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Daily Insurance Industry News
Friday 25th of May 2018
March 10, 2011

Standard Life reports good 2010 results

by Richard Kilner

Story link: Standard Life reports good 2010 results

Standard Life reports good 2010 results

Standard Life has reported its preliminary results for 2010, including an IFRS operating pre-tax profit, from continuing operations, up 7% to £425m.

The firm also saw its net profits, attributable to equity holders, more than double to £432m.

Core EEV operating profit before tax from continuing operations rose by almost a quarter (24%) to £629m, with EEV per share up 12% to 322p.

At the end of the year group assets under administration were up 16% to £196.8bn.

Net inflows and asset growth helped boost fee-based revenues, which increased by 16% to £1.1bn.

Chief Executive David Nish described 2010 as a good year for Standard Life, and said that the firm had made significant progress in its efficiency drive.

Nish added that the UK saw particularly good development, supported by consumer trends and regulatory changes, increasing opportunities for the firm and leading to increased investment.

 

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