Länsförsäkringar Hypotek is one of the largest retail mortgage institutions in the Swedish market, with lending totalling SEK 68 billion on December 31, 2009. Lending, which is provided to private individuals and homeowners, can be conducted at the 116 branches of the regional insurance companies throughout Sweden and via the Internet and telephone. Länshem Fastighetsförmedling´s 100 branches throughout Sweden also serve as a part of the retail mortgage offering.
According to the 2009 Swedish Quality Index (SQI), Länsförsäkringar has Sweden’s most satisfied retail mortgage customers for the sixth time and the fifth consecutive year and Sweden’s most satisfied bank customers in the retail market for the fifth time. The number of retail mortgage customers in Länsförsäkringar Hypotek amounted to 134,000 on December 31, 2009.
Most of the banking operations’ borrowing occurs through Länsförsäkringar Hypotek. Borrowing is executed with covered bonds with the highest possible credit rating Aaa from Moody´s and AAA from Standard & Poor´s. Borrowing with covered bonds amounted to SEK 55 billion on December 31, 2009.
The 24 regional and independent Länsförsäkringar insurance companies own Länsförsäkringar AB and Länsförsäkringar AB owns Länsförsäkringar Bank, where Länsförsäkringar Hypotek is a subsidiary.
Legal structure for the Bank Group