Summary
STANDARD Life's policyholders, who just three years ago supported the company in its fight to remain mutual, could be forgiven for feeling a little let down. Betrayed, even, by the company's announcement that it intends to seek a listing on the UK Stock Exchange.
They could even be feeling shortchanged. While the assurer never agreed the GBP 7,000 figure that was bandied around at the time Fred Woollard, tried to demutualise the company, the GBP 1,750 estimated windfall figure which emerged this week is considerably smaller and all the harder to swallow as the interim years have seen bonus cuts and double-digit plunges in the performance of some Standard Life funds.See the full content of this document
Extract
Standard Lack of Mutual Understanding
Woollard said: "Policyholders would have been better off if this had happened four years ago.
Announcing the about face, group chief executive Sandy Crombie said: "While being a...See the full content of this document
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