Skandia: August Sales SEK 9.7 Billion.Business Editors STOCKHOLM Stockholm (stŏk`hôlm'), city (1995 pop. 692,954), capital of Sweden and of Stockholm co., E Sweden, situated where Lake Mälaren flows into the Baltic Sea. , Sweden--(BUSINESS WIRE)--Sept. 12, 2001 Skandia's August sales are at SEK SEK In currencies, this is the abbreviation for the Swedish Krona. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 9.7 billion (a). New sales of unit linked assurance through August New sales of unit linked assurance decreased by 18 percent compared with the same period a year ago. New sales outside the USA increased by 4 percent, due to a higher portion of unit linked assurance business with annual premium. Sales Through August Skandia's sales through August amounted to SEK 98.5 billion (143.3). Sales are reported exclusive of paid-in premiums to Skandia Liv, totalling SEK 9.8 billion (7.8), and discretionary management inflows for Skandia Asset Management. Of total sales, SEK 66.0 billion (98.4) pertain to pertain to verb relate to, concern, refer to, regard, be part of, belong to, apply to, bear on, befit, be relevant to, be appropriate to, appertain to unit linked assurance, SEK 24.8 billion (39.4) to mutual fund savings products (b), and SEK 5.7 billion (4.1) to direct sales of funds. USA In the USA, sales of variable annuities Variable annuities Investment contracts whose issuer pays a periodic amount linked to the investment performance of an underlying portfolio. through August totalled USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 2.8 billion (6.3), and sales of mutual funds totalled USD 1.6 billion (3.1). Other Markets In the UK, sales totalled GBP GBP In currencies, this is the abbreviation for the British Pound. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 2.0 billion (2.7). In Sweden Sweden, Swed. Sverige, officially Kingdom of Sweden, constitutional monarchy (2005 est. pop. 9,002,000), 173,648 sq mi (449,750 sq km), N Europe, occupying the eastern part of the Scandinavian peninsula. , SkandiaLink's sales amounted to SEK 7.5 billion (7.3). Sales for New Markets totalled SEK 11.1 billion (11.1). Recalculated to average exchange rates, sales from January January: see month. through August were favourably Adv. 1. favourably - showing approval; "he reviewed the play favorably" favorably favourably U.S. favorably adverb 1. affected by currency movements in the amount of SEK 9.4 billion. Sales for the month of September September: see month. will be presented on 10 October October: see month. 2001. 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 2001, recalculated to full-year figures. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. industry practice, new sales are defined as regular premiums recalculated to full-year figures plus 1/10 of single premiums during the period.
Appendix: Sales per month and exchange rates in 2001 and 2000
Sales per month Insurance and Direct Sales Total
(SEK billion) Mutual Funds of Funds
2001
January 12.3 0.7 13.0
February 11.6 0.4 12.0
March 13.3 0.4 13.7
April 12.2 0.9 13.1
May 12.0 1.0 13.0
June 11.5 1.5 13.0
July 10.4 0.6 11.0
August 9.5 0.2 9.7
Total 92.8 5.7 98.5
Sales per month Insurance and Direct Sales Total
(SEK billion) Mutual Funds of Funds
2000
January 16.7 0.7 17.4
February 18.7 0.4 19.1
March 23.9 0.6 24.5
April 18.5 0.5 19.0
May 17.4 0.4 17.8
June 15.3 0.4 15.7
July 14.1 0.5 14.6
August 14.6 0.6 15.2
Subtotal 139.2 4.1 143.3
September 14.0 0.6 14.6
October 15.5 1.5 17.0
November 14.9 1.6 16.5
December 14.0 1.5 15.5
Total 197.6 9.3 206.9
Exchange 2001 2001 2001 2000
rates 30 Aug. 31 July 30 June 31 Dec.
SEK
EUR Closing 9.49 9.30 9.22 8.86
rate
EUR Average 9.16 9.11 9.08 8.45
rate
GBP Closing 15.16 15.15 15.31 14.22
rate
GBP Average 14.81 14.76 14.69 13.86
rate
USD Closing 10.45 10.63 10.89 9.54
rate
USD Average 10.33 10.31 10.26 9.17
rate
JPY Closing 0.088 0.085 0.087 0.083
rate
JPY Average 0.085 0.085 0.085 0.085
rate
Exchange 2000 2000 2000
rates 30 Aug. 31 July 30 June
SEK
EUR Closing 8.43 8.48 8.41
rate
EUR Average 8.39 8.39 8.39
rate
GBP Closing 13.73 13.77 13.38
rate
GBP Average 13.69 13.67 13.70
rate
USD Closing 9.44 9.18 8.81
rate
USD Average 8.87 8.76 8.73
rate
JPY Closing 0.089 0.084 0.083
rate
JPY Average 0.082 0.082 0.082
rate
(a) All comparison figures pertain to the corresponding period a
year earlier, unless otherwise indicated.
(b) Includes SEK 0.9 billion (0.5) in discretionary management in
Spain.
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