STOCKHOLM, Sweden, May 14, 2004 (PRIMEZONE) -- As shown in the quarterly statistics for the first quarter of 2004 released by the Association of Swedish Insurance Companies, Lansforsakringar's market share in non-life insurance rose by 1.2 percentage points to 31.4%. The market share in life assurance measured in new sales was 11.6%. Lansforsakringar's banking operations also continue to grow. The market share in deposits increased during the period March 2003 to March 2004 from 2.7% to 3.0%. The market share in housing loans (first mortgages) increased from 1.3% to 2.1%
Banking
The bank operations showed a continued sharp earnings and volume growth. During the most recent 12-month period lending rose 42% and deposits by 11%. The position on the housing mortgage market was strengthened further and mortgage lending rose by 78% during the same period. The number of full-service customers, those with current account, cards, savings and loans, is increasing steadily.
Market share measured in terms of deposits from households was 3.0% at March 31 2004, an increase of 0.3 percentage points compared with the year-earlier period. Market share measured as lending to households rose from 2.1% to 2.4%. Lansforsakringar's market share of housing loans (first mortgages) was 2.1% at the end of March, an increase of 0.8 percentage points.
Funds
At March 31, Lansforsakringar had a market share of 3.9% of the total fund market. This is an increase of 0.1 percentage points compared with the corresponding period in 2003. Measured as net sales, the market share declined from 6.4% to 4.4%.
Non-life insurance
Lansforsakringar further strengthened its position in the Swedish non- life insurance market. As shown in the statistics released by the Association of Swedish Insurance Companies for the first quarter, the market share rose to 31.4%, measured as premiums paid. This is an increase of 1.2 percentage points compared with a year earlier.
Market share in household and homeowners' insurance was unchanged at 32.3%. Market share decreased in motor third-party liability insurance by 0.6 percentage points to 32.4% and market share measured in number of insurances was unchanged at 36.2%. The market share in commercial insurance increased by 1.6 percentage point compared with 2003, from 35.2% to 36.8%.
Life assurance
Lansforsakringar's market share measured in terms of premium income declined slightly, from 9.0% to 8.4%. Market share in terms of new sales rose, however, by 0.8 percentage points to 11.6%.
Lansforsakringar's market shares, March 31, 2004:
Market March 31, March 31, Change in
2004 (%) 2003 (%) percentage
points
Non-life insurance, premiums paid 31.4 30.2 +1.2
Life assurance, new sales 11.6 10.8 +0.8
Life assurance, premium income 8,4 9.0 -0.6
Funds 3.9 3.8 +0.1
Bank, deposits 3.0 2.7 +0.3
Bank, lending 2.4 2.1 +0.3
Bank, mortgages(first mortgages) 2.1 1.3 +0.8
For further information, contact:
Mikael Ostlund +46 (0)70-553 12 82 Vice President Corporate Communications LansforsakringarAB mikael.ostlund@lansforsakringar.se
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