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2016-07-20

Länsförsäkringar: Länsförsäkringar AB: Interim report January-June 2016

· The Group's operating profit amounted to SEK 1,115 M (845). The
return on equity amounted to 10% (8).

· Operating profit in the non-life insurance operations amounted to
SEK 318 M (326). Premiums earned after ceded reinsurance amounted to
SEK 2,630 M (2,474).

· Operating profit for the Bank Group totalled SEK 697 M (559). Net
interest income strengthened to SEK 1,615 M (1,411).

· Operating profit for Länsförsäkringar Fondliv amounted to SEK 249
M (266). Premium income amounted to SEK 4,394 M (4,635).

(Figures in parentheses pertain to January-June 2015)

"We can be pleased with the favourable half-year earnings for the
Länsförsäkringar AB Group. Operating profit amounted to SEK 1.1
billion, up 30 % compared with the first six months of 2015. The
strong earnings of the Bank Group were the primary driver behind this
improvement. Growth and the inflow of customers is continuing, and we
secured market growth of 10% in household lending during the period.
In the non-life insurance business, Agria continued to make a strong
contribution to earnings. Earnings improved in the health care
business, which is now approaching a balance. The technical result
weakened slightly, while operating profit was essentially at the same
level as the preceding year due to strong investment income.

Market unease, Brexit and continued low interest rates impacted the
operations in several ways which adversely affected the value growth
of insurance capital for unit-linked insurance.

In May the Swedish Financial Supervisory Authority approved our
partial internal model to calculate capital requirements in the
Länsförsäkringar AB Group and Länsförsäkringar Liv. We are the first
company in Scandinavia to have our model approved - a model that
reflects our business logic and actual risk profile. Gratifying
achievements also include high rankings in reputation and customer
satisfaction surveys. For our digital services we were awarded Mobile
Bank of the Year at Mobilgalan and the Web Service Award for Best
Mobile Site and App" says Sten Dunér, President Länsförsäkringar AB.

Read the full report:
http://www.lansforsakringar.se/om-oss/in-english/financial-reports/lansf...

For further information, please contact:
Sten Dunér, President Länsförsäkringar AB, +46 8-588 411 15, +46
73-964 11 15, sten.duner@lansforsakringar.se

Malin Rylander Leijon, CFO Länsförsäkringar AB, +46 8-588 408 64, +46
73-964 08 64, malin.rylander-leijon@lansforsakringar.se

Fanny Wallér, Director of Communications Länsförsäkringar AB, +46
8-588 414 69, +46 70-692 77 79, fanny.waller@lansforsakringar.se

The Länsförsäkringar Alliance comprises 23 local and customer-owned
regional insurance companies and the jointly owned Länsförsäkringar
AB. Customers are provided with a complete offering of banking and
insurance services through their local, regional insurance companies.
We offer animal and crop insurance through Agria Djurförsäkring and
total solutions for reliable mortgage transactions are offered
through Länsförsäkringar Fastighetsförmedling.

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http://news.cision.com/lansforsakringar/r/lansforsakringar-ab--interim-r...
http://mb.cision.com/Main/152/2048892/542191.pdf

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