Sales increase for Standard Life
by Kay Murchie
Life assurance firm, Standard Life, have announced that their sales figures are showing a considerable gain over the first half of 2007. The figures show a 31% increase in overall sales, largely due to a 49% increase in pension sales.
In addition, the business has risen to £8.8 billion in 2007 against £6.24 billion in 2006 - this figure is above the £7.87 billion predicted by analysts.
A change in the product mix is thought to be responsible for the good performance, however, the company also suggested that it may be due to the 12% workforce cutback to be applied by 2009.
A spokesperson for the company commented that the group is pleased with its performance. The move to higher margin and higher value added savings products continues. The group is confident that they will secure the right mix of new business to deliver profitable growth for its shareholders.
Standard Life Investments also experienced a good first half as investment product inflows grew to £3.1 billion and third party funds under management rocketed by 12% to £31.5 billion.
Standard Life was set up in 1825 and its headquarters are located in Edinburgh, Scotland.
Discuss this in the Finance Markets forums
Story link: Sales increase for Standard Life
Add to Bookmarks:
Related financial stories to: Sales increase for Standard Life
- Standard Life announces increased payouts for policyholders
- Standard Life increases SVR
- 15,000 Standard Life customers at risk of fraud
- New mortgage deals from Standard Life and Britannia
- US sees unexpected increase in pending home sales
- Medical insurance sales increase following superbug outbreak
- Housebuilders’ woes increase as sales plummet
- Merger talks between Resolution Life & Friends Provident
- Life insurance is at its cheapest
- Standard Chartered profits boosted by overseas markets
Previous: « Pensioners burdened by mortgage debt
Next: Zurich planning sell-off »
Visited 600 times, 4 so far today