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Skandia AB, one of Europe's oldest financial services companies, will expand into Hungary through its German subsidiary, Magyar Hírlap reported.
The Swedish company will offer services to Hungarian customers through Skandia Lebensversicherung, its German unit based in Berlin, the paper said, citing no one. Skandia expects to become one of the five largest companies offering insurance and investment services in Hungary in the next three years, Magyar Hírlap said.