The Länsförsäkringar Alliance can summarise very strong earnings for 2017. Operating profit for the non-life insurance operations increased to SEK 7.2 billion, with strong investment income of SEK 7.0 billion. The technical result also strengthened, with growth in premiums of 6% and a combined ratio of 92%. Based on these healthy earnings, the regional insurance companies will pay back at least SEK 1.4 billion in bonuses to customers.
"Once again, we report strong earnings and can summarise 2017 as the best year in the bank’s history. Net interest income trended favourably during the year and the credit quality of the loan portfolio remains high. Business volumes reported healthy growth and market the position improved in all segments." Says Anders Borgcrantz, President of Länsförsäkringar Bank.
"Länsförsäkringar Hypotek performed very well in 2017 and operating profit continued to report a positive trend, driven by strong underlying net interest income. Lending is growing at a stable rate, while credit quality remains highs and loan losses very low. We can see that the number of customers is continuing to grow and we are successively capturing market shares, which is largely due to our high customer satisfaction and our strong local presence." Says Martin Rydin, President of Länsförsäkringar Hypotek.
The Länsförsäkringar Alliance is continuing to report very strong earnings. Operating profit for the non-life insurance operations increased to SEK 6.2 billion, with continued solid growth in premiums of almost 6% and a combined ratio of 94%.