Overall reputation of the Insurance sector declines in Sweden – Länsförsäkringar has the strongest reputation
The Nordic Financial Sector Reputation&Trust 2025 study reveals that the overall reputation of the Swedish insurance industry has weakened. In the study conducted by Reputation and Trust Analytics, Länsförsäkringar achieves the highest score and improves its performance the most.
The overall reputation of the insurance sector in Sweden, which includes companies in non-life insurance as well as life and pension insurance, declines from the 2024 score of 3.22 to 3.12 on a five-point scale of the Reputation&Trust research model.
The downturn is primarily driven by weaker perceptions in the research model’s dimensions of Innovation, Workplace, and Products & Services.
As reputation declines, stakeholder support follows suit – most clearly reflected in a reduced willingness to seek employment in the industry.
“A weak reputation leads to distrust, which is particularly problematic in this industry since customers must be able to rely on their insurance provider when it truly matters. Reputation is therefore a critical asset for organizations in this sector”, says Alexander Widén, Senior Advisor at Reputation and Trust Analytics.
Länsförsäkringar new number one – ICA Försäkring also strengthens its position
In the study, only two companies’ reputations are at a good level. On the Reputation&Trust scale, a company’s reputation is considered to be at a good level if it is 3.50 or higher.
Länsförsäkringar achieves the highest reputation score and is also the company with the greatest improvement, from 3.53 to 3.69, primarily driven by strengthened perceptions of the Leadership dimension.
ICA Försäkring also posts a clear increase, rising from 3.42 to 3.54, with improved perceptions in the Workplace dimension. In third place is KPA, which increases its reputation score from 3.36 to 3.47, mainly driven by stronger perceptions of the value of its offering.
“Companies that improve their reputation clearly relative to competitors benefit from stronger stakeholder support and competitiveness. It is not only the absolute level of reputation that matters, but also the direction and development over time”, says Widén.
“Building trust requires active and long-term effort. Trust must be earned, and public perception is often slow to change. That is why it is particularly interesting when we observe significant movements in our data”, Widén continues.
TABLE: The Financial Sector Reputation&Trust study 2025. The reputation scores of the insurance companies studied in Sweden.
Criticism facing Folksam dropped from the top position
Alecta remains the sector’s lowest-rated company. However, Alecta increases its reputation score from 3.04 to 3.16 and is hence one of the study’s strongest performers: ICA Försäkring makes a similar rise, 0.12 points, and Länsförsäkringar improved its performance by 0.16 points. This development indicates improved conditions for strengthened stakeholder support and performance going forward.
On the other end of the scale, Folksam, which topped the 2024 study, declines by 0.19 points, which is the sharpest drop in this year’s survey – primarily driven by decreases in the Dialogue and Governance dimensions.
“Folksam has faced regulatory criticism regarding its marketing practices and has been involved in public debate concerning investment decisions. Such events directly affect perceptions of transparency and internal governance”, states Widén.
“A weakened reputation leads to reduced stakeholder support, which in turn may impair the company’s ability to maintain market share”, Widén says.
How we conducted the research
The goal of the Financial Sector Reputation&Trust 2025 research was to examine the reputation of companies operating in the Nordic countries and the general reputation of the sector among citizens. Data collection was carried out through an electronic survey in Finland, Sweden, Norway, and Denmark from 21. November to 31. December 2025.
Organizations were evaluated using Reputation and Trust Analytics’ Reputation&Trust research model, where an organization’s reputation score is formed as an average of eight different areas. The areas are corporate governance, finance, management, innovation, interaction, products & services, workplace, and responsibility. The study used a five-point rating scale (1–5).
A total of 12,305 people from Finland, Sweden, Norway, and Denmark participated in the study. The target group in each country consisted of citizens aged 15–65 nationwide (in Finland, excluding Åland). The sample was weighted to represent each country’s population by gender, age, and region of residence.
For more information:
Alexander Widén, Reputation and Trust Analytics, Senior Advisor,
+46 (0) 70 471 23 32, alexander.widen@reptrust.com
