American Skandia Could Be A Good Buy: Analyst
American Skandia could be a good buy for the right financial-services company, according to Andrew Kligerman, an analyst at Bear Stearns & Company, New York.
American Skandia, a Shelton, Conn.-based unit of Skandia Insurance Company Ltd., Stockholm, has been a major player in the U.S. variable-annuity market for years.
American Skandia prospered in the mid-1990s, but the recent stock-market slump has hit its variable-annuity operations hard. There have been published reports that Skandia Insurance wants out. (See NU, Sept. 16.)
An American Skandia spokesperson declined to comment on the reports.