STOCKHOLM, Sweden, Nov. 13, 2003 (PRIMEZONE) -- Lansforsakringar: As shown in the quarterly statistics for the third quarter of 2003 released by the Association of Swedish Insurance Companies, Lansforsakringar's market share in non-life insurance rose by 1.3 percentage points to 30.3%. The market share in life assurance measured in new sales rose by 1.4 percentage points to 10.8%. Lansforsakringar's banking operations also continue to grow. The market share in deposits increased during the period September 2002 to September 2003 from 2.5% to 2.8%.
Non-life insurance
The total market share for non-life insurance rose from 29.0% to 30.3%. In the private market, Lansforsakringar captured new market shares in all products except private home insurance. Lansforsakringar's market share in commercial and property insurance was 35.5%, corresponding to an increase of 2.3 percentage points.
Life assurance
Market share measured in terms of premium income declined slightly, from 8.9% to 8.8%. Market share in terms of new sales rose during the period from 9.4% to 10.8%. In the occupational pension market, market share rose from 9.8% to 11.2%, measured in new sales.
Banking operations
Total lending rose by 58% to SEK 27.9 billion and deposits by 25% to SEK 17.4 billion. Market share measured in terms of deposits from households was 2.8% in September 2003. Mortgage lending rose by SEK 8.2 billion, corresponding to an increase of 132%. Total volume amounted to SEK 14.4 billion at September 30, 2003. The number of home mortgage customers was 46,000.
Fund operations
At September 30, our customers had a total of SEK 31.7 billion invested in Lansforsakringar's funds, corresponding to a market share of 3.9%. This represents an increased from the year-earlier period of 0.2 percentage points. Lansforsakringar's share of the net flow measured over a rolling 12-month period was 5.2% in September.
Market shares, September 30, 2003:
Market September 30, September 30, Change in percentage
2003 (%) 2002 (%) points
Non-life insurance, 30.3 29.0 + 1.3
premiums paid
Life assurance, 10.8 9.4 + 1.4
new sales
Life assurance, 8.8 8.9 - 0.1
premium income
Funds 3.9 3.7 + 0.2
Bank, deposits 2.8 2.5 + 0.3
For further information, contact:
Mikael Ostlund, Vice President, +46 (0)8-588 410 94 Corporate Communications Lansforsakringar +46 (0)70-553 12 82 mikael.ostlund@lansforsakringar.se
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