Skandia

The story of Skandia begins in 1855, when it was established by Carl Gustaf von Koch in Stockholm, Sweden. It broke new ground as one of Sweden's first insurance companies, offering both fire and life insurance—the latter being a first for the country. Less than a decade later, in 1863, Skandia was one of the original companies listed on the newly opened Stockholm Stock Exchange. The company maintained a steady course for over a century, expanding its insurance offerings and even venturing into international markets early on. A pivotal shift occurred in the 1990s as financial markets deregulated. Skandia transformed from a traditional insurer into a more focused savings and asset management firm. The next chapter was marked by a major acquisition. In 2005, the South African financial services group Old Mutual launched a successful, albeit initially resisted, bid to acquire the company. By early 2006, the acquisition was complete, and Skandia was delisted from the stock exchange. However, the story came full circle. In 2012, the Swedish mutual life insurance portion of the business, Skandia Liv, purchased Skandia's Nordic operations back from Old Mutual. This move transformed Skandia back into a customer-owned, mutual company in its home region, securing its long-standing presence in the Nordic financial landscape.