Skandia gains top ranking on Forbes Global's A-List
Skandia gains top ranking on Forbes Global's A-List Skandia has been named as one of 28 industry group winners in Forbes Global's list of the world's 400 best companies (the A-List). Skandia was also singled out from the list of financial services winners in a special profile. One other Swedish company was named as an industry group winner: Skanska (construction). Forbes Global screened 1,200 companies with revenues and/or a market capitalization in excess of USD 5 billion. The magazine then tested its long-term quality assessment by talking to analysts, fund managers and company executives In its January 8th issue, Forbes Global writes that Skandia is a pioneer in variable annuities and that it has increased its revenues nearly six times the level in 1995. The magazine also writes that although Skandia has been hit hard by the Nasdaq's slump, CEO Lars-Eric Petersson has been quietly shifting some of the company's focus to such markets as Germany and Japan, and that Skandia is growing fast in the UK and Sweden. "Petersson may have hit a rough patch in the US, but this Swede is far from finished," the magazine writes. In addition, Forbes Global has also named Skandia as one of the eight old economy companies that is making the most out of the Internet and building bridges to the new economy. In this context, Skandia received special praise for its success in using the Web to reach and educate its distributors and independent financial advisers. "Skandia even helps advisers, many of whom work for themselves, to meet regulatory requirements for continuing education," writes Forbes Global. The other seven companies on Forbes Global's list of "eight big companies who are using the Web wisely" are: Sony (consumer electronics), Safeway (grocery chain), UPS (parcel delivery service), GE (conglomerate), Aventis (health care), Pearson (media & publishing), and Finnish/Swedish Stora Enso (forestry & paper products). For further information, please contact: Birgitta Hammarström, press manager, tel. +46-8-788 27 55, or +46-70-378 27 55 ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2000/12/28/20001228BIT00100/bit0001.doc http://www.bit.se/bitonline/2000/12/28/20001228BIT00100/bit0002.pdf