Moody's assigns higher and improved credit ratings to Länsförsäkringar AB and Länsförsäkringar Sak (non-life)

11/12/2003 7:31 AM EST

Moody's assigns higher and improved credit ratings to
Länsförsäkringar AB and Länsförsäkringar Sak (non-life)

Länsförsäkringar AB has been assigned an A3 rating with a "stable"
outlook by the credit ratings company Moody's. This reflects an
improvement, since Länsförsäkringar AB had formerly been assigned a
"negative" outlook. Moody's has also rated Länsförsäkringar Sak (non-
life) for the first time and has issued the company an A2 rating with a
"stable" outlook.

"The high credit ratings are proof of our financial strength and
favourable financial results, and in particular our increased
efficiency. This also provides us with the scope to achieve further
market growth within the banking and insurance sectors," comments Jonas
Bjerre, Controller at Länsförsäkringar AB.

According to Moody's, Länsförsäkringar AB's new rating derives from the
company's favourable solvency margin and the improved earnings reported
by the entire Länsförsäkringar Alliance. Moody's also notes that
Länsförsäkringar AB has successfully reduced its costs.

According to Moody's, the credit rating for Länsförsäkringar Sak is a
result of the important role of the company in the Länsförsäkringar
Alliance and its financial strength. Länsförsäkringar Sak is reporting
favourable profitability and improvements in key figures generally.

Länsförsäkringar AB is responsible for the strategic development of
Länsförsäkringar Alliance and functions as its development and service
centre. Länsförsäkringar Sak is a subsidiary of Länsförsäkringar AB.
Länsförsäkringar Sak conducts non-life business, development and service
operations on behalf of the 24 regional insurance companies in the
Alliance. Operations focus primarily on the Länsförsäkringar Alliance's
joint reinsurance solutions.

For further information, contact:
Jonas Bjerre, Controller Länsförsäkringar AB +46 (0)8-588 417 32
  +46 (0)73-964 17 32

Mikael Östlund, Vice President Corporate
Communications
Länsförsäkringar +46 (0)8-588 410 94
  +46 (0)70-553 12 82



Current ratings, Länsförsäkringar

Company Standard & Poor's Moody's
Länsförsäkringar AB A-/stable A3/stable
Länsförsäkringar Sak (non-life) A/stable A2/stable
Länsförsäkringar Bank K1/BBB+/stable -
Humlegården A/stable -