Skandia’s AuM rise by SEK 56bn up to end of Q3

Written by Natalie Tuck

23/10/2024

Asset under management (AuM) at Skandia increased by SEK 56bn from the start of the year up to the end of the third quarter (Q3).

Publishing its interim results, Skandia revealed that at the end of September 2024, AuM totalled SEK 860bn, compared to SEK 804bn at the start of the year. Premiums in the group amounted to SEK 33.9bn, up from SEK 30.6bn at the beginning of 2024.

Regarding the life company, Skandia Liv, AuM amounted to SEK 621bn, compared with SEK 592bn at year-end. The total return amounted to 6.8% during the first three quarters of the year. The five-year average was 5.9%.

The collective funding ratio was 108%, compared with 104% at the start of the year. The solvency ratio in the life company amounted to 205%, compared with 201% at year-end.

In addition, AuM in unit-linked and custodial insurance totalled SEK 202bn, compared with SEK 179bn at year-end.

Skandia CEO and president, Frans Lindelöw, said the first nine months have been “stable” for Skandia due to its “long-term investment strategy and good risk diversification”

“During Q3 we further increased our sustainable investments and invested more than SEK 1.5bn in green bonds. Among other things, we have participated in financing programmes for Östersund and Vellinge municipalities. In addition, together with one of our selected infrastructure managers, we have invested in a leading property energy efficiency company in Germany,” he said.

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