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 3.9 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 28 23

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

Financial Information

January – December 2019

The year in brief

  • Operating profit increased 13% to SEK 1,229 M (1,084) and the return on equity rose to 8.1% (7.7).
  • Net interest income rose 4% to SEK 2,522 M (2,434).
  • Credit losses amounted to SEK –0.9 M (–1.3), net, corresponding to a credit loss level of –0.00% (–0.00).
  • Lending increased 9% to SEK 240.1 billion (221.1).
  • The Common Equity Tier 1 capital ratio amounted to 18.2% (18.0*) on 31 December 2019.
  • Länsförsäkringar remains one of the players on the market with the most satisfied retail mortgage customers according to the 2019 Swedish Quality Index customer satisfaction survey.

Figures in parentheses pertain to the same period in 2018.
* Pertains to 30 September 2019.

Read the full report from Länsförsäkringar Hypotek

Financial calendar 2020
Date Report

March 12

Annual report 2019

April 28

Interim Q1 2020

July 22 

Interim Q2 2020

October 23

Interim Q3 2020

Five Year Financial Summary (pdf)

Financial Reports Archive


EMTN Prospectuses

EMTN Prospectuses

In nominal values and excluding repurchase agreements, as of December 31, 2019.

Funding programmes
  Limit Nom Outstanding Nom Remaining average term
Benchmark Unlimited SEK 129.2 billion 3.4 years
Medium Term Covered Note SEK 30 billion SEK 13.5 billion 4.5 years
Euro Medium Term Covered Note EUR 5 billion SEK 39.5 billion 3.5 years
Total   SEK 182.3 billion 3.5 years 

EMTN Prospectuses

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.

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 December 31, 2019

  • Core Tier 1 and Tier 1 capital amounted to SEK 12,206 M
  • Core Tier 1 and Tier 1 ratio was 18.2%
  • Capital base amounted to SEK 12,706 M
  • The total capital ratio 19.0%

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