Danica reportedly plans to sell off Swedish unit

Danica has lost the battle in the Swedish pensions market and has now put its Swedish business unit on the market, according to Insidebusiness.

Photo: Danica

Danske Bank, owner of Danica, is mothballing its Swedish business unit and putting it on the market, according to Insidebusiness.

Danske Bank will not comment on the specific news article, but according Insidebusiness, sources claim that Swedish-based Danica never managed to achieved a market share high enough to compete with major players such as SEB and Skandia. Furthermore, several advisers confirm that Nordic asset managers in particular are considering buying the Swedish pension fund.

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