Skandia is a Swedish financial services corporation that provides insurance, banking and asset management services.
Between 2006 and 2015, the financial group underwent major changes. From 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 Swedish insurance company in 1855. It would go on to operates in Europe, Latin America, and Asia. Skandia also operated an internet bank called Skandiabanken in the Nordic region.[1]
In 1979, the company formed a UK subsidiary, Skandia Life.
In 2003, the operations in North America, American Skandia, were acquired by Prudential Financial