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Skandia Posts 30 Percent Leap

Published måndag 31 oktober 2005 kl 11.23
Skandia's management board thinks the company is better off without Old Mutual

Swedish insurer Skandia reported a more than 30 percent third-quarter rise in premiums and deposits Monday.

The group says the results show it can prosper without being bought by South Africa’s Old Mutual. Total premiums and deposits in the quarter were more than 4 billion dollars, a rise of 34 percent year-on-year.

The Skandia board has rejected Old Mutual’s nearly 6 billion dollar cash-and stock offer.

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