STOCKHLOM, Sweden, Aug. 31, 2005 (PRIMEZONE) -- The Swedish Insurance Federation today published the industry's quarterly statistics for the second quarter of 2005. Since these statistics also include information on Skandia's market shares, Skandia is commenting on them here. Skandia published information on its premiums and deposits in Sweden on 9 August.
Market shares Moving twelve-month basis
Skandia's market position in the life assurance market strengthened significantly during the second quarter. As at the end of the second quarter, Skandia is once again the largest player in the Swedish life assurance market with respect to newly written business. Skandia's market share in the life assurance market on a moving twelve-month basis is estimated to be 19.6% as per the end of the second quarter, compared with 19.0% a quarter earlier.
For Skandia Unit Linked Assurance, the market share was 18.1% during the second quarter of 2005, compared with 17.3% a quarter earlier. The corresponding market share for Skandia Liv in traditional life assurance was 21.4%, compared with 21.0% a quarter earlier. Skandia has retained its leading position in the life assurance market with respect to premium income. During the second quarter its market share was 20.3%, compared with 20.0% a quarter earlier.
The fee adjustment made in unit linked assurance in November 2004 has had a tangible effect on new business. Skandia Liv also strengthened its market position during the second quarter. Skandia's positive development is a result of the work that is being carried out to improve the company's way of working and its contacts with distributors. Campaigns were also carried out during the spring to strengthen the brand.
Second quarter alone
Skandia's market share in the life assurance market on a quarter-by-quarter basis was 21.1% for the second quarter of 2005, compared with 19.3% for the second quarter of 2004. In unit linked assurance, Skandia's market share for the second quarter alone was 19.4%, compared with 17.1% during the same period a year ago. The corresponding figures for Skandia Liv were 23.6% and 22.4%, respectively.
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