Skandia Comes In from the Cold

The Swedish insurance giant's swift plunge into corporate scandal seems to be ending, thanks to some fast management moves

Just three years ago, Skandia was the toast of Sweden. The insurance giant was wildly profitable. It had made successful forays outside its home market. And in the U.S., its variable annuities were dominating the insurance scene. As a result, Skandia's shares soared, making it Sweden's No. 2 company.

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