Skandia
| Skandia Life Insurance AG
|
|
|---|---|
 |
|
| legal form | Aktiengesellschaft , part of the Viridium Group |
| founding | 1991 |
| Seat |
Berlin , Germany
|
| management |
|
| Number of employees | 80 (December 31, 2017) |
| Branch | Insurance financial services |
| Website | www.ska-lv.de |
Skandia (" Försäkringsaktiebolaget Skandia ") is an international financial services provider and one of the world's largest providers of unit-linked investment, insurance and pension products. The company was founded in Stockholm , Sweden in 1855 and has subsidiaries in over 20 countries in Europe, Latin America, Asia and Australia. Skandia was taken over in 2006 by the Old Mutual insurance group, which is active in the areas of long-term provision, insurance and investment.
In Germany, Skandia, more precisely “Skandia Lebensversicherung AG”, has been active in the market for unit-linked pension products since 1991 and employed around 80 people at the end of 2017. The company is based in Berlin, claims to have looked after over 225,000 customers at the end of 2017 and manages assets of around 4.7 billion euros. Since 2014, Skandia in Germany has been part of Viridium , which specializes in external portfolio management in the life insurance sector.
history
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Skandia was founded in Stockholm in 1855 as a life and fire insurance company. In the following years subsidiaries and branches were established in Christiania (today: Oslo), Copenhagen, Hamburg, Rotterdam and Saint Petersburg. At the end of the 19th century, the product range was expanded to include accident and disability policies. The Skandia share was listed on the Stockholm Stock Exchange on February 4, 1863. In 1900, the first non-British insurer to set up a branch in the United States. In 1964 five companies, originally composed of 53 insurance companies, merged to form the "Skandia Group". Due to a crisis on the Swedish financial market, Skandia said goodbye to its property, casualty and reinsurance divisions in the early 1990s in favor of medium and long-term investment products in the private and business sector.
Since February 2006, the financial group has been part of the British-South African Old Mutual group, which was founded in 1845 and secured over 98.2 percent of Skandia's shares for 6.8 billion US dollars (as of March 31, 2006). Old Mutual employs 55,000 people worldwide (as of June 2011) and is one of the ten largest European life insurers. The group serves over 15 million customers in Europe, North and South America, Africa and Asia. In fiscal 2010, the group achieved adjusted operating profit before tax of £ 1.5 billion (EUR 1.7 billion) (on an IFRS basis) and managed funds of £ 309 billion (EUR 350 billion) in its core business. The CEO of the Old Mutual Group is Julian Roberts .
In 2009, the previously independent Skandia companies in Germany, Austria, Switzerland and Poland were merged to form Skandia Retail Europe in order to create a high-performance provider of financial solutions in the Central European private customer segment. In 2010, Skandia Retail Europe increased profits by 140% from 25 million euros in 2009 to 60 million euros in 2010 and the managed investment volume by 23% from 4.7 billion euros in 2009 to 5.8 billion euros in 2010. The CEO of Skandia Retail Europe has been the Swede Jonas Jonsson since April 2009.
On March 21, 2012 the Skandia business part in Sweden, Norway and Denmark was sold to Skandia Liv. All other Skandia business units and customers outside these countries were not affected by this transaction and continued to be looked after by Old Mutual under the Skandia brand.
Since October 2012 Skandia has stopped the new customer business in Germany and Austria. The existing contracts (450,000 as of 2012) with existing customers will continue to be administered. In October 2014, the Skandia businesses in Germany and Austria were sold to Viridium . Old Mutual is thus continuing the consolidation course on its core business. The shops will continue to operate under the Skandia brand. On October 5, 2016, the Heidelberger Leben Group changed its name to the Viridium Group.
Reviews
In November 2003, the Swedish management team led by Lars-Eric Petersson made headlines. The media accused her of having changed bonus payments inappropriately and having approved company apartments. An internal commission investigated the allegations. As a result, the group forced the entire Swedish board of directors to resign and sued parts of the management for damages. The German Skandia was not affected by the allegations. Both Lars-Eric Petersson and former CFO Ulf Spång were later acquitted on all counts.
In Stockholm in May 2006 Petersson was found guilty of serious embezzlement and sentenced to two years in prison. The court found it proven that Petersson had acted for his own benefit and without the approval of the board of directors. The resulting damage was put at 156 million crowns (16.8 million euros). Lars-Eric Petersson was also acquitted of these allegations in the second instance. Again, the German Skandia was not affected by the allegations.
Web links
Individual evidence
- ↑ Skandia homepage
- ↑ Old Mutual Homepage ( Memento of the original from May 6, 2011 in the Internet Archive ) Info: The archive link was automatically inserted and not yet checked. Please check the original and archive link according to the instructions and then remove this notice. (PDF; 2.7 MB)
- ↑ Skandia Homepage ( Memento of the original from October 8, 2012 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice.
- ↑ Old Mutual Homepage ( Memento of the original from July 23, 2018 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice.
- ↑ http://www.oldmutual.com/skandia/
- ↑ http://www.handelsblatt.com/unternehmen/banken-versicherungen/lebensversicherer-skandia-liv-kauf-eigenen-mutterkonzern/5963158.html
- ↑ Archived copy ( Memento of the original from May 28, 2015 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice.
- ↑ Archived copy ( Memento of the original from March 15, 2015 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice.
- ↑ ISA GmbH: The Heidelberger Leben Group is now called the Viridium Group. Retrieved September 19, 2018 .
- ^ Radio Sweden
- ^ Radio Sweden
