is growing in the important occupational pension
insurance market. Measured as new sales, the market share rose from
11.4% to 12.2% and in terms of premium income market share increased
from 8.0% to 8.5%.

Banking
Market share measured as deposits from households was 2.9% at the end of
June 2004, an increase of 0.1 percentage points compared with the year-
earlier period. Market share measured as lending to households rose from
2.2% to 2.4%. Länsförsäkringar's share of the market for housing loans
(first mortgages) was 2.4% at the end of June 2004, an increase of 0.9
percentage points.


Länsförsäkringar's market shares, June 30, 2004:

Market June 30, June 30, Change in
2004 (%) 2003 (%) percentage
points
Non-life insurance, 32.0 30.4 +1.6
premiums paid
Life assurance, 10.9 11.3 -0.4
new sales
Life assurance, premium 8.5 8.7 -0.2
income
Bank, deposits 2.9 2.8 + 0.1
Bank, lending 2.4 2.2 + 0.2
Bank, mortgages (first 2.4 1.5 + 0.9
mortgages)

Note: the interim report for the banking operations and the financial
results for the life assurance operations will be released on August 30.

For further information, contact:

Dag Rosander
Press Officer Länsförsäkringar AB +46 (0)8-588 414 99
  +46 (0)73-964 14 99