Länsförsäkringar Alliance: Interim Review January-June 2025

January-June 2025 in brief Figures in parentheses pertain to the same period in 2024.

• Profit before tax for the Länsförsäkringar Alliance’s non-life insurance operations declined to SEK 31 M (7,492), with negative investment income of SEK -56 M (8,064).
• The technical result for the Länsförsäkringar Alliance’s non-life insurance operations increased to SEK 1,401 M (229). Premiums earned after ceded reinsurance increased 7% to SEK 18,781 M (17,579). The combined ratio fell to 96.6% (103.6).
• The Länsförsäkringar AB Group’s profit before tax amounted to SEK 2,455 M (2,649). Return on equity was 7% (8).
• The Länsförsäkringar AB Group’s non-life insurance operations reported profit before tax of SEK 274 M (339). Premiums earned after ceded reinsurance increased 7% to SEK 5,011 M (4,700). The combined ratio amounted to 94.4% (96.3).
• The Länsförsäkringar Bank Group’s profit before tax amounted to SEK 1,171 M (1,270). Net interest income declined 12% to SEK 2,955 M (3,353). Return on equity was 8.1% (9.2).
• Länsförsäkringar Fondliv’s profit before tax increased to SEK 1,230 M (1,174). Premium income amounted to SEK 15,345 M (15,368). Commission and fee income amounted to SEK 1,095 M (1,100).
• Länsförsäkringar Liv’s profit declined to SEK -562 M (4,614).

 

– The first half of 2025 was dominated by escalating geopolitical turmoil and greater uncertainty about US trade policy, which resulted in considerable fluctuations in the financial markets. Companies and households are both affected by this uncertainty. Accordingly, Länsförsäkringar must continue to offer attractive products and services that create security for customers, says Björn Dalemo, President and CEO of Länsförsäkringar AB, the company jointly owned by the regional insurance companies.

 

– Länsförsäkringar’s common strategies, targets and business plans remain unchanged despite the changes of two Presidents in the second quarter. I would like to take this opportunity to thank both Mathias Collén and Sven Eggefalk who have led Länsförsäkringar AB and Länsförsäkringar Bank, respectively, in making progress based on profitable growth and digital transformation to ensure a future-proof business. We are now continuing to maintain a high level of ambition for our development activities. For example, in the spring the successful first migration to our new pension insurance system took place and private advisors got access to our new advice system catering to all types of savings. These are two examples of new efficient systems for providing better and more secure customer offerings, continues Björn Dalemo.

 

– Länsförsäkringar sees many opportunities to use AI to create better services and increase security for customers. Generative AI is currently being used in customer meetings to a limited extent, but we can see that this will be upscaled. We have also expanded our support for generative AI for internal processes during the half-year. For example, we have further developed our internal AI assistant, LF-GPT, with RAG functionality, continues Björn Dalemo.

 

– The foundation of sustainability at Länsförsäkringar is long-term social responsibility and to help future-proof local communities. Länsförsäkringar’s message at the 2025 Almedalen political week was that we need to pick up the pace in both the green transition and climate change adaptation as well as take more action to strengthen resilience in society, so that we can tackle these climate challenges, says Björn Dalemo.

 

– The companies in Länsförsäkringar continue to have strong and stable financial positions. The Länsförsäkringar’s non-life insurance operations reported an improved combined ratio of 96.6% with healthy premium growth of 7%. The banking operations reported continued healthy growth in savings as well as the largest share of market growth in mortgages as of the end of June. Net inflows in the unit-linked insurance operations were impacted by outflows pertaining to volumes in the brokered channel, although premiums paid increased 11%, concludes Björn Dalemo.

 

 

Read more

https://www.lansforsakringar.se/other-languages/english/about-lansforsakringar/financial-reports/lansforsakringar-alliance/

 

 

For further information, please contact:

Björn Dalemo, President and CEO Länsförsäkringar AB

[email protected], +46 (0)8-588 404 55, +46 (0)76-695 41 11

 

Anna Glennmar, Head of Investor Relations Länsförsäkringar AB

[email protected], +46 (0)8-588 417 42, +46 (0)72-141 44 08

 

Lena Hedlund, Head of Strategy and Communication Länsförsäkringar AB

[email protected], +46 (0)8-588 403 55, +46 (0)76-496 45 57


 

The Länsförsäkringar Alliance is comprised of 23 local and customer-owned regional insurance companies and the jointly owned Länsförsäkringar AB. Customers are provided with a complete offering of banking and life and non-life insurance services through their local, regional insurance companies. We offer animal and crop insurance through Agria Djurförsäkring, total solutions for reliable mortgage transactions through LF Fastighetsförmedling, and financing services such as leasing, instalment payments, and loans through LF Finans.