Carnegie acted as exclusive financial adviser to Skandia
Livförsäkringsbolaget Skandia divests all its Danish activities (‘Skandia’) to AP Pension.
Skandia is the 7th largest commercial life insurance company in Denmark with approx. DKK 32 billion in assets under management and 118,000 customers. Whereas AP Pension is the 4th largest commercial life insurance company in Denmark with approx. DKK 100 billion in assets under management and 317,000 customers.
The divestment is part of Skandia Liv’s strategy to focus on the Swedish market.
The transaction is subject to approval by authorities which is expected to be in place by the end of the year.