Content deleted Content added
No edit summary |
Funkyuggla (talk | contribs) |
||
| (7 intermediate revisions by 5 users not shown) | |||
Line 1:
{{short description|Swedish financial services company}}
{{Other uses}}
{{Use dmy dates|date=April 2022}}
{{More citations needed|date=April 2008}}
{{Infobox company
| name
| logo
| logo_size
| type
| foundation = {{start date and age
| location_city
| location_country = [[Sweden]]
| area_served
| key_people
| industry
| products
| num_employees
| num_employees_year= 2013
| homepage
}}
'''Skandia''' is a [[Sweden|Swedish]] financial services corporation
Between 2006 and 2015, the financial group underwent major changes. From having been an insurance company with the main emphasis on non-life insurance to a business that is globally focused on savings, to once again becoming a Nordic banking and insurance group with a focus on security and long-term savings. In February 2006, the South African company [[Old Mutual]] took over the majority of shares in the company. In March 2012, Skandia Liv bought Skandia's Nordic operations back from Old Mutual and decided to transform Skandia into a customer-owned, mutual company retaining the Skandia name.
== History ==
'''Skandia''' started out as a [[Sweden|Swedish]] [[insurance]] company in 1855.
In 1979, the company formed a UK subsidiary, Skandia Life.{{Citation needed|date=July 2022}}
In 2003, the operations in [[North America]], American Skandia, were acquired by [[Prudential Financial]]. The CEO of American Skandia, [[Wade Dokken (author)|Wade Dokken]] partnered with [[Goldman Sachs]] and sold the division to Prudential Financial for $1.2 billion.<ref>{{cite web|title=Wade Dokken: Bibliography |url=http://wade-dokken.com/biography/|access-date=25 February 2011}}</ref>
In 2005 South African financial services group [[Old Mutual]] launched a $6.5bn (£3.6bn) bid to acquire majority control of Skandia, which was met with resistance from some of Skandia's shareholders and directors. On 3 February 2006 Old Mutual completed its acquisition of Skandia, which was subsequently delisted from the Stockholm and London stock exchanges.<ref>[http://news.bbc.co.uk/1/hi/business/4652406.stm Old Mutual seals deal for Skandia]</ref>
{{as of |2013}}, Skandia's largest operation, in terms of new business and profit,
In March 2012 Old Mutual sold the Nordic businesses (Sweden, Denmark, Norway) to the Swedish-based Skandia Liv, a partly mutual assurer, in an all-cash deal for £2.1bn.<ref name="nordicsale">[http://www.oldmutual.com/mediacentre/pressReleases/viewPressRelease.jsp?pressItem_id=17618 Completion of sale of Old Mutual's Nordic business]</ref> Skandia UK, Skandia International and the Skandia European businesses outside the Nordic region were rebranded as 'Old Mutual Wealth' in September 2014.<ref name="rebrand">{{cite web|title=Skandia to become Old Mutual Wealth |url=http://www2.skandia.co.uk/About-Skandia/rename/|access-date=1 April 2014}}</ref>
Line 41 ⟶ 45:
Skandia Poland sponsors the Skandia Marathon, a cycling event organised by Langteam in which over 1000 competitors, aged from 4 to 80 years old, take part.<ref name="Sponsorships" />
Skandia International, which specialises in offshore investment, sponsors the Royal Hong Kong Yacht Club and partners the United Arab Emirates Professional Golf Association in Singapore.<ref>{{cite web |url=http://www.sailskandia.co.uk/overseassponsorship/rhkyc.asp |title=
== Rebranding ==
Line 86 ⟶ 90:
== References ==
{{reflist}}
{{Authority control}}
Line 101 ⟶ 102:
[[Category:1855 establishments in Sweden]]
[[Category:Swedish brands]]
[[Category:Companies related to the Engwall family]]
| |||