Länsförsäkringar Hypotek

About Länsförsäkringar Hypotek

One of Sweden’s largest mortgage institutions

Länsförsäkringar Hypotek is one of Sweden's largest mortgage institutions. The strategy is based on the Länsförsäkringar Alliance's large customer base, a strong brand and local presence through the customer-owned regional insurance companies.

Mortgages are primarily offered to the slightly more than 3.8 million customers of the Länsförsäkringar Alliance. Customer contact takes place during personal meetings at 128 of the regional insurance companies' branches throughout Sweden and via digital services and telephone.

The aim is, based on low risk, to continue to have growth in volumes and profitability, have the most satisfied customers and increase the share of customers who have both banking and insurance with Länsförsäkringar.


Länsförsäkringar Hypotek AB (publ)
Street address: Tegeluddsvägen 11-13
Postal address: SE-106 50 Stockholm
Telephone: +46 8 588 400 00

Anders Borgcrantz
President, Länsförsäkringar Hypotek AB
+46 8 588 412 51
+46 73 96 412 51

Martin Rydin
CFO, Länsförsäkringar Hypotek AB
+46 8 588 412 79
+46 73 964 12 79

Stefan Karkamanis
Investor Relations Länsförsäkringar Bank AB
+46 8 588 402 90
+46 72-310 00 80

Financial Information

Interim Report January-March 2018

The period in brief, Group

  • Operating profit increased 37% to SEK 236.4 M (172.2) and the return on equity amounted to 6.9% (6.6).
  • Net interest income increased 19% to SEK 585.4 M (490.6).
  • Credit losses amounted to SEK –0.3 M (–0.7), net, corresponding to a credit loss level of –0.00% (–0.00).
  • Lending increased 17% to SEK 203.9 billion (174.2).
  • The Common Equity Tier 1 capital ratio amounted to 54.8% (56.3*) on 31 March 2018.
  • The number of customers rose 10% to 260,000 (236,000).
  • According to the 2017 Swedish Quality Index customer satisfaction survey, Länsförsäkringar is the single player on the market with the most satisfied retail mortgage customers.

Figures in parentheses pertain to the same period in 2017.
* Refers to 31 December 2017.

Financial calendar 2018
Date Report
February 9 Year-end report 2017
March 13 Annual report 2017
April 25 Interim report, January-March 2018
July 19 Interim report, January-June 2018
October 25 Interim report, January-September 2018

Five Year Financial Summary

Financial Reports Archive

Current Rating – Covered Bonds

Long Term Credit Rating

  • Standard & Poor's: AAA/Stable
  • Moody's: Aaa

Historical Ratings

2007 May Länsförsäkringar Hypotek's covered bonds graded Aaa from Moody's.

2007 June Länsförsäkringar Hypotek's covered bonds graded AAA long-term and A-1 + short-term from Standard & Poor's.


In nominal values and excluding repurchase agreements, as of March 31, 2018.

Funding programmes
  Limit Nom Outstanding Nom Remaining average term
Benchmark Unlimited SEK 113.4 billion 3.5 years
Medium Term Covered Note SEK 30 billion SEK 7.2 billion 5.2 years
Euro Medium Term Covered Note EUR 5 billion SEK 34.2 billion 4.5 years
Total   SEK 154.8 billion  

Risks and Capital Adequacy

Länsförsäkringar Hypotek applies the Internal Ratings Based (IRB) approach. The Foundation IRB Approach is applied to household risk exposure and for counterparty exposures to corporates and the agricultural sector up to SEK 5 M.

The Foundation IRB Approach is applied for counterparty exposures to corporates and the agricultural sector above SEK 5 M. The Standardised Approach is applied to other exposures.

As of March 31, 2018

  • Core Tier 1 and Tier 1 capital amounted to SEK 10,637 M
  • Core Tier 1 and Tier 1 ratio was 54.8%
  • Capital base amounted to SEK 11,298 M
  • The total capital ratio 58.2%

Cover Pool

Collateral comprises only private homes, including single-family homes, tenant-owned apartments and, to a marginal extent vacation homes. Lending only takes place in Sweden and the geographic distribution in Sweden is well-allocated. All lending is in SEK and all foreign currency is swapped to SEK.

Länsförsäkringar Hypotek gives information in accordance with the ECBC "The Covered Bond Label", a common standard for increased transparency in the European covered bond market.

View the full Cover Pool

Read more about The Covered Bond Label

Corporate Governance

Board of Directors

  • Sven Eggefalk Chairman, born 1969. Board member since 2018. 
  • Gert Andersson born 1959, Head of Product & Process. Board member since 2014.
  • Christian Bille born 1962, President of Länsförsäkringar Halland and board member since 2010. Other Board appointments: Board member of Länsförsäkringar Bank AB and Länsförsäkringar Halland.
  • Bengt Clemedtson born 1964, Head of Business at Länsförsäkringar Bank AB and Board member since 2009. Other Board appointments: Chairman of AB Superb Produkt.
  • Göran Zakrisson, born 1953. External, board member since 2017.


  • Anders Borgcrantz born 1961, President
  • Martin Rydin born 1968, CFO

Länsförsäkringar Hypotek Corporate Governance Reports