SWEDEN- Swedish insurer Skandia Liv has hired Bo Ekloef from insurer SPP, part of Svenka Handesbanken, to succeed its chairman of the board, Lars Eric Ericsson, following a turbulent time for the company.

Bernt Magnusson, chairman of the board at Skandia, said: “Lars Ericsson, has made a significant contributionto Skandia Liv during a turbulent and demanding period.”

In March 2003 the board of directors of Skandia Liv commissioned an independent investigative panel to examine “certain business events and relations” with its parent company, Skandia Insurance Company Ltd.

Six months later, the investigative panel said it had not found “any evidence that the parent company improperly profited at the expense of Skandia Liv”.

The panel however said the insurance branch had “clearly” lacked in independence “up until the 2002 general annual meeting”.

Magnusson said that, “now, Bo Elkof will be taking over the responsibility of working further with the board to develop Skandia Liv’s business. With his business acumen and depth of knowledge within the industry, Ekloef brings important competence to Skandia Liv’s board.”

Skandia Liv, has also appointed Gert Engman as head of Skandia’s Swedish operations and made him director of the board, which has lost three members: Lars Eric Ericsson, Cecilia Daun Wennborg and Jan-Mikael Bexhed.

Gunilla Svensson, press manager at Skandia Liv, was not available for comment.