Royal Skandia

Skandia International is made up of three companies: Royal Skandia, Skandia Ireland and Old Mutual International. Through these three companies, they provide investment solutions around the world for expatriate and local customers.

Royal Skandia is the Isle of Man based arm of Skandia International. It has operated from the Isle of Man since 1984 and became fully owned by Skandia in 1990. It now manages over 130,000 policies in tax-efficient investment and savings products.

It is one of the largest financial services employers in the Isle of Man and is a major force in the offshore marketplace. They operate in an environment where confidentiality of information is fundamental, subject to any obligations imposed by law or regulations.

Postal Address:

P.O.Box 159
Onchan
Isle of Man, IM99 1NU
Great Britain

If you would like more information about Royal Skandia or are interested in using their products and funds then please Contact Me. Feel free to download the Skandia International Corporate Brochure below.

Skandia International Credit Ratings

RS are pleased to announce that AKG have updated their ratings for Skandia International in their annual report, the results are as follow:

B+ for Royal Skandia
B for Skandia Life Ireland

Please find attached the final version of AKG’s 2011 report. This report may be used externally, in its entirety or by means of extracts if necessary. Contact Me for further information on Royal Skandia and any of their product range.

Royal Skandia Online Client Centre

The Royal Skandia Client Centre is a secure website which gives you online access to valuations for all your Royal Skandia policies.

As well as being able to have a valuation summary of your Royal Skandia policies, you will be able to see a breakdown of your assets. For your unit-linked policies, you can view the funds you are invested in and their current value. For your portfolio bonds, you can view and print an interim valuation as well as your last quarterly statement. You can even see the transactions that have occurred since your last quarterly statement.

Please note that this facility is not currently available to trustee or corporate policyholders. Access may also be restricted for policyholders whose assets are held with, and/or managed, by third party companies.

How to register

1. Have the policy numbers of the Royal Skandia policies you want to view on the Client Centre ready before you start the registration process. Policy numbers are normally found as references on correspondence sent to you by Royal Skandia.
2. Select this link.
3. The first registration page is an opportunity to read the online Terms and Conditions. You do not need to accept the Terms and Conditions until you log onto the Client Centre for the first time.
4. Complete the online registration form that follows. Note some fields are mandatory and some fields are optional. Completing the optional fields may speed up the registration process for you.
5. They confirm your access and send you an Access Code in the post. You need to use the Access Code the first time you log on. The Access Code appears as an additional field after you enter your username and password and log on for the first time. Thereafter you will just need your username and password.

For more information about registering for the Royal Skandia Client Centre please check the attached download or Contact Me.

Changes to Royal Skandia Trusts

It has come to our attention that Royal Skandia are interpreting Isle of Man trust legislation differently to other companies in the offshore investment industry.

If you have your plan in a trust then RS will only pay withdrawal or surrender requests into bank accounts in the name of the trust itself and not to an account of an individual trustee or even the donor. This has caused considerable problems at the worst times for clients wishing to take monies out of their savings.

There is only one solution that we recommend and we suggest that, if you still have your plan under trust, you sort this out now and not at the time you need the money. Some clients have already done this successfully so we have experience in getting the documentation done correctly. Be warned that this can take several weeks to go through.

It can be broken down as follows.

A) Dissolve the trust and reassign the plan back to the original owner.
B) The new (original) owner can then do a simple nomination of beneficiary to avoid probate in the Isle of Man.

As well as the forms for doing A) and B) we also need to go through the whole Anti-Money Laundering process which involves proof of identity and residence address for the original trustees along with proof of identity, residence address and income for the “new” owner as well.

Please Contact Me if you are interested to make the changes or if you have any further questions.

Kind regards

Tony