Strong pensions performance for Standard Life

Wed, 03 Feb 2010

Scottish life insurance turned financial services group Standard Life has revealed that despite falling life and pensions sales, self-invested personal pensions and wrap businesses meant a healthy last quarter of 2009.

The fall in life and pensions could be down to the state of the economy and a poor market in the UK. Self-invested personal pension scheme customers continued to grow, however, up some 27 per cent.

The chief executive of Standard Life, David Nash, reportedly commented: "Third party assets under management in our investments business have reached record levels and we have seen increased net flows across our life and pensions operations, particularly in the fourth quarter. This momentum, coupled with the recent recovery in market levels, will benefit the group's future profits and cash flow."
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