| The letter reproduced below was
sent to Skandia in mid-April 1997. After a whole year and several reminders, Skandia has
finally replied. They find no error in my calculations. However, they are not intending to grant me any redress in the matter. This is because they find it entirely in order that Skandia is paid - handsomely - for borrowing its policyholders´money for the rest of their lives, investing it and appropriating 100 % of the real return All attempts (41) to obtain redress in this matter have failed So - an emphatic warning against
Skandia´s products and business methods. |
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| ------------ | Skandia customer ombudsman Since Skandia have known for a long time about my case I shall be brief. I bought my life annuity with Skandia in March 1974. At the rate of payment which Skandia have maintained to date, I will get back the real value of my single premium in year 2012. By that time Skandia will have had my money at their disposal for 38 years (and certainly made good profits on it) without giving me back a single krona (in real terms). Statistically, I will have been dead for eight years by that date. In Expressen on 18.2.97 it was described how Skandia cheats its clients of large sums through sharp practice. Could this be the explanation for the magnificent returns on my life annuity? I now want negotiations with Skandia on an honourable conclusion to this matter. I stress the word negotiations. Not Skandia´s one-sided terms. Question: Can Skandia find any error in my mathematics in this matter? Note! It is vital that Skandia answers the above question. Ulf Svensén |
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