Skandia Ranked Number One in the U.S.


SWEDEN, March 9, 2001 (PRIMEZONE) -- According to estimated data prepared by Info-One's Variable Annuity Research and Data Service (VARDS), the widely-followed industry reporting service, Skandia was the U.S. market leader in terms of net flows in variable annuities in 2000. Skandia's market share exceeded 10 percent. Net flows -- sales less withdrawals -- show the company's ability to increase assets under management.

Skandia's market share for gross sales increased to 6.0 percent (5.5). Gross sales include internal sales within a company from an existing product to another product. Skandia has a low percentage of internal sales compared with its competitors. Skandia's internal sales account for less than 2 percent to total and were thus among the lowest of the major companies working in the market.

With respect to new sales, excluding internal sales, Skandia is No. 3 in the market with a share of 6.3 percent. Comparison figures for 1999 are not available.

Comments from Lars-Eric Petersson, President and CEO of Skandia:

"We feel that measuring net flows and not only gross sales presents a better picture of the quality of business. It is therefore gratifying to say that we improved our market position in 2000 despite the turbulent stock market."


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