The company, which is part of the Old Mutual Group, said the rise was down to growth in funds under management, positive inflows and “tight cost controls”.
According to Skandia, its funds under management grew 14% to £16.8bn, a total which it said made it “one of the world’s largest offshore providers.”
Asian and European markets were responsible for gross sales growing 13% to £2.9 billion, said Skandia, which also cited “product innovation” as boosting revenues.
No mention was made of the contribution to profits of Middle Eastern markets.
The company said Old Mutual Wealth Management’s cost reduction programme had delivered £35m of savings and this contributed to the improved profitability for Skandia International.
Michelle Andrews, commercial director at Skandia International, said: “Operating in so many markets globally presents us with significant diversity and business opportunities. These, coupled with a continued focus on quality business, have enabled us to deliver record profit levels.
“Last year Skandia International worked increasingly closely with other Group companies from within the Skandia and Old Mutual businesses especially in the UK, South Africa and Sweden.
“Through client-centric solutions, our focus for 2011 is to continue developing the footprint we have in countries across South Africa, Europe, Asia and Latin America, leveraging within the group where we can.”
