Institutional update - Skandia Asset Management dispute to be resolved

Skandia and its life insurance arm Skandia Liv, have begun negotiations to settle the dispute over the sale of Skandia Asset Manageemnt, which was bought by Den Norske bank for Skr 3.2bn in 2002. According to press reports, Skandia claims it is owed more money from the sale of the asset management arm, a deal signed last year by all three Skandia management boards and ratified by the Finansinspektionen. Although both parties have several reports supporting their claims, the two are reported to have stated that they hope to settle the matter soon.

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