Skandia Posts Strong Sales Gains

Sweden’s Skandia Insurance reported record sales for the year 2000 of SKr 197.7 billion ($20.9 billion) from growth in all sectors and all geographical areas.

U.S. sales of market leader Skandia’s variable annuity products rose from $6.9 billion to $8.2 billion, and overall U.S. sales registered a 17 percent increase.

Strong gains were also made in Europe and Japan. December was the only month in the year to show a decline, due to pressure on mutual fund sales.