Skandia’s annual report has revealed that its total return for Skandia Liv, its traditional life insurance business, was 5.3% in 2025.
This represented a 1.5 percentage point fall from the previous year, and was slightly below its five-year average of 5.8%.
Listed equities produced the highest returns at 10.7% over the year, with European and Swedish shares performing the strongest.
Real estate and fixed income also produced positive returns, although unlisted equities returned negatively, primary driven by the Swedish krona’s strengthening against the US dollar.
Total managed capital in Skandia Liv increased by SEK 12bn to SEK 618bn over the year.
Group assets under management increased by SEK 26bn to SEK 889bn in 2025, while its solvency ratio increased by 3 percentage points to 208%.
“Our life portfolio is composed to stand firm in all weathers, to give customers security in their pension savings,” said Skandia CEO and president, Frans Lindelöw.
“It also did so in 2025, a year characterised by trade conflicts, geopolitical tensions, inflation, weak growth and a stronger krona.
“Skandia actively seeks investments that strengthen our customers' pension capital with a focus on security and sustainable returns.
“During the year, we continued to invest in climate solutions in line with our climate roadmap, which was updated during the year, which extends to 2030.
“This was done primarily through green bonds, infrastructure and sustainable property management.
“We enter 2026 with a good financial position, a strong offering and a desire to continue developing our services.”
