Länsförsäkringar Alliance: Annual Review in summary 2021

2021 in brief Figures in parentheses pertain to the full-year 2020.

  • Operating profit for the Länsförsäkringar Alliance’s non-life insurance operations increased to SEK 19,734 M (7,252), with investment income of SEK 19,306 M (6,950). Bonuses and discounts to customers amounted to SEK 2,571 M (1,832).
  • The technical result for the Länsförsäkringar Alliance’s non-life insurance operations increased to SEK 4,126 M (2,873). Premiums earned after ceded reinsurance rose 6% to SEK 31,193 M (29,397). The combined ratio amounted to 91.5% (92.9).
  • The Länsförsäkringar AB Group’s operating profit increased to SEK 3,806 M (2,726). The return on equity amounted to 9% (8). Dividend to owners amounted to SEK 1,000 M (0).
  • The Länsförsäkringar AB Group’s non-life insurance operations posted an operating profit of SEK 798 M (516). Premiums earned after ceded reinsurance rose 13% to SEK 7,662 M (6,781). The combined ratio was 91.2 (95.8).
  • The Länsförsäkringar Bank Group’s operating profit increased to SEK 2,296 M (1,844). Net interest income fell 2% to SEK 4,741 M (4,845). Return on equity strengthened to 9.8% (8.5).
  • Länsförsäkringar Fondliv’s operating profit amounted to SEK 625 M (702). Premium income rose 102% to SEK 24,682 M (12,228). Commission and fee income increased to SEK 2,201 M (1,809).
  • Länsförsäkringar Liv’s profit increased to SEK 11,691 M (1,586).


- Länsförsäkringar’s customers are the driving force of everything we do. We have been laying the foundations for our continued digitization for several years, and therefore it is now gratifying to state that we are ready to shift up a gear – we want to be able to offer our customers the best digital experiences in the market to simplify their everyday lives and contribute to a secure future, says Malin Rylander Leijon, President and CEO of Länsförsäkringar AB, The Länsförsäkringar Alliance’s jointly owned company.


- I am proud of everything we have accomplished together during 2021 despite still being in the midst of a pandemic. We worked on making Länsförsäkringar's operations more efficient through Länsförsäkringar AB's efficiency programme to ensure a long-term, sustainable cost level, a merger of Länsförsäkringar Sak and Länsförsäkringar AB for a streamlined legal structure and a Lean Agile work method for more efficient and innovative development activities. We started restructuring Länsförsäkringar AB’s office in Stockholm to adapt to activity-based working. We adopted a joint market plan for the entire Länsförsäkringar Alliance that governs all joint development. We prepared targets for Länsförsäkringar’s future IT architecture and continued to invest in higher IT security and stability. Our development activities in 2021 meant, for example, that Länsförsäkringar’s customers could start paying via Apple Pay, sign agreements digitally and change funds much quicker, continues Malin Rylander Leijon.  


- The Länsförsäkringar Alliance reported record-strong operating profit of SEK 21.3 billion. Operating profit for the non-life insurance operations amounted to SEK 19.7 billion, benefiting from very high investment income and a strong technical result with premium growth of 6% and a combined ratio of 91.5%. Based on 2021 earnings the regional insurance companies will pay back at least SEK 2.6 billion in bonuses and discounts to the customers. Länsförsäkringar AB Group’s also reported strong operating profit of SEK 3.8 billion. The nonlife insurance operations brought operating profit of SEK 0.8 billion with strong premium growth of 13%, especially from Agria, and a combined ratio of 91.2%. The banking operations reported strong operating profit of SEK 2.3 billion, where business volumes increased 17%. Operating profit for the unit-linked insurance operations contributed SEK 0.6 billion, with managed assets of SEK 225 billion and continued strong growth – premium income increased 102%, says Malin Rylander Leijon.


Fredrik Bergström left his position as CEO of Länsförsäkringar AB on 14 February. Länsförsäkringar AB's Board of Directors has decided to appoint Malin Rylander Leijon as acting CEO of Länsförsäkringar AB and she will take up the position today, on 15 February. Malin Rylander Leijon has been employed at Länsförsäkringar AB since 2001, most recently in the role of CFO, and has been part of Länsförsäkringar AB's management team since 2010.


Read more

Länsförsäkringar Alliance Annual Review in summary 2021



For further information, please contact:

Malin Rylander Leijon, President and CEO Länsförsäkringar AB

malin.rylander-leijon@lansforsakringar.se, +46 (0)8-588 408 64, +46 (0)73-964 08 64


Anna Glennmar, Investor Relations Länsförsäkringar AB

anna.glennmar@lansforsakringar.se, +46 (0)8-588 417 42, +46 (0)72-141 44 08


Lena Hedlund, Head of Communications Länsförsäkringar AB

lena.hedlund@lansforsakringar.se, +46 (0)8-588 403 55, +46 (0)76-496 45 57

The Länsförsäkringar Alliance is comprised of 23 local and customer-owned regional insurance companies and the jointly owned Länsförsäkringar AB. Customers are provided with a complete offering of banking and life and non-life insurance services through their local, regional insurance companies. We offer animal and crop insurance through Agria Djurförsäkring, total solutions for reliable mortgage transactions through Länsförsäkringar Fastighetsförmedling, and financing services such as leasing, instalment payments, and loans through Wasa Kredit.


Documents & links

See all press releases