Skandia and its life insurance arm Skandia Liv have started talks to settle a dispute over the sale of Skandia Asset Management, which was bought by Den Norske Bank for SKR3.2bn (€350m) in 2002.

Skandia Liv claims it is due more money from the sale of the asset management arm, despite the deal being agreed by all three Skandia boards and sanctioned by the Finansinspektionen, the Financial Supervisory Authority in Sweden which reaffirmed its view last spring.