Skandia awarded contract as principal supplier in Sweden's largest pension procurement deal

22 Febbraio 2005

Skandia has been named as principal supplier in a major procurement process carried out by the brokerage firm Max Matthiessen for occupational pension insurance for 27 large Swedish corporations. In connection with this, a new fee model that is unique in the industry has been introduced, entailing the elimination of up-front fees, which have been replaced with a recurrent portfolio management fee that is fixed over time.

Skandia will be providing both unit linked assurance and life assurance, and will also be the sole provider of sickness/disability insurance.

The procurement is worth annual premium volume of approximately SEK 1 billion. The contract has a four-year term and will take effect on 1 June 2005.

Commenting on the contract, Sven-Erik Milton, head of Market & Business Development for Skandia Sweden, says:
"We are very pleased with this deal, which confirms the position that Skandia has had and continues to hold in the Swedish insurance market."