STOCKHOLM, Sweden, Nov. 14, 2003 (PRIMEZONE) -- Hans-Erik Andersson has been named President and CEO of Skandia. Hans- Erik Andersson, 53, is currently Nordic Region Chairman for Marsh & McLennan Companies, a global leader in risk- and insurance advisory services and asset management, in both the life and property & casualty segments.
Hans-Erik Andersson worked for Skandia International from 1987-1992. From 1997-1999 he was Executive vice president at Skandia in charge of the property & casualty insurance operations. From 1992-1997 he was active in the UK as Executive Director of Mercantile & General Reinsurance in charge of the European life and property & casualty insurance operations.
Skandia's chairman, Bengt Braun, comments:
"Hans-Erik Andersson knows the industry and is well versed in the markets and conditions in the Nordic region, the UK and Continental Europe. He is an internationally tested and respected company leader. His list of merits and personal qualities meet the requirement profile for this job extremely well, and the Board is very happy to have him on board at Skandia."
Hans-Erik Andersson comments:
"Like many other life and unit linked assurance companies, Skandia has gone through a difficult period in which the market situation has forced it to implement short-term adaptations as well as long-term changes in its product structure and business strategies. Today Skandia is in an interesting and exciting position that offers major development opportunities.
"Skandia works in a market with underlying growth and has both the expertise and the products needed for success. I have no doubts that we can offer our customers the best solutions and build a profitable operation for Skandia's shareholders.
"I have recently had the opportunity to meet with Skandia's board, management and employee representatives. I have also been able to observe the work that has been laid down in reviewing products, markets and strategies. All this has strengthened my conviction that there is a strong, sound core, an optimistic view of the future, and an inherent development power at Skandia. As CEO my job will be to rally our strengths around Skandia's mission. This has been the basis of my interest. I have been reassured that this is also the Board's and employees' ambition. There is thus support and the conditions needed for this job, and I am anxious to get started."
Hans-Erik Andersson will take office as CEO of Skandia on 1 January 2004.
Skandia's chairman, Bengt Braun, extends an invitation to an information meeting today, 14 November 2003, at 10 a.m. Location: Skandia, Sveavagen 44, Stockholm.
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