Standard Life seeks claimants for shares and cash
Standard Life is in the process of tracking down 200,000 individuals who can lay claim to part the £184 million in shares and cash that has remained unclaimed since the life and pensions provider was demutualised.
Solicitors Georgeson has been appointed to help with the search and is raising interest by reporting that one person who was living in Derby when the company floated on the stock market in July 2006, is due almost £100,000.
However, the average level of entitlement stands at £863.
According to Standard Life’s assistant group company secretary, Paul McKenna, many of the people owed money do not realise that they are entitled to cash or shares from demutualisation.
Some may not have read correspondence that was sent out and others may be beneficiaries of the estate of a non-claimant.
Mr McKenna is urging Britons to remember the name “Georgeson” and not discard letters from the firm without opening the envelope.
Awards are worked out according to the size of customers’ with profits investments and the length of time their policies have been held.
Potential claimants do not lose their rights to the windfall until 10th July 2016.
Not all are in the UK, according to the insurer’s records, unclaimed assets could belong to people as far afield as Zambia, Tanzania, Iceland, the Bahamas and Israel.
Category: Insurance News, Standard Life News
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