Modern Insurances Life's long-term venture in building a platform as the challenger to the established unit-link insurance companies continues to gain success. The company is now one of Sweden's largest companies as to new sales of unit-link insurance.
Modern Insurances Life's market share measured in sales value of the new sales of unit-link insurance rose remarkably and amounted to 16.7% during the third quarter 2007 compared to 6.3% the same period previous year, corresponding to the second largest sales value in Sweden.
Modern Insurances Life's market share of the new sales of unit-link insurance policies, measured on rolling 12-month basis, increased to 13.5% compared to 4.5% for the corresponding period previous year.
"It is rewarding to see that our long-term venture in offering a combination of highly qualitative funds, competitive prices and personal advice via insurance brokers is resulting most successfully", says Mikael Claesson, vice president of Modern Insurances Life.
"At the beginning of 2007 we were selected as supplier of unit-linked insurances for the new ITP-plan and shortly before summer Wassum Insurance Rating selected our ITP-solutions as the best alternative within unit-linked insurance. The sales success we now see is further proof that our strong offer is appreciated by the customers", concludes Mikael Claesson.
For further information, please visit www.invik.se or contact:
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Anders Fällman, President and CEO |
+46 (0)8 562 000 20 |
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Mattias Björk, CFO |
+46 (0)8 562 000 58 |
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Invik, is a finance group with a broad product profile focusing on insurance, banking and fund management. Invik is active in a number of carefully selected segments in which the Group can create high growth and build long-term, successful companies, while consistently focusing on profitability. Group companies are distinguished by their constant efforts to seek new avenues for growth in profitable niches in the financial sector.
Invik is made up of five major financial operations: Modern Insurances Non-life, with its direct insurance operations focusing on individuals and small companies; Modern Insurances Life, which offers life, pension and endowment insurances; Assuransinvest manages the remaining run-off portfolio; Banque Invik, a private bank based in Luxembourg with operations in asset management, card operations and corporate services and Invik Funds, which pursues fund operations in Aktie-Ansvar and Modern Funds.