STOCKHOLM, Sweden, Jan. 16, 2003 (PRIMEZONE) -- Skandia, Sales per December 2002(1):
Sales in December outside the USA Sales amounted to SEK 6.4 billion (6.4). Exchange rate effects attributable to the strengthening of the Swedish krona were negative in the amount of SEK 0.5 billion. This means that sales in local currency increased by an average of 8%. Sales in November 2002 were SEK 6.0 billion.
Total sales in December
Total sales including the USA amounted to SEK 9.0 billion (10.8). Exchange rate effects on sales were negative in the amount of SEK 1.1 billion. Total sales in November 2002 were SEK 8.9 billion.
New sales of unit linked assurance outside the USA New sales of unit linked assurance for the full-year 2002 decreased by 15% compared with the full-year 2001.
Sales for the full-year 2002
Sales outside the USA increased to SEK 75.4 billion (73.0). Of total sales, SEK 54.0 billion (53.5) pertains to unit linked assurance, SEK 17.0 billion (14.0) to mutual fund savings products, and SEK 2.3 billion (3.8) to direct sales of funds. Total sales including the USA amounted to SEK 119.3 billion (133.8).
In the U.K., sales amounted to SEK 39.1 billion (40.6). Sales in Sweden, through SkandiaLink, amounted to SEK 9.6 billion (10.7). Sales in other markets amounted to SEK 23.9 billion (17.5).
Sales are reported exclusive of paid-in premiums to Skandia Liv, totaling SEK 13.8 billion (15.2).
Compared with the average exchange rates that applied for the full-year 2001, total sales for the full-year 2002 decreased by approximately 5% as a result of exchange rate movements.
Reporting of financial effects
On February 4, 2003 Skandia will be providing information on financial effects and the impact these have had on the operating result for 2003. The financial effects have been caused primarily by changes in the financial markets during the period.
The Year-End Report for 2002 will be released on February 12, 2003.
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.
Total sales per 1999 2000 2001 2002
year, excluding
the USA
SEK billion 49.6 95.1 73.0 75.4
Sales per month 2002 2002 2001 2001
SEK billion Excluding Total Excluding Total
USA USA
January 6.3 10.6 6.4 12.6
February 6.0 9.7 5.7 11.7
March 6.7 10.7 7.8 13.6
April 7.3 11.9 7.0 12.9
May 6.6 11.1 6.3 12.4
June 5.6 8.9 6.7 12.4
July 6.7 10.6 5.7 10.6
August 6.0 9.9 5.2 9.6
September 5.8 8.9 4.9 8.3
October 6.0 9.1 5.2 9.5
November 6.0 8.9 5.7 9.4
December 6.4 9.0 6.4 10.8
Total 75.4 119.3 73.0 133.8
Comparison figures for 2001 have been recalculated to take into account
the sale of parts of the mutual fund activities in Skandia Asset
Management 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.
Exchange rates 2002 2002 2002 2001 2001 2001
31 Dec. 30 Nov. 30 Sept. 31 Dec. 30 Nov. 30 Sept.
SEK
EUR Closing 9.14 9.02 9.16 9.33 9.57 9.72
rate
EUR Average 9.15 9.15 9.17 9.29 9.29 9.22
rate
GBP Closing 14.03 14.11 14.58 15.32 15.24 15.68
rate
GBP Average 14.58 14.63 14.71 15.01 14.99 14.91
rate
USD Closing 8.71 9.07 9.27 10.58 10.68 10.67
rate
USD Average 9.72 9.80 9.94 10.43 10.42 10.37
rate
JPY Closing 0.073 0.074 0.076 0.081 0.087 0.090
rate
JPY Average 0.078 0.078 0.079 0.086 0.086 0.086
rate
(1) All comparison figures pertain to the corresponding period a year
earlier, unless otherwise indicated.
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www.waymaker.net/bitonline/2003/01/16/20030116BIT00130/wkr0001.doc
www.waymaker.net/bitonline/2003/01/16/20030116BIT00130/wkr0002.pdf