From September 6, it will no longer be possible to begin new savings under traditional management with Länsförsäkringar Liv. Existing Länsförsäkringar Liv customers who have traditional-management products can continue to save as before, under the same terms and conditions. In conjunction with this, the intention is to sell the unit-linked insurance company Fondliv, which is currently wholly owned by Länsförsäkringar Liv, to Länsförsäkringar AB. The reason for these changes is to enhance opportunities for Länsförsäkringar Liv’s customers to generate higher returns on their savings.
“Our customers have had access to four different savings forms: traditional management, Insured Pension (Försäkrad Pension), New World (Nya Världen) and unit-linked insurance. We have noted in recent years that an increasing number of customers are choosing unit-linked insurance instead of traditional management, which is entirely in line with how we have developed our offering,” says Jörgen Svensson, President of Länsförsäkringar Liv.
“Länsförsäkringar’s traditional life-assurance products have generated favourable returns over time, but now that market interest rates are at record low levels, we need to adjust our assets to ensure that our guaranteed undertakings will always be met,” says Jörgen Svensson.
Länsförsäkringar Liv also intends to sell the unit-linked insurance company Fondliv to Länsförsäkringar AB.
“The sale of the unit-linked insurance company will give us greater flexibility in our asset management, which will enhance security for our customers and improve the potential of higher returns. The sale will be conducted extremely thoroughly. Valuations will be performed by two independent processes: one carried out by the seller and one by the purchaser. In addition, the Policyholders’ Association has ordered a fairness opinion to be performed,” says Karl-Olof Hammarkvist, Chairman of the Board of Länsförsäkringar Liv.
“Customers who currently save in unit-linked insurance or in the Insured Pension (Försäkrad Pension) and New World (Nya Världen) alternatives will not be affected by the changes and will be able to continue to save as before. Our life-assurance customers can look forward to Länsförsäkringar continuing to develop new and modern savings forms, both with and without guarantee elements,” says Jörgen Svensson.
Read the full press release
For further information, please contact:
Karl-Olof Hammarkvist, Board Chairman, Länsförsäkringar Liv
Tel: +46 8 588 418 50.
Jörgen Svensson, President, Länsförsäkringar Liv
Tel: +46 8 588 418 50.
Tina Kardum Funnemark, PR and Press Manager, Länsförsäkringar Liv
Tel: +46 8 588 418 04.
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.