Skandia

Skandia is a large independent provider of products for long-term savings and investments. They offer products and services that cater for various financial needs and security. Skandia pioneered the "MultiManager" approach, which has now been adopted by most life insurance providers.

History

Skandia started out as a Swedish insurance company in 1855. Today the brand operates in Europe, Latin America, and Asia. Skandia also operates an internet bank called Skandiabanken in the Nordic region.

In 1979, the company formed a UK subsidiary, Skandia Life.

In 2003 the operations in North America, American Skandia, were acquired by Prudential Financial. The CEO of American Skandia, Wade Dokken partnered with Goldman Sachs and sold the division to Prudential Financial for $1.2 billion.

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 February 3, 2006 Old Mutual completed its acquisition of Skandia, which was subsequently delisted from the Stockholm and London stock exchanges.

Skandia (2003 yacht)

Skandia (rechristened Wild Thing) is a maxi yacht built in 2003. She was designed by Don Jones. She won line hours in the 2003 Sydney to Hobart Yacht Race skippered by Grant Wharington.

References

Nicorette (1996 yacht)

Nicorette (also known as Skandia) is a 24.5 metres (80 ft) Ericsson 80 yacht.

Career

Nicorette won Round Gotland Race and broke the record as the fastest monohull yacht over the Atlantic. She broke the 92-year-old record of Atlantic in 1997.

Nicorette was later renamed Skandia and competed in the Adecco World Championships.

See also

References