STOCKHOLM, Sweden, Feb. 16, 2004 (PRIMEZONE) -- Skandia: Sales in December
Combined sales (excluding Skandia Liv) decreased by 3% compared with the same month a year ago, to SEK 951 million (982). Compared with November 2003, sales increased by 6%. The sales trend follows the same pattern as the preceding year, with a gradual rise in sales since August.
Unit linked assurance
Sales of unit linked assurance have also increased successively since August. Compared with November 2003, sales increased by 12%, to SEK 726 million. However, compared with December 2002, sales were down 3%.
New sales of unit linked assurance decreased by 9% compared with November 2003. Compared with December 2002, new sales were down 17%.
Sales through December
Sales decreased by 2%, to SEK 12,076 million (12,351). Of total sales, unit linked assurance accounted for SEK 8,567 million (9,333), mutual fund savings products for SEK 344 million (224), and direct sales of funds for SEK 2,681 million (2,341).
New sales of unit linked assurance decreased by 10%, which is unchanged compared with the period January-September 2003.
Skandia Liv
Sales for Skandia Liv in December amounted to SEK 1,614 million (1,744). Accumulated sales for the period January-December decreased by 7%, to SEK 12,865 million (13,763).
Market shares
Skandia's market share for new business in life and unit linked assurance fell to 24.4% in 2003, compared with 29.3% at year-end 2002. Skandia is the market leader in life and unit linked assurance, with a market share that is roughly 50% higher than its closest competitor. SkandiaLink's market share for unit linked assurance was 25.4% (32.6%), and Skandia Liv's market share for traditional life business was 23.4% (26.3%).
All comparison figures pertain to the corresponding period a year earlier, unless otherwise indicated.
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