The CEO of American Skandia, Wade Dokken partnered with Goldman Sachs and sold the division to Prudential Financial for $1.2 billion.

On 3 February 2006 Old Mutual completed its acquisition of Skandia, which was subsequently delisted from the Stockholm and London stock exchanges.

[3] As of 2013[update], Skandia's largest operation, in terms of new business and profit, was the United Kingdom which was launched back in 1979.

As well as in the UK, Old Mutual Wealth had operations in Europe and various international markets, overseeing £78.5 billion in customer investments.

[8] Skandia International, which specialises in offshore investment, sponsors the Royal Hong Kong Yacht Club and partners the United Arab Emirates Professional Golf Association in Singapore.

The charges by the prosecutor proceeded from the prerequisite that the payments from Skandia’s bonus program, called Wealthbuilder, to the beneficiaries were limited to an amount of SEK 300 million during the time period 1 January 1998 – 31 December 1999.

According to the prosecutor, Lars-Eric Petersson had, without the consent of the Board, removed the cap on the bonus programme by signing a document named Appendix 3, and thus causing payments of additionally approx.

According to the Court of Appeal, the prosecutor was not able to prove that the limitation for Wealthbuilder was still in force when Lars-Eric Petersson signed Appendix 3 in December 2000.

(Translation of the press release from the Svea Court of Appeal) On 26 March 2010, the former legal head of Skandia Germany, Michael Wolski, was prosecuted for tax fraud of the Cezanowski family (about EUR 50 million which Michael Wolski cashed in) for 2 years and 6 months jail in Darmstadt, Germany.