STOCKHOLM, Sweden, May 14, 2002 (PRIMEZONE) -- Skandia: April sales SEK 11.9 billion (1).
Sales in April
Sales amounted to SEK 11.9 billion (12.9). Sales in March 2002 totalled SEK 10.7 billion.
New sales of unit linked assurance through April New sales of unit linked assurance decreased by 17% through April compared with the same period in 2001.
Sales through April
Sales amounted to SEK 42.9 billion (50.8). Sales are reported exclusive of paid-in premiums to Skandia Liv, totalling SEK 4.7 billion (5.3). Of total sales, SEK 30.6 billion (34.1) pertains to unit linked assurance, SEK 10.6 billion (14.7) to mutual fund savings products, and SEK 1.1 billion (1.4) to direct sales of funds.
In the U.S.A, sales of variable annuities through April amounted to SEK 12.0 billion (14.3), and sales of mutual funds totalled SEK 4.6 billion (9.5). Sales in the U.K. totalled SEK 14.4 billion (15.9). In Sweden, SkandiaLink's sales amounted to SEK 3.9 billion (4.2). Sales in markets outside the U.S.A, the U.K. and Sweden amounted to SEK 6.6 billion (5.3).
Exchange rate effects
Currency movements did not have any impact on sales during the first quarter of 2002, compared with the average exchange rates that applied for the full-year 2001.
Sales figures for the month of May will be released on 12 June 2002.
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 2002, 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 per month 2002 2001
January 10.6 12.6
February 9.7 11.7
March 10.7 13.6
April 11.9 12.9
Subtotal 42.9 50.8
May 12.4
June 12.4
July 10.6
August 9.6
September 8.3
October 9.5
November 9.4
December 10.8
Total 133.8
Comparison figures for 2001 have been recalculated to take into accountthe sale of parts of the mutual fund activities in Skandia AssetManagement to Den norske Bank.
U.K. pertains to businesses domiciled in the U.K. and thus also includes Royal Skandia, the branch offices in Finland and Norway, and sales of Critical Illness insurance in Germany.
Exchan 2002 2002 2001 2001 2001
ge 30 31 31 30 31
rates Apri Mar. Dec. Apri Mar.
l l
SEK
EUR Closing 9.26 9.04 9.33 9.09 9.15
rate
EUR Average 9.17 9.14 9.29 9.02 9.00
rate
GBP Closing 14.97 14.75 15.32 14.63 14.82
rate
GBP Average 14.98 14.98 15.01 14.32 14.22
rate
USD Closing 10.28 10.36 10.58 10.20 10.39
rate
USD Average 10.46 10.51 10.43 9.85 9.74
rate
JPY Closing 0.080 0.078 0.081 0.082 0.083
rate
JPY Average 0.079 0.079 0.086 0.082 0.083
rate
(1) All comparison figures pertain to the corresponding period a year
earlier, unless otherwise indicated.
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