Two former executives of Skandia, the troubled Swedish financial services company, are being sued by their former employer for up to Skr300m (€33.1m), according to unconfirmed reports.

Skandia, in a statement made earlier this month, said that it proposed to direct claims for damages against Lars-Eric Petersson, the firm's former chief executive who was dismissed earlier this year, and Ulf Spang, the former finance director.