Skandia Life Denmark to remain i Skandia group

Skandia Life Denmark to remain in Skandia group Since the past spring the Skandia group has had its Danish subsidiary, Skandia Livsforsikring A/S, for sale. A number of potential buyers have shown their interest, however, after consideration of a combined valuation of the bids, an internal deal has been arranged within the group. Through a transaction, direct ownership of the Danish life company will be transferred to Skandia Life Insurance Company Ltd (Swedish Skandia Life) in Sweden. Swedish Skandia Life recently revised its plans and has decided to broaden its traditional life assurance operations to also include other Nordic countries. Through its ownership of Skandia Livsforsikring A/S, the company will have a good platform for this expansion. Swedish Skandia Life today manages approximately SEK 230 billion in assets, with SEK 12 billion in earned premium in 1999 and a market share in Sweden of 38 per cent. The Skandia group will continue to be represented in Denmark by both Skandia Livforsikring and Skandia Link, which offers unit linked pension plans. For further information, please contact: Gerner Abildtrup, Skandia Denmark tel. +45-36-87 46 08 Søren Schock Petersen, President, Skandia Denmark, tel. +45-36-87 46 50 Magnus Olsson, President, Skandia Life Insurance Company Ltd, tel. +46-8-788 35 37 ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/12/15/19991215BIT00760/bit0001.doc http://www.bit.se/bitonline/1999/12/15/19991215BIT00760/bit0002.pdf