ABN Amro Asset Management is to manage the Skr115bn (€12.7bn) portfolio of Länsförsäkringar (LF Insurance Group), the Swedish insurer and asset manager.

Under the deal, LF retains the ownership of the assets, belonging to its 600,000 life policyholders and 200,000 mutual fund customers. LF will also continue to have the responsibility for decisions on investment direction and the voting rights for all shares.