Standard Life long-term savings sales up 25%
Standard Life has reported substantial growth in its long-term savings business, with new business sales up 25% (to £5.8 billion) in the first quarter of 2011, compared with a year earlier.
Furthermore, UK corporate pension net inflows rose 85% during the period, to £559 million, and UK Individual SIPP net inflows were maintained at £553 million, with customer numbers up 6%.
The group also saw international wholly-owned net flows rise 60%, to £449 million.
Commenting on the year so far, chief executive, David Nish, says: “Strong sales across our long-term savings business are evidence that our market-leading products and platforms are performing well.”
He adds: “Our programme of transformation and investment is on track, building our market-leading investment propositions by deploying best-in-class technology, and preparing our business to take full advantage of the fundamental regulatory changes that will take place next year.”
Category: Financials, Insurance News, Standard Life News
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