Skandia Insurance Co this morning said chief executive officer Mr Lars-Eric Petersson is to leave the company immediately.
Skandia has announced a strategic review and a investigation into transactions between the parent company and Skandia Liv
The announcement of Mr Petersson's departure was unexpected, but it follows a long period of market disenchantment with his leadership.
The company said it will embark on an immediate search for a permanent replacement for Mr Petersson, who will be replaced on an interim basis by former Skandia Liv CEO Mr Leif Victorin.
The company said it has also set up project teams to examine strategic alternatives for the company, as well as its reporting methods, communication and information, compensation, and ethics.
The company said it has also appointed an attorney to work in cooperation with the authorised public accountant to examine transactions between Skandia and Skandia Liv.
In addition, their investigation will include an examination of the principles of embedded value and decision-making processes in regard to compensation of company executives and board members, the company said.