×
Home Companies Industry Politics Money Opinion LoungeMultimedia Science Education Sports TechnologyConsumerSpecialsMint on Sunday
×

Standard Life eyes more profit growth, assets rise

Standard Life eyes more profit growth, assets rise
Comment E-mail Print Share
First Published: Wed, Nov 03 2010. 01 06 PM IST
Updated: Wed, Nov 03 2010. 01 06 PM IST
London: British insurer Standard Life said it expected more profit growth despite tough economic conditions and posted a rise in assets under administration for the first nine months of the year.
Britain’s fourth-biggest insurer by market capitalisation said assets under administration for the nine months to end-September rose 13% from last year to £192.4 billion ($309.1 billion).
The company said it had enjoyed higher sales of fixed-interest savings products and more business from institutional clients.
In August, Standard Life reported a 10% rise in its first-half operating profits, helped by growth at its overseas divisions.
“The momentum we have built through the year positions us well to increase future cash flows and profit generation,” Chief Executive David Nish said in a statement, adding that the company was well placed to back its progressive dividend policy.
Standard Life shares closed at 229 pence on Tuesday.
Comment E-mail Print Share
First Published: Wed, Nov 03 2010. 01 06 PM IST