Skandia exits Polish capital market

Insurer Skandia Życie TU has decided to withdraw from the Polish capital market, Puls Biznesu daily reported. Skandia made the decision due to concerns about increases in budget expenses. "The new government may decide to dissasemble the private pension funds (OFE) system," Michał Janik, an investment advisor at Skandia said, adding that the WSE is suffering from a disease called "election promises", which is harmful for all the listed firms. That is why, Skandia is exiting the Polish capital market, he pointed out.