If Wade Dokken, CEO of American Skandia, is a betting man, he may be about to lose his shirt. In March of this year, when MFMN asked him about the likelihood of a sale of the company, he responded, "I'll take all those side bets."

Skandia Insurance Co. is poised to back out of the American market by selling American Skandia, its U.S. variable annuity and mutual fund arm. Jefferson Pilot Financial of Omaha, Neb., is said to be paying $600 million for the Shelton, Conn., insurance company, which, with $23.1 billion in assets, is the 10th largest annuity company in the U.S.

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