November sales SEK 7.4 billion (6.0)
December 09 2003 - 3:24AM
UK Regulatory
November sales SEK 7.4 billion (6.0) 1)
In view of the flood of information during the preceding week and speculation in
connection with this on the business trend, Skandia is releasing information on
sales for the month of November. Skandia does not intend to continue reporting
monthly sales figures in the future.
Sales in November
Sales increased to SEK 7.4 billion (6.0), which is the highest level of monthly
sales during the year. This corresponds to an increase of 24% in Swedish kronor
and 30% in local currency. Sales in October 2003 were SEK 6.9 billion, while the
corresponding figure for September was SEK 6.9 billion. Sales were favourable in
the UK. Sales in Sweden were slightly lower compared with a year ago, but have
successively increased month by month since August of this year.
Unit linked assurance
Sales of unit linked assurance in local currency rose 26% to SEK 5.2 billion
(4.4). New sales of unit linked assurance rose 7%.
Sales through November
Sales amounted to SEK 70.3 billion (69.0), rising 9% in local currency. Of total
sales, unit linked assurance accounted for SEK 50.1 billion (49.5), mutual fund
savings products for SEK 16.3 billion (15.5), and direct sales of funds for SEK
2.5 billion (2.2).
Sales in the UK amounted to SEK 34.0 billion (36.7). In Sweden sales amounted to
SEK 11.1 billion (11.4). Sales in other markets increased to SEK 25.2 billion
(20.9).
For further information, please contact:
Harry Vos, Head of Investor Relations, tel. +46- 8-788 3643
Definitions of sales
Sales
Sales pertain to paid-in premiums and deposits in funds from Skandia's
customers.
New sales
New sales pertain to single and regular premiums from unit linked contracts
entered into in 2003, recalculated to full-year figures. According to industry
practice, new sales are defined as regular premiums recalculated to full-year
figures plus 1/10 of single premiums during the period.
Sales development, November 2003
November sales 2003 Sales, % change in % change in
SEK billion local currency local currency
compared with compared with
November 2002 October 2003
Sales
Unit linked assurance 5.2 26 3
Mutual fund savings 1.8 78 18
products
Other 0.4 -41 125
Sales, group 7.4 30 9
Unit linked assurance
Sweden 0.6 -7 0
UK 3.2 52 11
Other markets 1.4 0 -11
Sales, unit linked 5.2 26 3
assurance
New sales, unit linked
assurance
Sweden not -4 4
reported
UK not 25 0
reported
Other markets not -10 -4
reported
New sales, unit linked not 7 0
assurance reported
Sales development, January-November 2003
Sales, Sales, % change in local % change in local
January - November SEK billion currency, currency,
2003 Jan.-Nov. 2003 Jan.-Sept. 2003
compared with compared with
Jan.-Nov. 2002 Jan.-Sept. 2002
Sales
Unit linked 50.1 8 4
assurance
Mutual fund 16.3 17 9
savings products
Other 3.9 -3 8
Sales, group 70.3 9 6
Unit linked
assurance
Sweden 7.8 -9 -9
UK 28.1 9 3
Other markets 14.2 16 17
Sales, unit linked 50,1 8 4
assurance
New sales, unit
linked assurance
Sweden not reported -10 -10
UK not reported -2 -6
Other markets not reported 15 18
New sales, unit not reported 0 -2
linked assurance
Exchange rates
Exchange rates 2003 2003 2003 2002 2002 2002 2002
30 31 30 31 30 31 30
Nov. Oct. Sept. Dec. Nov. Oct. Sept.
SEK
EUR Closing rate 9.06 9.07 9.01 9.14 9.02 9.07 9.16
EUR Average rate 9.15 9.16 9.17 9.15 9.15 9.16 9.17
GBP Closing rate 13.00 13.24 12.85 14.03 14.11 14.33 14.58
GBP Average rate 13.29 13.32 13.33 14.58 14.63 14.68 14.71
JPY Closing rate 0.069 0.071 0.069 0.073 0.074 0.075 0.076
JPY Average rate 0.070 0.070 0.070 0.078 0.078 0.078 0.079
1) All comparison figures pertain to the corresponding period a year
earlier, unless otherwise indicated.