Lars-Eric Petersson, former chief executive of insurer Skandia, is facing charges brought by Swedish state prosecutor Christer van der Kwast for two cases of "severe" breach of trust involving bonus payments at the firm.

Dow Jones Newswires reports that one charge relates to an alleged abuse of trust by Petersson when, in his role as chief executive of Skandia, he lifted a cap on an executive bonus programme without the necessary board approval.