Daily Insurance Industry News
 
 
Daily Insurance Industry News
Tuesday 14th of August 2018
March 13, 2012

Standard Life reports 2011 results

by Richard Kilner

Story link: Standard Life reports 2011 results

Standard Life reports 2011 results

Standard Life has reported its preliminary results for 2011, including a pre-tax operating profit of £544m, a 28% rise from the £425m the firm made in 2010.

However, profit after tax declined from £432m to £298m, a fall that has been largely attributed to the financial market level at the end of the year.

Group assets under administration rose from £192.9bn to £198.4bn and EEV operating capital and cash generation rose by 53% to £438m.

Chief Executive David Nish said that the results indicated the firm was on track to transform its operational and financial performance, adding that Standard Life was well-positioned to benefit from market changes and new regulations.

Nish said that whilst the economic backdrop remains uncertain the firm was confident in its strong capital position and the prospect of improving still further its financial performance.

 

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