Skandia reports ‘stable’ performance for 2024

Written by Callum Conway

17/02/2025

Skandia, the Swedish insurance company, has reported a "stable" 2024 performance, which it said has continued to "satisfy" customers.

Over the year, the group's premiums amounted to SEK 46.4bn, with assets under management amounting to SEK 863bn.

The total capital managed by the life insurance company reached SEK 617bn, and its solvency ratio was 205%.

Skandia CEO, Frans Lindelöw, credited the solid returns to a long-term investment strategy and good risk diversification, stating: "We have a life portfolio that is composed to stand firm in all weathers, where customers can feel secure with their pension savings."

The total return for Skandia Liv, its traditional management fund, was 6.8%.

In 2024, it distributed SEK 27bn in bonuses to savers in this portfolio, corresponding to a bonus rate of 5.4%.

Of the assets in the life portfolio, unlisted shares (private equity) were the asset class that, with 15.9%, had the best return during the year.

Skandia's strategic business assets, which include its insurance operations and Skandiabanken, also developed well, with a return of 9.4%.

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