Gert Engman to leave Skandia

Gert Engman, Executive Vice President and head of Nordic division, will leave Skandia with effect on 1 November 2006. During a transitional period, Julian Roberts, Chief Executive of Skandia, will take over responsibility for the Nordic division. The work on finding a successor has begun.

Gert Engman comments:
"During my two years I have together with my management team worked intensively on restoring the market position of Skandia Nordic. In consultation with Julian Roberts, I have come to the conclusion that it is time for a fresh resource to take over who can take the division forward."

Julian Roberts comments:
"Gert took over the Nordic division during a very strained situation, and owing to his valuable work, today we have a stronger position in the market. We are very grateful for his contribution."